Investment Highlights
- Testing completed on coal from Seam 1 and Seam 3 at the Raven Underground Coal Project indicates the coal is viable as a blending project to be utilized for the production of coke used in steel making.
- An updated NI 43-101 compliant resource estimate states measured and indicated resources of 72 million tonnes measured and indicated and 59 million tonnes inferred, versus the previous estimate of 39 million tonnes measured and indicated, and 59 million tonnes inferred.
- The company has received notification from the Canadian Environmental Assessment Agency that a Federal Environmental Review will be completed on the Raven Underground Project.
- Received a Section 11 order from the British Columbia Environmental Assessment Office (BCEAO), a standard procedure outlining scope and schedule of the Environmental Assessment Process.
- Jameson Resources Ltd., who holds an option to acquire Compliance’s interest in the Basin Coal Mine, has suspended further work on the recommissioning study.
- We have maintained our BUY rating and fair value estimate at $1.30 per share.
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