Acacia Coal Limited (ASX: AJC) has published quarterly activities report for three months ending 30 September 2019. Major highlights for the September quarter include:
- The company received the initial soil samples at the Mt Bruce project showing anomalies for nickel-cobalt, copper-cobalt mineralisation and potential for gold mineralisation.
- The company received and analysed the drilling data from 9 RC holes over 946 metres during the quarter
- AJC will continue to review strategic opportunities and conducted due diligence over several projects which may help the company in maximising shareholder value
- The board and advisor of the company continue to evaluate additional projects both domestically and internationally
- At the end of September quarter, the company had cash equivalent of $2.535 million.