OEMS AND SUPPLIERS

Comdek snatches up coal projects

PERTH-based communications company Comdek has beefed up its resources portfolio for the second ti...

Rebecca Lawson

The increasingly resource-focused Comdek has signed an agreement to acquire 100% of South African company, Isicebi Carbon Mining, which has a the right to earn a 70% interest in three coal projects located in the Waterberg region of South Africa.

Black Economic Empowerment group, Lukale Mining, holds the remaining interest.

All three coal projects - Lisbon, Zoetfontein and Koert Louw Zyn Pan - were previously owned by BHP Billiton and BP Coal. The companies' surrendered the projects to Lukale following changes in ownership regulations.

The three projects have a combined initial inferred resource of 415 million tonnes of thermal and coking coal, however Comdek technical director, Ed Mead, told MiningNews.net that the resource will be upgraded soon, with the company currently acquiring more historical drill data from the South African Government.

Mead added that Comdek is currently conducting due diligence on the projects, and hopes to have that wrapped up by the end of the year prior to a drill campaign anticipated to start in February or March next year.

"We're trying to push [the projects] reasonably hard," Mead said.

The latest acquisition by Comdek follows its recent majority acquisition of Cameroon company Uranex SA, which holds three prospective uranium tenements in the country.

A radiometric survey is expected to be carried out over the tenements early next year.

Mead said Comdek will maintain its communications portfolio along with its suite of resources projects, and while the company was looking to add more coal and uranium tenements, nothing was on the table just yet.

"It is possible that Comdek will spin out a company to handle the resources portfolio or alternatively do a change of business for Comdek," Mead said.

"I suppose at some point down the track we will end up having to look at going to a shareholder meeting for a change of direction if these projects warrant us doing that."

Shares in Comdek were up 0.4c to 6.8c in early afternoon trade today.

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