Hodges eschews project after finding 768Mt

BOTSWANA-focused coal explorer Hodges Resources has established an encouraging maiden resource of 768 million tonnes of inferred coal at its Moiyabana tenement, but has decided not to pursue its option to take a larger stake in the project.
Hodges eschews project after finding 768Mt Hodges eschews project after finding 768Mt Hodges eschews project after finding 768Mt Hodges eschews project after finding 768Mt Hodges eschews project after finding 768Mt

Hodges Resources managing director Mark Major

Justin Niessner

A recent 68-hole exploration program at the 600sq.km site resulted in a 358Mt indicated resource at an 80m open cut depth and a further 410Mt inferred resource.

Despite expressing satisfaction with the scope of the project’s maiden JORC assessment, Hodges managing director Mark Major said the company would instead focus on its flagship Morupule South project which contains an inferred coal resource of 2.3 billion tonnes.

“As a priority, Hodges is committed to fast-tracking our development of the Morupule South coal project in Botswana,” he said.

“Whilst we see commercial opportunities at Moiyabana, as a junior mining company the board has decided to focus where we see a better return on shareholders’ funds and a high probability of commercial production.”

Progress at the 265sq.km Morupule site includes the commissioning of concept studies, infrastructure studies and a proposed power generation project conceptual study.

Hodges is completing a joint venture earn-in for 75% and up to 99% in Morupule with the Botswana-based SDNP Manufacture Mining and Construction Services.

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