Former Riversdale Founding Team developing a former Riversdale Asset that got shelved by Rio during the Coal down turn. Riversdale was a 200 bagger from memory so this management are worth backing imo
The project is Anthracite which is a niche metallurgicalcoal
In the February presentation the company said "The worlds largest producer and trader of Ferrochrome has issued a Non Binding Letter of Intent to Acacia to buy all of the projects output and in 2017 discussions will progress on Binding Offtake agreements and funding options"
Today's update confirmed the project as being Premiuim Quality which due to limited long term supplies positionins the company as a Strategically important future source of Anthracite.
Slowly ticking off the boxes to build a quality company here and if they can replicate even a small fraction of the success they had with Riversdale shareholders should do very very well
