Coal Of Africa (LON:CZA) - Soutpansberg resource upgrade
Jun 27th 2012 - Edison Investment Research today published a report on Coal of Africa (CZA.L, LSE:CZA, LON:CZA) entitled "Soutpansberg Resource Upgrade". In summary, the report says:
Coal of Africa released an updated compliant resource estimate for Greater Soutpansberg prepared upon the completion of the Chapudi acquisition. The area’s overall gross resource was upgraded by 429% to an impressive 8.0bn tonnes, while the more relevant mineable resource estimate grew 209% to 2.0bn tonnes. The released independent technical report has also provided selective saleable coal qualities for some of the project’s areas, underscoring its high coking coal potential. We have updated our valuation to incorporate the released resource estimate.
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