cr121711

On 17 May 2018 U&D Mining withdrew from its application to renew ATP1182 resulting in the dissolving of the tenement altogether. Funding delays encountered by our overseas parent entity caused “the company” to delay “on ground” works year on year throughout the 4-year term and without being able to commit to further spending the the short term, the decision was made to effectively terminate the Authority to Prospect. The planned exploration activities for the 4 -year term included targeted seismic surveys and drilling (coring) of the Biloela Formation, Rannes Beds and Back Creek Beds for coal analysis and gas pressure testing. These beds were identified as having gas potential when coal coring in the adjacent Stockyard Creek Coal Project area in 2011.