MRV Surat Basin Coal
In August of 2015, Moreton Resources announced to the ASX that is was restructuring the Company, and as a key outcome of this restructure, MRV Surat Basin Coal PTY LTD was developed with the specific intent of assessing and potentially advancing the MDL 420. This move also allows for the 100% transfer of this asset.
The Board of Moreton Resources has taken this step to allow MRV Surat Basin Coal PTY LTD to advance as a single entity, allowing the project to operate with far greater transparency and engagement. This will ensure consideration is given to the unique circumstances that surround the Surat Basin, as well as the potential for investment within the Basin as the next major Coal province in Queensland.
As outlined previously to the market, MRV’s project has significant advantages in large tonnes and having rail infrastructure located through the tenement. With the sole focus of operating and potentially advancing a project in the Surat Basin, the Company will seek to work with existing operators, potential operators and more broadly the Coal sector to potentially develop this region so that we can realise shareholder value from this considerable strategic resource.