# CQC - Cuesta Coal



## System (17 March 2012)

Cuesta Coal's tenement portfolio covers over 11,000km² and is spread across the major coal basins in Queensland, including the Bowen, Surat and Galilee Basins. The Company's pipeline of projects range from advanced exploration requiring Resource definition drilling, to conceptual lateral opportunities requiring scout drilling. The projects are located in close proximity to current and future planned infrastructure.

http://www.cuestacoal.com.au


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## springhill (20 June 2012)

Cuesta announces today an 87% increase in Thorn Hill.
http://www.asx.com.au/asxpdf/20120620/pdf/426xyp3q698c37.pdf

 44.6 Mt of total coal resources identified in its 2012 drilling campaign
- 22.1 Mt in the Indicated Resource category, and
- 22.5 Mt in the Inferred Resource category
 Resource defined from near surface to a depth of 100m
 Further exploration planning underway

Amberley Drilling process also underway.
http://www.asx.com.au/asxpdf/20120606/pdf/426ph2h8j86t1j.pdf

● 14 open holes completed for 1643 metres of drilling during 2012 campaign
● 4 cored holes planned to be completed
● Drilling aimed at increasing current JORC inferred resource
Cuesta’s JORC Inferred Mineral Resource of 5.1 million tonnes is located within the north western
corner of EPC 2127. Since the announcement on the 15th of May a further 7 open holes have been
completed for 876.5 m of drilling totalling 14 open holes and 1643 m of drilling on the project area. Of
the 14 open holes drilled, 12 have been geophysically logged to date.

Investor Presentation here.
http://www.asx.com.au/asxpdf/20120517/pdf/426b08943h5szj.pdf

$20m market cap, with $20.9m on hand.


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## springhill (28 June 2012)

CQC exploration update.
http://www.asx.com.au/asxpdf/20120628/pdf/427301h5n00vjm.pdf

● Amberley drilling 90% completed
● Drilling to commence at Eastern Galilee and West Bowen Projects
● Evaluation of Gravity Surveys enhances potential to add to the coal resources at
Western Bowen Project
● Recent studies have high graded potential extensions to known regional
deposits previously poorly explored in the West Emerald Project


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## springhill (13 July 2012)

*Cuesta Coal Completes Exploration Drilling at Amberley*
● 2,040 metres of drilling completed - all holes geophysically logged
● Cored Samples collected and dispatched for analysis
● Updated resource modelling underway
● Drill rig now mobilising to EPC 1802 at Eastern Galilee Project

Highlights include:
● Cumulative coal thickness of 16.98m to a depth of 136.7m in cored hole AM016C
● Cumulative coal thickness of 8.0m to a depth of 57m in open hole AM007
● Cumulative coal thickness of 12.2m to a depth of 114.7m in open hole AM0014


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## springhill (17 July 2012)

*Beijing Guoli representative joins Cuesta Coal Board*

● Appointment or Mr. Zheng Huaixi as Non-Executive Director
● Responsible for running Beijing Guoli’s Australian Mining Investment division
● Brings a significant amount of technical and corporate experience to Cuesta’s Board
● Another step in strengthening Beijing Guoli’s relationship with Cuesta Coal

Cuesta announce that it has strengthened its Board of Directors with the appointment of a senior executive from Beijing Guoli group, Mr. Zheng Huaxi, as a Non‐Executive Director.

Mr. Zheng is a mining engineer with over 20 years experience within the coal industry. He has worked at China’s most authoritative coal planning and processing department and at senior management level within China’s largest coal mining companies. Since 2004, Mr. Zheng has been responsible for mergers and acquisitions, restructuring, management, exploration and operating coal projects at Beijing Guoli.

Mr. Zheng was the Managing Director of Chaohua Coal mining company, during which time he successfully merged 4 coal mining companies and developed a total coal reserve of 500 million tonnes.
He is currently responsible for Beijing Guoli’s investments in Australian coal projects. 

Cuesta Coal’s Chairman, Mr. Ian Richer commented: “We are delighted to have attracted one of Beijing Guoli’s senior mining representatives to Cuesta’s Board. This appointment highlights the strengthening partnership between Cuesta and Beijing Guoli.

“As a cornerstone investor and strategic partner, Beijing Guoli is fully committed to working closely with Cuesta to develop a world class coal mining company.

“Our relationship with Beijing Guoli provides us with a level of financial flexibility that puts us in a very
strong position as we move through an exciting stage in Cuesta’s development.”

Mr. Zheng commented: “Beijing Guoli is pleased with Cuesta’s operational and exploration progress
and remains very supportiveof the company’s development plans.”


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## barney (20 July 2012)

Just to re-cap what you have mentioned SH ...

Current market cap of around $20 million at an Sp of 10 cents

Current cash close to $20 million

Top 20 Shareholders own around 79%

About 192 million shares on issue


They plan to spend the $20 million raised in the IPO over the next 2 years and hope to prove up some substantial coal reserves.

