See why the Fortescue deal did not happen for OBL. BRU sucked them in.
Speaking at a breakfast organised by brokers Morgans in Perth yesterday, Buru executive chairman Eric Streitberg was tight-lipped about the company’s efforts to secure new sources of funding and/or partners in its permits.
But he did identify the state’s large iron ore miners such as Fortescue Metals as a potential market for gas from its acreage, which stretches throughout the Canning Basin in WA’s Kimberley Region.
Mr Streitberg said the big iron ore miners had huge energy needs and gas would suit them.
“FMG use the equivalent of 10,000 barrels of oil a day in their operations.
Will FMG become their cornerstone on todays trading halt for BRU.
OBL Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
