re: Ann: Positive Results for Bundi Project S... 10:55 am...

re: Ann: Positive Results for Bundi Project S... 10:55 am Positive Results for Bundi Project Scoping Study

Highlights
Mine life of 28 years producing over 5 million sales tonnes on average per year
during steady-state production
Project NPV real, before tax, is between $600 million and $660 million at a 10%
discount rate and the IRR, before tax is between 16% and 17%.
Continuous coal seam amenable to underground longwall mining
Mining seam section 2.75 – 3.65m
Average yield from mining study 78% at 6300kcal/kg GAD
Average cost to FOB $80.72 per tonne, excluding royalties
Initial Capital expenditure $994 million


9:18 am Maiden Indicated Resource for Columboola JV
Highlights
Maiden Indicated JORC Resource of 94.7 Mt for Columboola
Total Resource increased by 26% to 1.7 Billion tonnes
MetroCoal’s total thermal coal resource now 4.2 Billion tonnes
Conceptual study underway