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BATHURST RESOURCES LIMITED

ASX: BRL

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Description

Bathurst Resources Limited is an Australian listed company focused on becoming a producer of high quality coking and thermal coal to niche export markets.

Bathurst is developing a highly prospective, high quality hard coking coal project located in the Buller Coalfield in the South Island of New Zealand. The company has also recently acquired Eastern Resources Group, with assets including two operating mines and a development block adjacent to the Buller project.

Buller Coal Project

The highly prospective high quality hard coking coal Buller Coal project is Bathurst Resourcesí flagship project.

During the December quarter 2010 Bathurst signed an agreement with L&M Coal Holdings to acquire the Buller project, through the acquisition of 100% of L&M Coal Limited.

The Buller project area comprises two permits that cover over 10,000 hectares of the Buller Coalfield. The permits largely surround state-owned, Solid Energyís Stockton open cut mining operation.

Previous exploration on the permits has established potential for an initial 50 million tonne resource. This has been confirmed by recent exploration and drilling activities which show the project currently hosts a JORC Resource of 47.1 million tonnes.

The recent completion of a Definitive Feasibility Study on the Escarpment confirms the viability of a one million tonne per annum coal mining operation. The company expects the introduction of Deep Creek, its second mining area, by the end of 2013 will then lift production to approximately 2 million tonnes per annum.

Eastern Coal

In March 2011 Bathurst completed the acquisition of Galilee Energy Limited's wholly owned subsidiary Eastern Resources Group Limited. The strategic acquisition will consolidate Bathurstís Buller Coal permit holdings with Easternís Whareatea West exploration permit adjacent to Buller's Escarpment block. Furthermore, it provides immediate positive cash flow from Eastern's two operating coal mines - the Takitimu mine in Ohai and the Cascade mine on the Buller plateau, with combined production of approximately 200,000 tonnes per annum.

Mine For

coal, coking coal

Location of operation(s)

New Zealand

Address

5 Lindsay St
PERTH, WA, 6000, AUSTRALIA

Phone

(61 8) 9481 2100

Email

Website


Last Updated

8/08/2016

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.