Accumulating ground can be good if it consolidates enough...

Accumulating ground can be good if it consolidates enough tonnage of quality sufficient to support an economic project. Otherwise it simply adds to holding costs and expenditure commitments for a company.
Hillalong East (EPC2141) was the base tenement RT held in the farm-in into AQC's adjoining tenure EPC1824 that BCB now hold. The drilling program of 5 holes was shown in AQC's press release of 30th October 2012. Confirmation of completion of 3 x 2D seismic lines and drilling intercepts of 2 chip holes (chips sent to lab for petrographics) were announced by AQC 17 October 2013. The depth of intercepts indicates the project as an underground mining prospect.
Nothing was ever released regarding the results / interpretation of the petrographics nor the seismic interpretation. Nothing further stated in Annual Report of 3rd November 2014. After the exploration, RT determined not to take up the equity and terminated the JV 23 August 2015.
Will be interesting to see how BCB view this project and its prospects vs Rio Tinto wrt appetite for underground mining, scale and economics. Other than RT's Hail Creek CHPP and rail loop, there is no other accessible infrastructure up in that part of the Bowen Basin and as such capex costs for development would be high and probably require significant scale / annual output target.