AGM Presentation
Sydney, Nov 30, 2016 AEST (ABN Newswire) - Atrum Coal NL (
ASX:ATU) (ATRCF:OTCMKTS) is pleased to provide the company's AGM Presentation.
Corporate Overview
Groundhog Project
The world's largest undeveloped ultra-high grade anthracite deposit in British Columbia, Canada
US Sales Joint Venture
Atrum has agreed to form a Joint Venture with Atlantic Carbon Group to manage export sales from its anthracite mines in Pennsylvania, USA
Management
In-country team led by Executive Chairman Bob Bell
Atrum Corporate: Key Achievements
Commercial
- Agreement to Form US Sales Joint Venture - for export sales of 250,000tpa ultra-high grade anthracite with Atlantic Carbon Group PLC. JV sales expected to provide significant positive cashflow in 2017, to be used developing Groundhog.
- Kuro Coal Assets - identified additional north American hard coking coal opportunities for Kuro Coal and currently considering a public listing of Kuro Coal as originally planned.
- Kuro Coal Board - revised Board for Kuro Coal in preparation for a possible public listing, along with commercial and taxation advice of an in-specie distribution as originally planned.
People
- Executive Chairman - Canadian coal industry veteran Bob Bell elected to lead Atrum Coal, based in Vancouver, Canada.
- Renewed Atrum Board - identified high profile potential new board members and initiated process of succession planning.
- VP - External Relations - highly respected Canadian public coal advocate and ex-Deputy Minister in Government, Ann Marie Hann joined Atrum.
Financial
- BC Anthracite litigation - secured life of asset royalty over all BC Anthracite tenements, and transfer of five additional tenements from BC Anthracite to Atrum Coal.
- Anglo Pacific - completed repayment of the Anglo-Pacific promissory note.
- Corporate Overheads - consolidation of Australian and Canadian offices.
Summary
Groundhog is the world's largest undeveloped ultra-high grade anthracite deposit.
Atrum has received permits enabling construction, mining and distribution of samples to potential customers.
The agreement to form US Sales Joint Venture between Atrum and Atlantic Carbon provides a low-risk entry to anthracite sales. Expected revenues from the sales will be used to support the development of Groundhog.
To view the presentation, please visit:
http://abnnewswire.net/lnk/IK343284
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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