why the almost 5% decline today?, page-35

“Central Queensland Coal Project” consists of an open cut operation and rail connection to the Queensland Rail North Coast Line. The Project is a joint venture partnership between CQCPL (99%) and Fairway Coal Pty Ltd (1%).

The Project intends to mine 2.0 Mtpa of run-of-mine coal, which when processed will produce 1.5 Mtpa of semi soft coking coal. The project will initially commence operations with a 1.0 Mtpa open cut mine, eventually ramping up to 2.0 Mtpa and in later years up to 10.0 Mtpa.

Key elements of the Central Queensland Coal Project are:

• Exploration Permit for Coal 1029;
• Mineral Development License 468;
• Mining Lease application 80187 and 700022;
• JORC Coal Resources of 206 Mt;
• Coal quality, energy coal ranked up to 7350 k/cal (adb) and CSN values of 5 to 6; and
• Mine developments and infrastructure plans for staged product output.