Reading today's AFR and noticed a snippet on page 20 stating that xstrata has agreed to buy the Sukunka coal deposit in British Columbia for $us500m in cash. Interesting to note it's in the Peace River Coalfields, and is located approx 100km south of Jameson's Carbon east, Dunlevy, Peace Reach, and Graham River tenements.
Appears to be the fourth project Xstrata has acquired in the past year or so. Doesn't hurt to have a major sniffing around near our projects!! Early days yet - Sukunko deposit has a 236 million tonne resource.
Looking forward to getting the approvals and start drilling!
Regards
Doyle
JAL Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