I'd guess there will be a tipping point on this when the value of the proven deposits will hopefully outweigh the amount of cash they will burn to find those reserves.

If they find something substantial, you would expect it to be known long before the cash runs out, so for Spec players, its either try and get set well in advance, or try and catch the momentum as the tide changes.

79% held by the Top 20 is going to make it hard to get any stock at basement prices if and or when it runs.

I don't hold, but am watching with one finger on the trigger


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## springhill (23 July 2012)

I took a piece of CQC this morning, the cash : MC ratio made it irresistable plus with the top 20 holding 79% was the tipping factor. Not many available for trading


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## barney (23 July 2012)

springhill said:


> I took a piece of CQC this morning, the cash : MC ratio made it irresistable plus with the top 20 holding 79% was the tipping factor. Not many available for trading




Well done SH ... I've been throwing a couple of trawling buys in and out of the market depth just in case someone dumped a few, but missed out so far.

I think you will do well on this one .. good pickup


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## springhill (23 July 2012)

barney said:


> Well done SH ... I've been throwing a couple of trawling buys in and out of the market depth just in case someone dumped a few, but missed out so far.
> 
> I think you will do well on this one .. good pickup




Cheers barney, if they can't get some SP increase out of $20m spending on project works I will eat my hat.
Not my good hat, the one I hardly wear. And only if I can put salt on it first.

No sellers until 15c ATM, but that will change.

See you on the bid tomorrow?


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## barney (23 July 2012)

springhill said:


> Cheers barney, if they can't get some SP increase out of $20m spending on project works I will eat my hat.





Agree 100% ....... Although I will also decline to eat your hat


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## springhill (25 July 2012)

CQC has a desktop study out for West Emerald today, I dont have the link at the moment for it. Will post later if I can.Increased my holdings yesterday.


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## springhill (31 July 2012)

From CQC's quarterly, resources and upcoming exploration programs.

*West Bowen (Moorlands Deposit)*
27.3 Mt of Thermal Coal (Inferred Resource in accordance with JORC code (2004) guidelines)
20 open PCD holes and 6 cored holes scheduled for upcoming quarter
New geological model underway incorporating >30 historic holes
Targeting the interpreted thickest coal seams, lowest stripping ratio coal in the northern section of EPC 1738.
*
East Wandoan (Thorn Hill Deposit)*
44.6 Mt of Thermal Coal (22.5 Mt Inferred Resource and 22.1 Mt Indicated Resource in accordance with JORC code (2004) guidelines)
Open cut potential resource defined from near surface to a depth of 100m
Calculated stripping ratio of 8.2 : 1 for the entire deposit
Further exploration planning underway to expand resource and obtain washability data
*
Eastern Galilee* 
Prospective Large Scale Thermal Coal Opportunity
17 open and 4 - 6 cored holes planned for the Upcoming Quarter
Exploration activities designed to understand lateral extent and thicknesses of coal seams
*
West Emerald* 
Prospective Project for Thermal, PCI and Coking Coals
Desktop study progressing, results pending for upcoming quarter
Effort focusing on historic drilling data and geophysical analysis to priority target areas
*
Amberley
* 5.1 Mt of Thermal Coal Inferred Resource, in accordance with the JORC coder (2004) guidelines
Exploration Drilling of 14 open and 3 cored holes commenced
Prospective for Open Cut Walloon Coal Measures
EOI lodged through the Port of Brisbane
*
Montrose* 
Greenfield PCI and Coking Coal
Preliminary desktop studies commencing to identify areas of coking coal potential for scout drilling in 2013

*OTHER PROJECTS ACTIVITY REVIEW*
Initial desktop reviews were commenced on the other projects within the Cuesta Coal Portfolio of tenements and this will be an ongoing activity for the company over the coming 6 to 12 months.

*INFRASTRUCTURE*
During the quarter, Cuesta Coal lodged an expression of interest for a 0.8-1.2 Mt pa allocation for the Port of Brisbane for the future development of the Amberley project.
Cuesta Coal also engaged Balance Resources Pty Limited to complete a review of all of the Port and Rail options summarising the best options for the Priority Projects. This is anticipated to be completed in the coming weeks.


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## springhill (3 August 2012)

*Eromanga Project - EPC 2168 Granted

*
● EPC 2168 now granted
● Desktop Review to be conducted over upcoming 12 months
● Investigating as a priority the shallow Jurassic Birkhead Formation
● Investigate the depth, thickness and quality of Permian Betts Creek Beds

Cuesta Coal Limited the directors of Cuesta Coal are pleased to announce that EPC 2168 has been granted. Together with the adjoining EPC 2167 application to the south, they form Cuesta’s “Eromanga Project”. Over the coming 12 months Cuesta will conduct a desktop review of the geological potential of the project area specifically targeting the Jurassic aged Birkhead Formation.
Historic water bore data indicates the presence of coal within EPC 2168 less than 150m from surface. Collation of this data and reinterpretation of gravity and seismic data will assist determining priority scout drilling areas in the tenement.
Additionally, Cuesta will investigate the depth to seam thicknesses and quality of the Permian Betts Creek Beds (or equivalents) coal measures which Cuesta has interpreted as being present throughout the Eromanga Project. Of particular interest to Cuesta is ascertaining the regional structure including confirming the current interpretation of shallower Permian coal in the southern section of the project area.


