Comdek Announces Jericho Coal Acquisition
May 27, 2008 Filed Under: Coal Mining, Lead Mining
Comdek announced that it has signed an option to acquire 100% of the issued capital of Tiger Coal, a company that has applied for two coal projects, the Jericho East and Jericho West Coal Projects in Tasmania. Inferred historical tonnes of coal is 60 to 80Mt of black thermal coal. The company reproted that there is potential for further significant coal discoveries and has an initial exploration target of 240 to 300Mt of thermal coal. The company will commence exploration on the projects with a view to determining the extent of coal deposit and whether this may lead to a commercial coal mining operation. Initial phase exploration expenditure will focus on upgrading and extending the existing historical tonnes of coal and completing a scoping study into the potential for development of the coal deposit.
Original Announcement: Jericho Coal Acquisition
