HGM shifts focus to CSG

ASX-listed gold and cobalt explorer High Grade Metals (HGM) has announced a move into the coal seam gas (CSG) sector.

HGM on Tuesday announced that it had inked a binding agreement to acquire unlisted Jade Gas, which holds a 60% interest in a joint venture (JV) vehicle with Mongolian state-owned enterprise Erdenes Methane, which in turn holds a production sharing agreement with the Mineral Resources and Petroleum Authority Mongolia, to explore and exploit CSG over the Tavan Tolgoi coal field.