TVN Corporation (ASX: TVN) has lifted the trading halt on the company by announcing some very significant coal drilling results from the Nuurst project in central Mongolia.
The highlight is the continued significant coal sequence 192 metres thick, with multiple seams including a single seam of a substantial 115.5 metres thick.
Most importantly for the company - initial assays confirm high quality Mongolian thermal coal with a CV of 6635 kcal/kg (daf).
The market applauded the result with the shares jumping out of pre-open to sit up 30% on the day at $0.09, a major win for long time investors considering the share price was just $0.01 a month ago.
The happiest investors in the stock though must be the participants from the placement earlier in the month who managed to snaffle up shares at just $0.02.
Nuurst has an exploration target of 50 to 100 million tonnes of thermal coal, with a calorific value range Qdaf 6200 to 6800 kcal/kg.