chip away, page-53

Driving the re-rating has been some high quality coal results out of Botswana, where the company has a thermal coal deposit of 6.9 billion tonnes in the south-western part of the country.
Infill drilling results within Takatokwane Target Mining Area confirm premium thermal coal within seams 2L, 3 and 4 with washed calorific value range greater than 6,000 Kcal/kg.
Highlighting the potential of the deposit - the coal quality within the Target Mining Area among the best in Botswana.
Another plus is that Seam 4 within the Western Target Area and Northern Target Area
matches export grade for South African Richards Bay specifications, providing a potential avenue to international markets and the monetisation of the deposit.
The results within the Target Mining Area at Takatokwane, located 195 kilometres north west of the capital, Gaborone, showed high energy, low ash and low sulphur making the product ideal for export to South Africa.
Another defining factor of the deposit is the close geographical proximity to South African domestic markets and associated transport infrastructure, putting Nimrodel in a strong position to develop a low cost, high value starter-mine to supply domestic and export markets.
Nimrodel is also working on several coal-to-market logistic options, as transport logistics required to create market access remain the single largest constraint upon the immediate commercial viability of Takatokwane’s coal.
At the end of September 2012, the company had around $3.6 million in cash.
I like the part about low-cost high value starter mine.
Good luck all