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## springhill (8 August 2012)

Cuesta Coal Executes Farm In andJoint Venture Agreement withQCI (Galilee)


 ●  QCI right to earn up to 51% through $3 million expenditure
 ●  JV for EPCA 2079 & EPCA 2080, over 1,028 km² in the Eastern Galilee basin
 ●  QCI to manage and develop the tenements with a collaborative JV committee
 ●  Exploration targeting shallow economic deposits of thermal coal

Cuesta Coal announce its Joint Venture with QCI (Galilee) Pty Ltd (QCI), a wholly owned subsidiary of Hancock Prospecting Pty Limited(HPPL), over two coal tenement applications, EPCA 2079 & EPCA 2080, which are located in theEastern Galilee basin and cover 1,028 km².
 Exploration activity in the tenements will target Permian Thermal Coal of the Betts Creek Beds orequivalents. QCI has applications in the vicinity.

Under the terms of the agreement, QCI is able to earn up to a 51% interest in the two tenementsthrough $3 million of expenditure in two separate tranches. QCI can earn 25% interest through thestaged development and expenditure of $1.5 million and a further 26% through the expenditure of afurther $1.5 million.
The joint venture is conditional on Cuesta being granted the tenements which are currently underapplication and are expected to be approved in the upcoming months. A JV committee will beestablished with representation from both companies. Initially, desktop studies will be used toprioritise target areas in the lead up to seismic and drilling activities.
Cuesta retains a 100% interest in four EPC applications and a 90% interest in EPC 1957 in the EasternGalilee Basin.
Cuesta Coal’s Managing Director, Mr Matthew Crawford commented: “The Board is pleased to haveentered into this joint venture with such a well‐regarded partner who has established a track record ofsuccess in the Australian resources sector.
“The expertise, technical experience and resources of QCI provide Cuesta with a great deal ofconfidence in the JV and exploration activities going forward”.
“Through joint ventures and other agreements of this nature, Cuesta will fast track the developmentof its projects and increase its resource base on an ongoing basis.”


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## springhill (9 August 2012)

There was an article I read yesterday regarding Gina Rinehart and her previous holdings in coal. From memory she sold all her coal projects to an Indian mob at the very top of the coal price for $29B. Since then prices have reportedly come off 30%.
Interesting that they would dip their toe back in the water with a minnow like CQC. I am unsure if they have done this with other coal specs.
All conditional of course but with CQCs cash balance is it a good thing to get a big predator involved this early?
i will try to find link to article tonight


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## springhill (9 August 2012)

Sorry that $29B was a typo, it was meant to be $2B, but even that was wrong. Actual figure $1.26B.
The article involving coal sales here.
http://www.bloomberg.com/news/2012-08-05/iron-ore-heiress-cashes-in-on-coal-dodging-30-decline.html

Rinehart has other JVs with 2 other specs on almost exactly the same terms.
http://www.theaustralian.com.au/bus...s-back-into-coal/story-e6frg9df-1226446256153


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## springhill (20 August 2012)

Cuesta Coal announces 45% Resource Upgrade at West Bowen

● 39.5Mt JORC Inferred Resource at Moorlands Deposit (EPC 1738) – a 45% upgrade on existing 27.3Mt JORC Inferred resource
● Project located 14km west of the Blair Athol coal mine owned by Rio Tinto
● Resource defined primarily to a depth of 150m
● Multiple coal seams intersected in 2011 drilling
● Low stripping ratio potential in north of deposit
● 2012 drilling to commence in 4-6 weeks

20 August 2012: Cuesta Coal announce a resource upgrade at the Moorlands Deposit (EPC1738) located at the company’s 100% owned West Bowen Project in the Western Bowen Basin, Queensland.
Following a 19 open hole exploration program in September and October 2011 and subsequent data compilation, a new geological model has been developed resulting in an increase to its Moorlands Deposit by 45% to 39.5Mt of an Inferred Coal Resource in accordance with the JORC code (2004) guidelines. The resource calculation has been derived from six seams, B7, B8, B9, ME, K1, and K2.
Importantly B8 has been interpreted as being approximately 8m in thickness. Table 2 indicates the majority of the coal was intersected at a depth between 50m to 150m, with Figure 2 highlighting the long section of the coal seams in the north of the Moorlands Deposit and the upcoming drill hole locations for 2012.


