Coal play Riversdale Mining (RIV) is one example that not only avoided the credit crunch, but at $8.40 on Friday was up a whopping 308% rate of return from $2.06 a year ago. Entirely Africa-focused, Riversdale has a 74% interest in the Zululand Anthracite Colliery, which was started in 1985 and has 40.7 million tonnes of coal in situ with a projected mine life of 16 more years. The South African-based colliery is certainly a valuable asset in a country where electricity demand is now exceeding supply, but Riversdale’s projects in Mozambique are the true stars of the show, company spokesman Bill Kemmery says. At its project in the Lower Zambezi Coal Basin, Riversdale has an inferred coal resource of 1.225 billion tonnes of which 720 million tonnes is considered to be extractable by open-cut methods. LRF biggest holding. RAB
LRF Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
