PERTH (miningweekly.com) – Diversified junior Cougar Energy on Wednesday refuted claims that it was selling off its Mackenzie and Wandoan coal tenements, in Queensland.
The company was responding to media speculation that the Mackenzie and Wandoan coal tenements were considered to be noncore assets, and would be divested.
“The company advises that this reporting is incorrect. These assets are core assets and form an integral part of the future value drivers for shareholders,” said CEO and MD Rob Neill.
The Wandoan project hosts a Joint Ore Reserves Committee-compliant resource of some 360-million tons, while work was under way at the Mackenzie project to compile a maiden resource.
Neill said on Wednesday that Cougar was still on the hunt for strategic or cornerstone investors to participate in these assets.