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## Vader (20 August 2012)

springhill said:


> Cuesta Coal announces 45% Resource Upgrade at West Bowen
> 
> ● 39.5Mt JORC Inferred Resource at Moorlands Deposit (EPC 1738) – a 45% upgrade on existing 27.3Mt JORC Inferred resource




My biggest concern with CQC is that the resources they appear to have, in general, seem quite small... I wouldn't have thought 40mt would be viable for an operating mine, unless it was high quality anthracite (which this isn't)... that would just be too short a mine life to be economically viable IMO.

...so unless that figure starts to grow significantly - I would be surprised if that project ever sees the light of day, but I don't know how much of the land they have drilled. It is in a good area, so I would expect there to be more around, but overall depth and seam thickness are going to be a factor too (8m is great, but the main seam at Blair Athol - only 14km away - is 30m thick - which is quite unusual btw, but finding a continuance of that would be helpful).


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## springhill (20 August 2012)

Good comments Vader and well worth thinking over. From what you have said then Easten Galilee, Montrose (for its Coking/PCI) and Wandoan (for its relatively shallow depth) would be the only viable projects CQC has? West Bowen is nearly at its target resource.
Why, in your opinion, do coal specs spend capital on minor projects, instead of just focussing on their bigger projects?

Types of coal targeted at each project.
• Export Thermal – West Bowen, East Wandoan, Amberley, Eastern Galilee
• PCI and Semi Soft Coking Coal – West Emerald
• Hard Coking Coal – Montrose

Projects and target resources from CQC are;
*Eastern Galilee Project*
Target 200 – 3,000 Mt
Area 3,919 Km²
Coal Thermal
Depth < 250m
Target Maiden Resource 2012

*West Emerald Project*
Target 50 – 200 Mt
Area 614 km²
Coal Thermal / PCI
Depth 200-400m
Target Maiden Resource 2013

*East Wandoan Project*
Resource : 23.9 Mt JORC Inferred
Target 40 – 200 Mt
Area 1,753 km²
Coal Thermal
Depth < 100m
Target Resource upgrade 2012

*West Bowen Coal Project*
Resource 27.3 Mt JORC Inferred
Target 15 – 50 Mt
Area 1,000 km²
Coal Thermal
Depth 20-250m
Target Resource upgrade 2012

*Montrose Project*
Target 0 – 70 Mt
Area 947 km²
Coal Coking / PCI
Depth 50 - 400m
Target Maiden Resource 2014

*Amberley Project*
Resource 5.1 Mt JORC Inferred
Target 40 – 60 Mt
Area 36km²
Coal Thermal
Depth 40-120m
Target Resource upgrade 2012


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## springhill (27 August 2012)

*Drilling underway at Eastern Galilee Project*

● 4 holes completed and geophysically logged
● Coal intersections encountered in all holes, 3 holes averaging 8m cumulative thickness
● North south strike length of ~ 4.5 km ‐ remains open to the south
● 13 open holes and up to 4 cored holes remain in the program
● 6 – 10 km² exploration target to be tested during 2012 drilling

Cuesta Coal announce it has commenced exploration activities at the company’s 100% owned EPC 1802 at the Eastern Galilee Project, located in the Eastern Galilee Basin, Queensland.
Four open PCD holes have been drilled with all of the holes encountering coal intersections, all holes have been geophysically logged. Regional dips will be determined following further drilling and compilation of data into the geological model.
Coal has now been intersected over a north‐south strike length of ~4.5km and remains open to the south. Cuesta will complete a further 13 open holes with exploration activities focusing on identifying seam thicknesses, lateral extent in both a easterly and westerly direction, regional seam dips and in areas of maximum coal thicknesses, coring will be completed to attain coal quality information.
An upper seam occurs in all four holes at about 90m and is 3.10m in thickness in the north at HP 10 and thickens to 5.10m in hole HP014 to the south. A lower seam at about 120m occurs in HP011 and is 5.50m thick, becoming shallower to the south but thinning somewhat. Aggregate thickness amounts to approximately 8m of coal in each of holes HP011, HP013, and HP014 (HP012 abandoned due to drilling difficulties) becoming shallower to the south.
The Eastern Galilee Project covers a total area of approximately 4,000km² with 2 granted tenements, 4 tenement applications and a further 2 applications under a $3 million joint venture with QCI (Galilee) Pty Limited subject to successful granting of the tenements.


