To take our options further, Banpu took over Hunnu Coal 12 months ago, with the $477million purchase.
To-date, no further mining has commenced at either of the two targets, although $200million is budgeted for further exploration.
See this up-date:
http://www.banpu.com/module/download.php?C=BANPU Q2 2012 (14 AUG).pdf&F=/content/investor-relations/presentation-file/108-2.pdf
Page 31.
The Coking is some 93m/t jorc, with remaining jorc at the Middle Gobi in Thermal.
What's the thinking behind further exploration - not sure.
My take is they are prepared to spend a large amount to continue to explore, in addition to the outlay last year.
IMO - still bullish medium to long term for Mono Coal ...
Attendance at this year's AGM for Draig is on the cards, and not just for the coffee and bickies!
Cheers :)
To take our options further, Banpu took over Hunnu Coal 12...
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