Interesting little stockCurrently has a 1/3 interest in coal...

Interesting little stock

Currently has a 1/3 interest in coal tenements in the Maryborough Coal Basin not too far from Gladstone and Bundaberg with the opportunity under a farm-in arrangement to go to 80%. It does appear any viable coal reserves are uunder state forests so getting permission to mine might not be too easy if a decent resource is found.

Despite the down market the stock is up a steady 50% on its IPO price less than two weeks after listing (only partly due to director buying).

Extremely tightly held with top 4 on listing holding approximately 83% and only $10K investment needed to be on top 20 list. Since listing one of the directors has bought approximately 2% meaning 85% now in the hands of the top 5 (assuming none of the others have sold).