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## springhill (28 August 2012)

Matthew Crawford on BRR.
http://www.brrmedia.com/event/102346/mr-matthew-crawford-managing-director-and-ceo


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## springhill (6 September 2012)

Amberley Deposit Resource Upgrade

● 54.7Mt JORC Inferred Coal Resource - Increased from 5.1 Mt
● Resources defined to a depth of 150 m
● Current Total Coal Resources of Cuesta Coal projects stand at 138.5 Mt
o Amberley Deposit in Clarence Moreton Basin 54.7 Mt o Thorn Hill Deposit in Surat Basin 44.3 Mt
o Moorlands Deposit in Western Bowen Basin 39.5 Mt
● Drilling continuing at Yellow Jacket Project at EPC 1802 - Eastern Galilee Basin

6th September 2012: Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce a resource upgrade to 54.7 Mt of Inferred Coal Resource in accordance with the JORC code (2004) guidelines at its 100% owned Amberley Deposit (EPC 2127) in the Clarence Moreton Basin, Queensland.
During May and June, Cuesta completed a 14 open and 3 cored drilling campaign totalling 2,040m of drilling, which was combined with approximately 44 historic drill holes to produce the revised resource calculation of the deposit. All holes completed were geophysically logged.
Coal measures in this region are banded Walloon Coal measures. The Amberley Project deposit is situated along strike extensions of existing known coal deposits and is found in eight seam groups – UNA, UNB, A, B, C, D, E & F. Cuesta’s drilling intersected between 2 to 8 seams with individual seam plie thickness varying from 0.1m to 1.9m, sufficient confidence in seam correlation was achieved.[SUP][/SUP]


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## springhill (13 September 2012)

*Beijing Guoli strengthens commitment to Cuesta with new Board appointment*

● Appointment of Ruoshui Wang as Non‐Executive Director of Cuesta
● Mr Wang responsible for running Beijing Guoli’s overseas investments
● Brings significant corporate and M&A experience to Cuesta
● Ongoing support from Beijing Guoli provides foundation to fast‐track growth

Cuesta Coal announce that it has strengthened its Board of Directors with the appointment of Mr Ruoshui Wang as a Non‐Executive Director.
Mr. Wang is a senior executive with Beijing Guoli (“Guoli”) and he has over 15 years’ experience managing overseas investments in coal, real estate and agricultural projects.
Mr. Wang has been with Guoli for over 10 years and has held a number of roles including Director of the Beijing Guoli Energy Investment Co. Ltd, Assistant President of Sino‐Australian International Trust Co. Ltd, and more recently, as the Director and General Manager of a number of investment subsidiaries of Beijing Guoli.
Mr. Wang was instrumental in negotiating Guoli’s $20 million investment in Cuesta Coal and has been active in strengthening the relationship between the two Companies which will support Cuesta’s ongoing development.
Mr. Wang holds a Bachelor and Masters Degrees in Thermal Engineering from Tsinghua University and has also completed a Ph.D in Management from Tsinghua.
Cuesta Coal’s Chairman, Mr. Ian Richer commented: “We are delighted to have attracted such an experienced and talented executive to Cuesta’s Board. We have worked closely with Mr Wang and his team for some time and his commitment to Cuesta has been very valuable.
“Mr. Wang has a track record of success in the coal sector, he has an excellent understanding of the Australian coal industry, and he will be instrumental in supporting Cuesta’s organic growth and M&A initiatives.
“Guoli’s commitment to Cuesta is well reflected in Mr Wang’s appointment and this follows the appointment of Mr Huaixi Zheng in July.


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## springhill (2 October 2012)

*Update on Yellow Jacket Project Drilling Program - Eastern Galilee Basin*

● Coal has now been intersected over ~ 15km², east of the conventionally known crop line. The area and coal occurrence was recently named by the company as the “Yellow Jacket prospect”.
● Discovery of coal for the first time in this frontier region was initially announced by Cuesta Coal Limited (pre ASX listing) on the 5th Sept. 2011 via an Argonaut Resources NL (ARE) ASX release.
● Cuesta Coal in the current program has now completed 12 Open PCD open holes totalling 1,975m, all to target depth.
● Coal lies less than 130m from the surface, with two seams present across all the drilled area. The prospect remains open to the east and south east.
● EPC 1802 which includes the Yellow Jacket project has an Exploration Target of 200– 1,000Mt.
● Cored drilling to occur in coming weeks will obtain primarily coal quality data, but also indicative geotechnical information and other geological information.
● A closed spaced gravity survey was completed over Yellow Jacket and wider target area to test effectiveness to define coal and for its potential application across Cuesta Coals other extensive Eastern Galilee targets and tenure.


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## springhill (26 October 2012)

Interest is starting to renew in CQC lately. Buyers have been lining up, current SP back to the 10c level with the next buyer at 10.5c and the nearest seller at 15c.
No reason I can see at this point for this action.


