Resolve Geo Pty Ltd have entered into a joint venture agreement with Syngas Ltd, an Australian leader in Synfuel production, over the Agnes lease. ELA 5212 lies within the Alberton Depression, in the southern portion of the onshore Gippsland basin. The target is the Gelliondale brown coal seam which has been recorded up to 47 m thick within the lease. The area has a resource potential of over 600 Mt with initial cumulative stripping ratios ranging from 0.33 to 1.7. Coal quality is comparable to other producing coal mines within the Latrobe Valley, As reported on an air dried basis, ash is approximately 6%, total moisture ca 62%, specific energy ca 25.5M/j, sulpher ca 0.2% and volatiles range from 49 – 52%.