re: Ann: CEO Presentation to MetroCoal Annual... It seems that MTE will be producing some sort of coal out of the open cut Goombi project before the likes of other developers such as BND, SMR, CLR and even COK.
At this stage it looks like 1-1.5Mtpa but who knows with further drilling could even be more. As the presentation suggests this proposed operation is not dependant on SBR.
They will look to rail the coal to the Port of Brisbane. The railway line to Port of Brisbane is on MTE/Sinocoal's tenement and virtually sits under and around the railway.
They are applying for a mining lease in first quarter of 2013 by which stage I expect that they will have a probable reserve by that time or shortly after.
Will be interesting to see the OPEX and CAPEX. Opex should be considerably less than Bundi one would think given the very low strip ratio of possibly 3:1 and shorter distance to Port.
Like I said in a previous post, it really is starting to look good for MTE but the market don't give a rats! Thermal coal is dead right now.
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