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MetroCoal Limited Recommences Drilling Program On Bundi Project

Tuesday, 28 May 2013 08:01pm EDT 

MetroCoal Limited announced it has recommenced exploration and evaluation work on its 100% owned Bundi thermal coal project in the Surat Basin, Queensland. This exploration program and associated technical studies will provide the information and data necessary to complete the mine design and (EIS) and will form the basis for MTE’s MLA. Despite the challenging market conditions, MTE believes this focussed exploration program will add value to the Bundi Project and the program will be accommodated comfortably within MTE’s cash reserves, leaving a cash balance at year end in excess of $7 million. 

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0.0010 +2.63%
28 Jul 2014