Cuesta joins forces with Hancock

CUESTA Coal has announced a joint venture with Hancock Prospecting in Queensland.
Cuesta joins forces with Hancock Cuesta joins forces with Hancock Cuesta joins forces with Hancock Cuesta joins forces with Hancock Cuesta joins forces with Hancock

Cuesta directors Matthew Crawford and Brice Mutton at Wandoan

Staff Reporter

The tenement EPC 2080 has been granted and is part of the Snake Creek joint venture between Cuesta and Queensland Coal Investments (QCI), a wholly owned subsidiary of Hancock Prospecting.

Cuesta has a portfolio of six key projects in the western Bowen, Surat/Clarence, Moreton and Galilee coal basins in Queensland.

Another application for adjoining tenement EPCA 2079 is being processed.

Under the terms of the agreement, QCI is able to earn up to a 51% interest in the two tenements through the expenditure of $3 million on exploration, in two stages.

QCI can earn 25% interest through the staged development and expenditure of $1.5 million and a further 26% through the expenditure of a further $1.5 million.

topics

loader