DAF - Discovery Africa - Aussie Stock Forums

Results 1 to 4 of 4
  1. #1

    Post DAF - Discovery Africa

    Baru Resources Limited (BAC) is an Australian public company focussed on the identification and development of export hard coking coal and export thermal coal projects.

    The Company's project area is described as The West Galilee Project in the Eromanga Basin within 200kms of Hughenden and within 375kms of Mount Isa in Queensland and intersecting the main railway line that runs to the port.


  2. #2
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: BAC - Baru Resources

    MC - $2m
    SP - 6.2c
    Shares - 36m (50m total)
    Options - 43m
    Cash - $2.7m

    Baru Resources total project area comprises 22 tenements (7 granted Coal Exploration Permits and 15 Coal Application Exploration Permits) covering a total of ~20,000km2 within the Eromanga and Galilee Basins.

    West Galilee Project
    The West Galilee Project is comprised of 7 contiguous, granted Exploration Coal Permits covering an area of 6,732.4km2. The project area is some 375km east of Mt Isa and 16km west of the town of Richmond, close to the northern margin of the Eromanga Basin, which overlies the Galilee Basin and the newly defined Millungera Basin.
    One tenement EPC2075 was granted on the 13th June for a period of 2 years.
    All three basins are prospective for coal and will be the subject of a targeted drilling program to define the more prospective areas.

    Galilee Project
    The Galilee Project consists of 11 EPCA’s, 10,381.7km2 in area. The project is situated on the margin of the Galilee basin in Central Queensland (refer to Figure 2).
    There has been limited exploration for coal within the project area to date. Previous exploration on the tenure focused on petroleum exploration which intersected coal in the Winton formation within the Eromanga Basin and the Aramac and Betts Creek Beds within the Galilee Basin. An initial exploration program is currently being developed and will use the extensive seismic data covering the area as well as the historical petroleum holes in the area to define drilling targets.

    Longreach Project
    The Longreach Project consists of four (4) EPCA’s totaling 3202.8km2. The Cretaceous age Winton Formation covers the entire project area as both outcropping and sub-cropping sedimentary units.
    The Winton formation has been the subject on a significant increase in exploration over the last 12 months and two large tonnage thermal coal deposits have already been identified including a 728Mt Resource by International Coal (ICX), 1.2Bt Resource by East Energy Resources (EER) and 1.3Bt Resource by Coal Bank Resources (CBQ). NSL Consolidated (NSL) also has a project targeting the thermal coal within the Winton Formation.
    Attached Images
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: BAC - Baru Resources

    "Our mission, to boldly go where no other mineral exploration company has gone before".

    I can imagine this would be very exciting for BAC, or a last resort, but considering the lack of mineral exploration that has happened in the country, the infrastructure required to explore, let alone produce, must be absolutely deplorable.

    Pro : they have direct access to the Chinese via common border. The Chinese seem sympathetic to the Burmese and might be inclined to throw money at projects on its own doorstep rather than half way around the globe.

    Con : Strength of the military to do virtually as it pleases in the country is a concern.

    From this quarterly.

    The following highlights occurred during the March 2013 quarter:
     Baru Resources acquired a 100% interest in Horizon Mines Limited which has 5 mineral exploration tenement applications in Myanmar. These primarily target porphyry copper/gold mineralisation as well as potential smaller, higher grade epithermal and sediment hosted gold deposits. Within the permit applications there are old mines noted.
     Myanmar is considered as a last frontier in the world and is very prospective for a wide range of metals. It has virtually been unexplored for 65 years despite very high prospectivity. The country has just been opened up for the grant of exploration tenements in 2013.
     No tenements within the Longreach Project were granted during the quarter. It is expected the remaining 5 tenements will be granted in the June Quarter. An independent review of the project produced an exploration target based on publicly available information for the Longreach Project produced an exploration target of 582 to 6,171 Mt1.
     Baru Resources currently has an exploration team in Myanmar assessing its applications and discussing future potential exploration permits in Myanmar with that Government’s officials. It is expected that further announcements will follow once the team concludes its assessment sometime in April.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  4. #4

    Default Re: DAF - Discovery Africa

    On December 2nd, 2013, Baru Resources Limited (BAC) changed its name and ASX code to Discovery Africa Limited (DAF).

Similar Threads

  1. DML - Discovery Metals
    By rafsanjani in forum Stocks 0-H
    Replies: 111
    Last Post: 27th-February-2015, 04:21 PM
  2. CZA - Coal of Africa
    By shares in forum Stocks 0-H
    Replies: 58
    Last Post: 9th-July-2011, 05:21 PM
  3. Coal in Africa.... How much?
    By JPC in forum Commodities
    Replies: 1
    Last Post: 12th-September-2010, 05:42 PM
  4. Nickel boom and new nickel discovery
    By petee in forum Commodities
    Replies: 0
    Last Post: 12th-July-2006, 01:00 PM
  5. South Africa you bloody beauty!!!
    By bvbfan in forum General Chat
    Replies: 4
    Last Post: 13th-March-2006, 04:16 PM

Tags for this Thread


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums