Supplementary PFS Results Presentation
Perth, Oct 20, 2014 AEST (ABN Newswire) - Atrum Coal NL (
ASX:ATU) (ATRCF:OTCMKTS) provide the latest presentation on the Groundhog North Underground Mine, showing the optimised PFS has yielded further compelling results.
The highlights from the presentation are:
- Worlds largest undeveloped anthracite deposit 1.57Bt
- Low capital intensity ($110/tac)
- Globally competitive operating costs
- Very low capital cost ($58m) entry into development mining in 2H 2015
- Highest value metallurgical coal products
* Lump products currently selling in Japan and Korea at significant premium to hard coking coal
- Existing infrastructure enables export on non takeor-pay terms
* Road to Stewart Port
* Dedicated terminal available at Stewart Port
* Existing railhead 30km from mine
* Option to utilise Ridley &/or Westshore Terminals
- Capital requirements funded through minority asset stake sale in Groundhog North (GHN).
* Completion in H1 2015
To view the presentation, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-ATU-695497.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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