Presentation to Canadian Coal Conference
Sydney, June 10, 2016 AEST (ABN Newswire) - Atrum Coal NL's (
ASX:ATU) (ATRCF:OTCMKTS) Groundhog project has the potential to be the largest supplier of seaborne anthracite, within a relatively short timeframe. The project has the attributes to become a long-term source of reliable global supply into multiple markets and geographies.
Project
Consolidation of entire 800km2 Groundhog Coalfield
Successful exploration of Groundhog delineating 1.02Bt of JORC Resource
Awarded Bulk Sample Permit - Q2 2016
Transport
Port allocation at Stewart Bulk Terminal increased from 1.5Mtpa to 3.5Mtpa (non-take or pay)
Effective trial of the shiploader at Stewart Bulk Terminals in 2015
Commercial
Signed Offtake MOUs with Japanese, Korean and European customers
Arranged and executed $100M Equipment Finance Package
Continued discussion on JV's at Groundhog and Panorama
The Groundhog North Mining Complex now includes a staged approach to development initially employing a low cost starter mine producing 880,000tpa ultra-high grade anthracite.
This continuous miner underground mine will allow the Company to:
- establish operations in the area, and prove the logistics chain
- continue to develop long term and sustainable relationships with the Company's aboriginal partners
- establish customer channels
- investigate alternative high value markets
- generate early cash flows
To view the presentation, please visit:
http://abnnewswire.net/lnk/J72748HO
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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