Third Annual Report GR366 Pedirka Basin Project for the Year 4 January 2015 to 3 January 2016

Abstract

Mineral Exploration Licences (EL) 29239 and 29237 were granted to Ebony Coal Ltd (Ebony) on January 4, 2013 for a term of 6 years. Ebony Coal Ltd changed name to Ebony Energy Limited (Ebony) on 11 December 2014. During the Y-3 reporting period the work programme was restricted to desktop studies. Following on from the success of DH-1R the plan for the Y-3 reporting period included further desktop studies, planning and execution of a Stage-2 drilling programme. However, Y-3 reporting period was very challenging with respect to raising new monies to fund exploration programmes. In order to preserve capital, Ebony restricted Y-3 work activities to desktop studies. The key activities for Y-3 of the license period were target generation, project modelling and work on a concept study that is nearing completion.