Aussie junior upbeat about coal prospects as Trans-Kalahari rail deal is signed
PERTH (miningweekly.com) – The share price of coal junior Walkabout Resources spiked by 12.5% on Monday following the signing of the Trans-Kalahari railway line bilateral development agreement, between the governments of Botswana and Namibia.
Walkabout MD Allan Mulligan said the $10-billion project was likely to pass near the company’s planned Takatokwane mine site, in Botswana.
“The signing of this accord, which lays out the management and development process for the Trans-Kalahari rail line is extremely important to the emerging coal industry in Botswana and to Walkabout Resources in particular,” Mulligan said.
He noted that the timeline for the railway project’s development was aggressive, adding that the company was looking forward to synchronising the Takatokwane mine development to deliver the first shipment of coal onto the Trans-Kalahari line.
The rail project was set for development and construction between 2014 and 2019, and would include an extended commodity terminal at Walvis Bay port. The coal terminal would be configured to handle about 65-million tonnes of coal a year.
Walkabout’s Takatokwane project would consist of an underground mine with the capacity to export between 1-million and 1.5-million tonnes a year of coal. In the longer term, the Takatokwane operation could be developed into a multi-mine project delivering some 20-million tonnes of coal a year.
The project’s prefeasibility study would likely be completed by the middle of this year.
Walkabout’s shares were trading at a high of A$0.010 a share, up from an opening price of A$0.009 a share and Friday’s closing price of A$0.008 a share.
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