INTERNATIONAL COAL NEWS

Mozambi Coal forms alliance with Moultrie Group

MOZAMBI Coal's shares are predicted to trade firmer after it placed 10 million shares to Queensla...

Sadie Davidson

This article is 10 years old. Images might not display.

The placement is subject to shareholder approval and on the same terms as the recently arranged placement to sophisticated investors at 1c.

Moultrie will oversee the primary seven-hole drilling program at the Bowen Basin project, acquired by Rio Tinto.

This raises an additional $100,000, and Moultrie Group will also receive 5 million free-attaching 2c options expiring December 31, 2017.

Funds raised from the placement will be used for further coal exploration activities in the Bowen Basin.

Mozambi is targeting three deposits - from 20-50 million tonnes of coal - that are shallow enough to open cut in multiple benches.

Based on the coal exploration target and drilling catalysts ahead Proactive Investors Australia predicts value accretion to $0.021-$0.028 for Mozambi within 6-9 months.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

Mining Magazine Intelligence: Future Fleets Report 2025

MMI Future Fleets Report 2025 looks at how companies are using alternative energy sources to cut greenhouse gas emmissions

editions

Mining Magazine Intelligence: Automation and Digitalisation Report 2024

Exclusive research for Mining Magazine Intelligence Automation and Digitalisation Report 2024 shows mining companies are embracing cutting-edge tech

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.