IKW - Ikwezi Mining

[System]

Ikwezi Mining Limited (IKW) is focused on advancing the development of three coal projects in the KwaZulu Natal and Limpopo regions of South Africa.

The Company holds Prospecting Rights and majority interests in these Projects, the most advanced of these being the 70% held Newcastle Project with a JORC compliant resource of 209 million tons of coal. Ikwezi Mining have applied for a mining right for this Project which is expected to be determined in October 2011. The Company hopes to commence development of this Project in the fourth quarter of 2011 subject to the granting of this right and associated authorisations including the finalisation of their geological studies, development and environmental management plans. The two other earlier stage exploration Projects are the 60% owned Newcastle Phase 2 and Acorn Projects.

http://www.ikwezimining.com

 

[springhill]

MC - $15m
SP - 8.9c
Shares - 168m quoted (338m total)
Options - NQ
Cash - $12m

Again, a strong MC:Cash ratio makes further investigation impossible to ignore.

IKW is assessing operations with coal prices coming of the boil recently. There is alot of information worth reading in the latest quarterly.
http://www.asx.com.au/asxpdf/20120731/pdf/427qwmfzvq46jq.pdf

 

[prawn_86]

Cheers SH.

I am also starting to look for co's with MC very close to cash backing and projects that will come on board soon, or have exploration results and/or possible asset sales coming up.

 

[System]

On December 30th, 2022, Ikwezi Mining Limited (IKW) was removed from the ASX's Official List in accordance with Listing Rule 17.11, after security holders resolved to remove IKW from the Official List.