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Fox may divest coal assets

7th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed junior Fox Resources on Tuesday raised the possibility of selling its Bundaberg coking coal project, in Queensland, allowing the company to focus on its Western Australian nickel and base metals assets.

Fox has engaged PCF Capital to evaluate divestment alternatives for the Bundaberg project, which contains an inferred resource of some 101-million tonnes.

An independent valuation has provided a preferred value of A$17.9-million for the project, with a range of between A$15.5-million and A$21.5-million.

In the meantime, Fox would focus its efforts on exploring the Mt Oscar joint venture project, in Western Australia, to assist in targeting gold at the White Quartz Hill prospect, and to evaluate several high priority targets, which require follow-up ground evaluation.

Edited by Creamer Media Reporter

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