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## springhill (30 October 2012)

*QUARTERLY ACTIVITIES REPORT*

CORPORATE
 Exploration activities under budget, on schedule and resource targets achieved.
 Cash on hand $18.266m
 Mr Ruoshui Wang (representative of Beijing Guoli) invited to join the Board of Cuesta Coal subject to shareholder approval at the AGM

PRIORITY PROJECTS
 West Bowen Project
• Moorlands Deposit - 45% Resource Upgrade from 27.3Mt to 39.5Mt JORC Inferred announced 20 August
• Resource definition drilling commenced early October with promising intersections validating prospective open cut target area
• Cuesta’s priority project, to transition to an advanced project
 Eastern Galilee Project
• Coal Intersected over 15 km², maiden resource targeted for February / March 2013
• Joint Venture and Farm-In Agreement with QCI (Galilee) Pty Ltd announced on 8 August for the Snake Creek Project in the Eastern Galilee Basin
 West Emerald Project
• Metallurgical Coal target identified

PROSPECTIVE PROJECTS
• Amberley Deposit - Resource Upgrade from 5.1Mt to 54.7Mt JORC Inferred announced 6th September


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## springhill (5 November 2012)

CQC seems to be hitting the radar of a few people lately.

Buyer interest has definitely increased with the share price moving from 10c to 13c, with the next buy sell split at 13.5/14.5c.

Market Cap and Cash position are still remarkably close. Cash position of $18m and MC of around the $26m mark. (This MC is Including vested 2 tranche of performance shares to be issued).

Cash burn for 2012 FY expected to be $5m.

A recent updated investor presentation on October 31st may have been the catalyst for recent interest.

CQC actively seeking for future JV partners for further derisking of projects after the QCI JV.


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## springhill (7 November 2012)

Positive day for CQC.

410,385 of the 428,718 shares traded were at the 15c mark. Sell side from today's action has dried up, of course this could change completely at the open of play tomorrow.

The last time CQC was at the 15c mark was way back on June 1st 2012.

As I say often, a MC with a cash position like this is one that warrants further research.


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## springhill (11 December 2012)

REQUEST FOR TRADING HALT
The Directors of Cuesta Coal Limited (ASX: CQC) request that a trading halt be granted by ASX immediately with respect to the following securities;
● CQC Fully Paid Ordinary Shares
For the purposes of Listing Rule 17.1, the Directors of CQC provides the following information:
(a) The trading halt is necessary pending release of information pertaining to the announcement of a significant acquisition, as otherwise trading in CQC shares may take place in an uninformed market;
(b) It is requested that the trading halt remain in place until 10am (Sydney Time) Wednesday 12 December 2012 unless before that time CQC makes an announcement;
(c) It is expected that the trading halt will end following the release of an announcement pertaining to the significant acquisition;
(d) The Directors of CQC are not aware of any reason why the trading halt should not be granted; and
(e) The Directors of CQC are not aware of any other information necessary to inform the market about the trading halt.


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## springhill (29 December 2012)

CQC has performed nicely for me lately, nothing outrageous in SP spike or volume traded, very much a slow burn, but still a high of a 65% increase since my initial purchase. I have taken some money off the table on this recently in the name of risk reduction, nothing to do with my belief in CQC being able to extend these gains.

Latest news since my last post have been;

http://www.asx.com.au/asxpdf/20121210/pdf/42btsmd2l30wjq.pdf
*35% increase in JORC Resource at Moorlands Deposit to 53.4Mt*
● Resource increases to 53.4 Mt at Moorlands Deposit (EPC 1738) – a 35% increase on previous resource of 39.5 Mt
● 14.6Mt Measured and 9.7Mt Indicated JORC Resource in open cut target
● 4:1 to 6:1 strip ratio defined in open cut target
● Raw Coal Analysis in line with expectations
● Mine scoping study to commence in Q1 2013
● Previously untested satellite gravity targets identified within close proximity to deposit
● Moorlands remains a priority target for the Company with plans to fast track the Deposit into production
● Deposit is located 14km west of the Blair Athol Coal Mine owned by Rio Tinto Coal

http://www.asx.com.au/asxpdf/20121212/pdf/42bwfkqp6fwwck.pdf
*Cuesta acquires Orion Coal Project to create largescale 136Mt+ West Bowen Coal Project*
● Company‐transforming acquisition which fast‐tracks Cuesta from explorer to developer
● Attractive acquisition price of $18.2 million
● EPCs adjacent to Cuesta’s West Bowen Project creating large open cut thermal coal project 14km northwest of the Blair Athol Mine
● The acquisition and recent resource upgrade at the Moorlands Deposit (EPC 1738) creates total JORC resources of 136.3Mt with additional 85 ‐ 150Mt exploration target 1
● Combined resources modelling and estimate underway to define a new project resource
● Cuesta in discussions with cornerstone investor Beijing Guoli regarding funding support

http://www.asx.com.au/asxpdf/20121212/pdf/42bwfmk79jp8ks.pdf
Investor Presentation


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## springhill (22 February 2013)

*Cuesta raises $12m at 18 cents to accelerate development at Moorlands*

● Placement made to Beijing Guoli at a premium to the current share price
● Funds used to redeem $5m of the $10m Convertible Note issued for the Orion acquisition
● Placement provides significant working capital to progress the Moorlands thermal coal
project
● Moorlands located 14km west of Blair Athol
● Beijing Guoli continues to support Cuesta’s growth strategy

