Proactiveinvestors Australia

A JORC compliant resource upgrade to 294 million tonnes at the Ntendeka Colliery in South Africa will potentially add to Ikwezi Mining's value upside as it is on the threshold of becoming a coal producer in the September quarter of this year. 

The all-scrip takeover offer for Lemur Resources by AIM-listed Bushveld Minerals, at $0.099 values the company at around $19.10 million, and offers a considerable premium of 65.5%.

With a strong domestic coal market, Ikwezi is confident that it has its fundamental structures in place to bring the Ntendeka Colliery in South Africa into production in the September quarter of 2013. An offtake agreement is already in place with Vitol.

Unconventional gas group Leyshon Resources is sitting pretty, with more than enough money to fund its 2013 exploration programme. It is looking for other investment opportunities where it can bring its expertise to bear, but is also contemplating separating its gas and gold businesses.

With the signing of the joint venture to develop blocks in the Surat Basin, International Coal has gained entry into one of the most highly coal-rich region that is prospective for high quality, low ash thermal coal. Significantly, there is an Exploration Target of up to 435 million tonnes.