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Moreton To Secure Cash Flow

Filed under Breaking News, Business, Latest News

Moreton Resources executive chairman Jason Elks

October 4, 2017

Moreton Resources’ project near Texas has secured a mining lease from the State Government, and the company says the silver, copper, zinc and gold project should be fully operational by January.

In a media statement on Tuesday, Moreton said the operation would then result in an “immediate positive cash flow” for the company.

Moreton’s South Burnett plans were not mentioned in the statement to the ASX but were referred to in the media release:

“We have already made a significant impact in the day-to-day business community within Texas and more than 60 per cent of our current staffing have all been recruited from the local area,” Managing Director Jason Elks said.

“This will continue to be our trend and is a fundamental ethos of the way the Moreton Resources Limited Group operates, and hence we expect to see similar significant advancement in the South Burnett in the next 12-18 months, pending approval advancement of our ML (mining lease) application for the South Burnett Coal Project  through … MRV Tarong Basin Coal Pty Ltd.”

Mr Elks praised the co-operation he said Moreton had received for the Texas project from the State Government, Goondiwindi Regional Council and Southern Downs MP Lawrence Springborg.

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