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31/10/11
11:45
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re: Ann: 500% JORC Resource Upgrade at Rockwo...
Rockwood has PCI coal, which is the same coal that MacArthur Coal (MCC) predominantly produces
MCC is about to be taken over (71% completed) by USA's Peabody Coal
Rockwood is adjoining MCC's Willguna deposit and not the MCC Codrilla deposit (as EOC's presentation deceptively shows)
MCC's Codrilla was chosen (over Willguna) to be developed as MCC's 4th mine this year, targeting 2013 completion
the primary reason for this is Codrilla is much much closer to existing infrastructure
but the Willguna deposit is much larger than Codrilla deposit, with 318mt vs 79mt
also, Vermont East adjoins Willguna with an additional 180mt
so EOC's Rockwood is part of the Vermont East/Willguna block, having 312mt
so whilst this area is around 60km away from infrastructure, it is a very large deposit
MCC completed a pre-feasibility study on Willguna and continues to work on Willguna for further, post 2014, development
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