With the commencement of the 2012 drilling program just around...

With the commencement of the 2012 drilling program just around the corner things should start heating up from here. The Churchyard block is the first cab off the rank and has the potential to moved AQC significantly higher.Newland resources - now Acacia Coal announced back in March 2011 Siginificant coal Intersections at Commet Ridge ie 5-14m thick seams at depths of 15-120m with potential for coking coal product. This was enough to send the stock from 6 to 18c or a market cap of $180m ,
AQC announced recently that EPC 1996 has up to 30m of coal intersections at depths less than 100m with coking coal potential.The quarterly shows 3 existing drill holes in this block. Both Acacia and AQC are believed to have intersected the Fairhill Formation.
The only outstanding issue in my mind is the the funding they referred to in the quarterly. hopefully this will be put to bed shortly as it remains a lingering question mark ie will there be a cheap issue on its way.
Should the Churchyard drilling prove successful , it would no doubt justify a share price of multiples of the current level as we are only capitalised at a meagre $20m which for a coal player in the Bowen basin with 107mt Jorc resource, a JV with Rio Tinto , Dingo EPC next door to Bandanna which seems to be also heating up and just for a bit of a taliking opoint has Gina Rheinhart on the register.Hopefully AQC will get on a few more radars over the course of 2012 although a successful drilling program will do that for us. Fingers crossed!