"• 10,000 metre drilling programme has commenced. Drilling...

"• 10,000 metre drilling programme has commenced. Drilling target is resource extensions and upgrades.
• Mining contractor appointed to mine 100,000 tonnes of coal from the adjoining mine area to Nuurstei on behalf of Aspire. This raw coal will be used to test Feasibility Study logistics and marketing assumptions.
• Weighbridge and other supporting equipment acquired.
• Market for hard coking coal continues to be strong with CFR China prices around US$200\t. Given this current market pricing and internal cost expectations healthy operational margins would be expected.
• Discussions with potential customers in Korea and China have progressed.....

....The Coking Coal Market has continued to hover around US$190 - 200\t CFR China for hard coking coal. The Nuurstei Project development is subject to the outcomes of the current infill drilling programme, feasibility study and wash plant funding. Nevertheless preliminary internal cost assessments which are the subject of confirmation in the feasibility study point to healthy margins at current pricing"