Bowen Basin explorer focused on acquiring developing and value adding metallurgical coal prospects.
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Four EPCs were joint ventured out to unlisted coal explorer, Blackwood Resources Pty Ltd in April 2010, leaving AQC with a 10% free carried interest up to feasibility study stage. Under the terms of the JV, Blackwood pays AQC $125,000 upon grant of each EPC and is required to expend at least the minimum exploration commitment with the aim to prove up a coal resource and complete a feasibility study for the project(s). Blackwood can withdraw at any time and offer the project(s) back to AQC at no cost.
The EPCs cover large areas over the Clarence-Moreton, Surat and Galilee Basin, prospective for shallow thermal coal. Any enquiry regarding the tenements should be directed to Blackwood Resources as manager of the projects.