Joonbug Exploration Fund

joonbug exploration fund (jef) operates in the appalachia coal space. jef is developing a portfolio of coal permits, leases and operations representing different niches of coal production including, but not limited to, thermal, met and industrial coals. the purpose of jef has been to take advantage of the cyclical low reached in the coal markets in 2016 and secure long term opportunities in the coal space. jef acquires opportunities via several methods: jef may acquire a contractual income interest in a permitted mine; jef may directly acquire the mineral lease from the landowners, and develop the permit; or jef may find an existing permit and invite a sister company to co-invest as a minority partner in that permit holding entity. at this time, jef is not a property owner, but a long term permit and leaseholder. jef operates as an environmentally conscientious mining entity; and jef's partner who manages all mining operations is one of only a handful of operators that has received the