Annual General Meeting Presentation 2014
Perth, Nov 28, 2014 AEST (ABN Newswire) - Atrum Coal NL (
ASX:ATU) (ATRCF:OTCMKTS) provide the Annual General Meeting Presentation for 2014.
Achievements include:
Consolidation of entire 800km2 Groundhog Coalfield through Panstone and Anglo Pacific acquisitions
- Major exploration works with >160 diamond core drill holes at Groundhog completed to date
- In May, Groundhog North PFS delivers A$1 billion post-tax NPV10 with 39% IRR
- In October, Supplementary Groundhog North SPFS delivers A$1.7 billion post-tax NPV10 with 42% IRR
- Appointment of Senior Management - Anthracite Marketing and Business Development, Finance & Operations
- Key coal licences and work programs granted following First Nations consultation
- Largest First Nations contingent for direct and indirect employment in Company's history
- Appointment of experienced coal mining and infrastructure NEDs to Board
- Successful trial of the shiploader at Stewart Bulk Terminals
- Port allocation at Stewart Bulk Terminal increased from 1.5Mtpa to 3Mtpa (non take or pay)
- Establishment of Anthracite Marketing Advisory Committee and Senior Appointments
- Acquisition of Elan Coking Coal Project and completion of maiden exploration program
- Independent Exploration Target of 32.6 to 33.6 billion tonnes for entire Groundhog tenure*
- Offtake discussions well advanced with Japanese, Korean and Taiwanese anthracite market participants
To view the full presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATU-702007.pdf
About Atrum Coal Limited
Atrum Coal Limited (ASX:ATU) is a metallurgical coal developer. The Company flagship asset is the 100%-owned Elan Hard Coking Coal Project in southern Alberta, Canada. Elan hosts large-scale, shallow, thick, hard coking coal (HCC) deposits with a current JORC Resource Estimate of 298 Mt (70 Mt Indicated and 228 Mt Inferred). Comprehensive quality testing of Elan South coal on samples from the 2018 exploration program, combined with review of substantial historical testwork data for the broader Elan Project, has confirmed Tier 1 HCC quality.
The initial focus for development is the Elan South area, which is located approximately 13 km from an existing rail line with significant excess capacity, providing direct rail access to export terminals in Vancouver and Prince Rupert. Elan South shares its southern boundary with Riversdale Resources Grassy Mountain Project, which is in the final permitting stage for a 4.5 Mtpa open-cut HCC operation. Around 30km to the west, Teck Resources operates five mines (the Elk Valley complex) producing approximately 25 Mtpa of premium HCC for the seaborne market.
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