This Co. would be one of my picks for 2018
"MRV TARONG BASIN COAL ANNOUNCES SIGNIFICANT COAL RESOURCE FOR MLA700015 ➢ Sufficient Coal resources identified within MLA700015 to out see current 25-year mine life application ➢ Significant levels of confidence in resource estimate with less than 1% being identified as inferred ➢ Significant opportunity for Mine Plan optimization and re-evaluation of 2015 PFS release
MRV Tarong Basin Coal Pty Ltd has declared a material JORC Resource Estimate for its Thermal Coal Project in the South Burnett, MLA700015, located in South East Queensland. Whilst the Company also has a prior JORC release across MDL385 and EPC882, this new release is relevant to the mining lease application area only, which is also subject to a current Environmental Impact Statement assessment and advancement plans by the Company. The update is under the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) as set out in Figure 1, Figure 2, Figure 3 and Table 1. The Coal Resource estimate for MRV Tarong Basin Coal Pty Ltd, reported on an in-situ basis, has identified within the boundary of MLA700015 a total resource estimate of 517.5Mt having the following categories of confidence; 134Mt Measured, 383.5Mt Indicated and 6.6Mt Inferred. Moreton Resources Limited’s (MRV) Executive Chairman, Mr Jason Elks said “This coal asset is a significant prospect for the Moreton Resources Group of Companies, and given the continued improvement in our studies and refinement in our planning for potential strip ratio; calorific values; and location we will continue to fast track our revised Mine Planning, re-evaluated PFS and reflect what are expected to be significant positive results in our EIS submissions, which are due to be released pending Government review, in the second calendar quarter of 2018.”
As the market is aware, a significant NPV was issued to the market in late 2015 which relied upon approx. 5.5Mt per annum production of domestic coal supply, at a AUD pricing of $50.00. This result around our resources within MLA700015, will allow us to re-run our mine plan and expected outcomes which is currently being undertaken. The key differentiators for that revised study will be the following inputs: • Export market focused, including additional costs for transport and port access • An 80% increase in Product Coal expectations from 5.5Mt to 10Mt per annum • Increase of 100% in expected thermal coal benchmark pricing from AUD$50 to AUD$100 However, these studies are ongoing, our next announcement pertaining to this project will be our updated declared reserves, FGX coal testing for dry coal separation, followed by our updated PFS and NPV, followed by the submission of EIS and opening of public comment upon our proposed project.
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