22 February 2013: Cuesta Coal Limited (ASX:CQC) (“Cuesta”) is pleased to announce that it has successfully executed a Share Placement Agreement to raise $12 million by issuing 66,666,667 new ordinary shares at A$0.18 per share to the Company’s major shareholder, Longluck Investment (Australia) Pty Ltd, a wholly owned subsidiary of Beijing Guoli Energy Investment Co.
The funds will be used to reduce the Convertible Note liability and to fast‐track the Company’s priority development project at Moorlands, located 14km west of the Blair Athol Coal Mine in the Western Bowen Basin in Queensland.
Use of Funds
Cuesta will use $5 million to redeem 50% of the $10 million Convertible Notes that will be issued to the vendors upon settlement of the acquisition of the Orion Coal Project which was announced to the market on 12 December 2012. The remaining $7 million will be added to the existing cash reserves of $10.40m (at 31 December 2012) for Cuesta to accelerate development of Moorlands. Details of the 2013 development program will be released to the market in the near future.

Terms of the Share Placement Agreement
Under the terms of the agreement the following are key terms and conditions:
● $12 million raised at a share price $0.18 to issue 66,666,667 new ordinary shares.
● $5 million to redeem Convertible Notes.
● $7 million to be added to working capital.
● Completion date is on or before 31 July 2013.
● The placement is subject to Chinese Regulatory, FIRB and Shareholder approval.
● Cuesta Coal is required to obtain an Independent Expert’s Report
● Under the terms of the agreement Beijing Guoli will be entitled to nominate an additional Director to
the Cuesta Coal Board


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## springhill (9 April 2013)

*Geological Model and Resource Estimate Completed at Cuesta’s Priority Moorlands Project*

● 146.1Mt JORC Resource at the Moorlands Project with significant exploration upside identified
● Moorlands is an open cut thermal coal project containing;
o Primary coal seams consist of B4 averaging 6m, B8 averaging 10m, B9 averaging 3m
o Secondary coal seams consist of B5 and B7 both averaging 1.5 – 2m
o Several coal seams and individual coal plies won’t require washing, enhancing project economics
● Xenith Consulting have commenced the Mine Scoping Study, expected to be finalised in 3 – 4 weeks
o Mine Scoping Study is targeting areas with average stripping ratios of <5:1
● Moorlands remains Cuesta’s Priority Development Project with expectations of a robust thermal
coal project


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## springhill (16 April 2013)

*Beijing Guoli given FIRB approval for $12m share placement in Cuesta Coal at 18 cents per share*

Beijing Guoli to continue to support Cuesta’s Growth and Development
Cuesta Coal today announced that it has been notified by Beijing Guoli Energy Investment Co., Ltd (“Beijing Guoli”) that it has received Foreign Investment Review Board (FIRB) approval for its investment in Cuesta through its wholly owned subsidiary Longluck Investment (Australia) Pty Ltd (Longluck).
On 22 February Cuesta announced it had executed a Share Placement Agreement to raise a further $12 million by issuing 66,666,667 new ordinary shares at A$0.18 per share to Beijing Guoli. The funds will be used to fast‐track the development of Cuesta’s flagship Moorlands Project which now has a 146.1 Mt JORC resource, and significant exploration upside.
Once this $12 million placement is completed, this will take Beijing Guoli’s total investment in Cuesta to $32 million.
Cuesta’s Managing Director Matthew Crawford said: “FIRB approval marks an important milestone in completing this latest placement and we are pleased to confirm that Beijing Guoli is very committed to supporting Cuesta’s growth strategy.
“Cuesta and Beijing Guoli are working closely and cooperatively and we continue to strengthen our partnership. Our collective aim is to achieve production at Moorlands as soon as possible, and we are working hard to achieve tis.”


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## springhill (3 February 2014)

I thought this article may be of interest to those researching cashed up specs

http://www.resourcestocks.com.au/pr...Download.asp?File=Cuesta+Coal.pdf&Size=915757


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## springhill (3 April 2014)

*Latest Investor presentation from Cuesta Coal.*
http://www.asx.com.au/asxpdf/20140312/pdf/42nb3tnmfcrz8q.pdf

*Snake Creek Joint Venture Tenement Granted.*
http://www.asx.com.au/asxpdf/20140311/pdf/42n96cmnz1nycn.pdf
Under*the*terms*of*the*agreement,*QCI*is*able*to*earn*up*to*a*51%*interest*in*the*two*tenements.**QCI*can*earn*
25%*interest*through*the*staged*development*and*expenditure*of*$1.5*million*and*a*further*26%*through*the*
expenditure*of*an*additional*$1.5*million.*
QCI* and* Cuesta* will* shortly* commence* planning* of* the* 2014* exploration* and* look* forward* to* working*
collaboratively*on*the*Joint*Venture.**

