Fortbridge Media ReleaseCelsius Coal Limited [ASX: CLA] - Company Insight Unique 250mt+ Coking Coal ProjectCelsius Coal (ASX: CLA) has released a transcript of the lodged company insight recorded from Celsius Coal Executive Chairman Alexander Molyneux by companyinsight.net.au.
Highlights:
* Maiden inferred 250mt+ coking coal resource in Uzgen Basin in Kyrgyz Respublic located near rapidly expanding steel production markets across the border in Xinjiang Province, China.
* Very large deposit, with excellent indications of coking coal quality including low contaminants, good existing infrastucture links, and low cost-to-market.
* Unique feature is Company inheriting large quantities of detailed Soviet-era data of a high standard Celsius is effetively re-drilling an already-delineated resource. Hence, unusually rapid maiden JORC resource definition. Excellent corellations with historic data to date underpin expectations of rapid next stages of project development.
* Exposed areas of deposit appear amenable to surface mining, with a potential 1-2 mtpa raw coal production by 2015 with truck-based export to Xinjiang markets. This simple, low-cost and low-CAPEX start-up can significantly de-risk the project and provide early cashflow to assist with funding an expanded 5 8 Mtpa operation.
* Fully-funded program for 2013 to complete resource upgrade drilling, the feasibility program (to convert main Kargasha deposit to a mining license) and firm-up markets and customers.
* Longer-term development strategy also discussed.
Quoting Mr Molyneux:
In terms of quantity, the maiden inferred resource is 255 million tonnes of coking coal, comprising the adjacent Kargasha and Kokkia licenses. This is a very large single point contiguous coking coal resource larger than the contiguous single point sources held by other peers looking to land-export coking coal to China such as Xanadu, Aspire Mining or Guildford.2 Its still early stages and hence significant resource upside exists. In terms of status, this is a maiden resource in the inferred category.
Please see the attached announcement for more details.
For further information, please contact:
Ranko Matic
Company Secretary
Telephone: +61 (08) 9226 4500
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