News blog
Strategic Natural Resources
- BY: Andrew Hore |
- POSTED: 14/02/2008 |
Strategic Natural Resources has increased the extractable coal reserves from its Elitheni mine from 5.5m tonnes to 15.05m tonnes.
This means that the South African mine has sufficient reserves to enter into a supply agreement with Aim-quoted IPSA, which is building a coal-fired power plant. A 250MW plant requires 1m tonnes of coal a year. SNR can enter into a supply contract with IPSA now that it has enough extractable reserves. This contract is important because it will enable IPSA to get project financing for its plant.
On 7 February Peter Earl, a non-executive director of SNR and boss of IPSA, bought 100,000 SNR shares at 35p each. On 28 January he bought 200,000 shares at 31p each.
SNR shares rose 1p to 36.5p.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|