MLM and Metrocoal and Cape Alumina
by, 23rd-June-2008 at 09:06 AM (9445 Views)
I see the floating of Metrocoal (MLM 100%)(pending satisfactory drilling currently underway) and Cape Alumina (40% MLM) as a massive upside surprise to the market once the listings are approved and taken forward.
He's some detail on Metrocoal from their website:
Queensland Focussed - One of the Best Coal Regions in the World Metrocoal Ltd. is an Australian–based mineral exploration company focused on its coal projects in the Surat Coal Basin locations of South East Queensland
Currently privately owned subsidiary of ASX listed Metallica Minerals Limited.
The 100% owned project tenements cover a total of 4,000 km˛ in Queensland’s productive coal region and have extensive coal bearing strata 3 coal projects (Surat, Ipswich & Injune) with extensive coal bearing strata targeting depths 130m - 300m for Underground Coal Gasification (UCG) as well as open pit coal potential <100m
100% owned tenements.
Value Adding Strategy
Utilising "new" technologies (Underground Coal Gasification - UCG) Spinoff of divestment from successful ASX listed Nickel focused company (ASX – MLM)
Proven Brisbane based team.
Metrocoal has an Edge “Latest” technology enhances portfolio High hydrogen Surat Basin coal suits CTL and Coal Gasification.
Previous work on tenements provides confidence of there being extensive and exploitable coal deposits and data base for further work.
Exploration Target > 1Bt Coal
<300m depth + seam thickness 3m
Shallow, deep coal utilising UCG technologies
4,000km˛ coal tenements in currently under utilised but coal-rich Surat Basin.
Excellent locations for infrastructure.
Low sovereign risk.
Experienced team with successful ASX track record.
Clear strategy for diversified growth in Southeast Qld Coal and Energy.
An initial resource statement released in January 2007 of 54 million tonnes of indicated
and inferred in-situ bauxite. Further drilling aimed at defining 10-15 year mine life
based on 7mtpa of pisolitic bauxite production.
Export Export revenue of A$250m-$300m pa (subject to positive feasibility study). Export
Sales proposed to Xinfa, one of China’s largest bauxite importers and other Chinese alumina majors.
What's 40% of just that mean for MLM?
How they can be trading at this MC is a bit odd.
Looking forward to drill results and getting on board the IPOs!
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