*92% Resource Increase In CQC's Flagship Project.*
http://www.asx.com.au/asxpdf/20140304/pdf/42n4yvq0n9wg4r.pdf
Highlights
● Measured*JORC*Resource*of*118.9Mt*represents*an*increase*of*103.5Mt**
● Particularly*encouraging*is*consistent*coal*quality*throughout*the*Moorlands*deposit**
●Proposed*South*Pit*average*stripping*ratio*of*3.2:1*maintained*and*majority*of*resource*now*in*Measured*and*Indicated*Category*
● Additional*coal*resources*identified*in*Proposed*South*Pit*enhancing*mine*design*layout*
● Average*23m*cumulative*coal*thickness*of*primary*seams*throughout*the*deposit*
● Maiden*Reserve*assessment*underway,*geological*model*to*be*used*for*Definitive*Feasibility*Study

Reserve*Assessment,*Definitive*Feasibility*Study*and*Infrastructure*arrangement*
A*maiden*reserve*assessment*is*underway*by*Cuesta’s*consultants*Xenith*Consulting*and*it*is*anticipated*to*be*
completed*in*4*to*6*weeks.*
*The* geological*data* and*the*upcoming*reserve* calculation* are* key* components*to*the*Moorlands*Definitive*
Feasibility*Study*(DFS).**Activities*in*relation*to*the*DFS*have*focussed*on*detailing*the*scope,*key*deliverables*
and*critical*path*activities.*
*Concurrently*with*the*DFS,*Cuesta*is* continuing*to*make*progress*to*secure*secondary*market*port*and*rail*
capacity*for*the*Moorlands*Project.**Cuesta*has*been*negotiating*with*a*third*party*user*for*a*number*of*months*
now*and*is*targeting*to*finalise*these*negotiations*and*execute*port*and*rail*access*agreements*in*H1*2014.


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## springhill (4 April 2014)

A 58 page report, commissioned by Cuesta, and has been prepared by Andrew Pedler, the principal of Matau Advisory Pty Ltd and is now available for viewing via the CQC website and this link.
http://www.cuestacoal.com.au/wp-con...140321_CQC-Research-Report_Final_Released.pdf

Andrew Pedler, has a strong background in resources including 9 years as an exploration and mine geologist, and 25 years as a senior resources analyst.

Some out-takes from the report that may be of interest.

The 12 month target price is 16c vs current closing price of 9.5c.

The unrisked valuation, based on the diilution required to fund Moorlands, is 35c.

CQC is evaluating 2 other projects, West Emerald and Eastern Galilee.

There are another 6 projects within the very early stages of evaluation.

Beijing Gouli Energy Investments holds a 36.4% cornerstone stake in the company and according to the report is a potential offtake partner.

Demand growth for thermal coal is predicted at 4.6% p.a in the Asia-Pacific region to 2022. Japan and South Korea, for example, are planning the construction of coal-fired energy facilities within the next 5-10 years - which aligns with CQC's targets.

The thermal coal product from CQC’s Moorlands project is good quality low-sulphur thermal coal. The deposit has shallow, thick coal seams between 4m & 10m giving a target strip ratio of 3.2:1 for the South-Pit and about 5:1 for the North–Resource area.

The Moorlands project is near the closed Blair Athol thermal coal mine operated by RIO (Linc Energy Ltd recently announced a conditional agreement to acquire and recommence mining at Blair Athol). About 14 km of road haulage would be required to deliver into that load-out. However CQC has included costs for a stand-alone rail loop and load-out in its capital estimates. Power is anticipated to be brought in from Blair Athol. Port capacity allocation is anticipated to be available on secondary markets.


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## springhill (8 May 2014)

CQC announced a trading halt for a cap raising, to be followed by an announcement pertaining to the cap raise.
http://www.asx.com.au/asxpdf/20140508/pdf/42phw0cwj9fzlk.pdf

Cuesta has the Eastern Galilee Project which lies 30km West of Clermont.

Today an announcement was made by the Qld Govt pertaining to a $16B mine in the region, the Carmichael Coal Mine is quoted as North-West of Clermont.
http://www.abc.net.au/news/2014-05-...proves-16b-coal-mine-in-galilee-basin/5438704

CQC could benefit greatly from this, most notably the 189km railway line to extract resources.....

With massive investment in a region usually comes speculation as to the surrounding tenements/companies.


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## springhill (20 May 2014)

*Cuesta Significantly Strengthens Balance Sheet with Placement to Major Shareholder *

● Conditional Placement of $8.5 million to major shareholder Beijing Guoli
● Commitment from Beijing Guoli for an additional $6.5 million
● Issue price of 10.3 cents per share represents a premium to the last traded price
●Funds to be applied to advancing the Definitive Feasibility Study for the Moorlands Project and repayment of $5 million Convertible Note liability

Placement is subject to approvals.


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