I won't go into the specifics of what we discussed, but one thing that I didn't realise is that the acquisition is much bigger than the "Moke" deal that I thought I was waiting for. Maybe some others are in the same boat.
It was actually all spelt out in the last quarterly, I just failed to fully understand what was going on as far as the change in the scope of the acquisition.
"Moke Project Areas and Other New Ventures
The Moke acquisition has been a principal area of focus in the June quarter. Specifically Triple has been engaged with the Shaanxi Province State Owned Enterprise, Shaanmei Coal Mining Company (“Shaanmei”). Shaanmei has extensive coal mining licensed areas in the Hangcheng area. The current objective is to develop a long-term agreement to cover both the Moke coal seam gas project areas as well as other new projects in the Shaanmei licenses for future cooperation. Triple remains focussed on completing this long-term cooperation agreement in the near term."
I guess the bottom line is that the acquisition is now a whole lot bigger than just the "Moke" acreage alone.
TNP Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
