The way I understand this company at the moment they are in the business of
along with a Canning Basin W.A. coal exploration project with the 2010 programASF Energy is also seeking other supply sources of Australian east coast coal which could either be contracted for supply or acquired to assist ASF to expand its coal supply and export business.
on their side they have* Follow up of coal intersection from 2009 drilling to commence in April/May 2010.
* Two new tenements granted to south of current granted tenements with seismic
processed “depth to coal” completed: investigations to commence in April/May
* Two new tenement applications (Nipper Creek and Verity Bore) to the south east
of current granted tenements encompass 57 strike kilometres of the untested
Noonkanbah / Lightjack contact.
* Historical drilling within Verity Bore tenement indicates presence of coal
and at present they areThe Memorandum with Huaneng HK states that:
1. The parties will develop a long term co-operative relationship in Australia.
2. The companies will form a team to jointly investigate the coal tenements held by ASF Group in Western Australia and study the feasibility of joint development.
3. ASF Group will seek to provide other coal resources in Australia to assess in co-operation with Huaneng HK.
Also just had a release of 92 million escowed shares and have less than a million bucks in the pot.ASF COMMENCE COAL SALES TO CHINA Further to the Company’s announcement on 16 September 2009 concerning its strategic co-operation with Fujian Materials (Group) Co., Ltd (“FMGC”), a Fujian state-owned enterprise, the Company is pleased to announce that, through its wholly-owned subsidiary ASF Energy Pty Limited, it has entered into a Coal Sales Agreement with FMGC for the immediate sale and export of coal to China.
Information only and if pain persists see your doctor.