to go further on, we have to noticed“The reality is that the...

to go further on, we have to noticed

“The reality is that the requirement for metallurgical coal in the process
for steel production will remain intact for the foreseeable future and likely for
decades to come.

“The Board continues to receive numerous enquiries relating to the Lochinvar
metallurgical coal project, with geopolitical events driving a dramatic change
in demand for metallurgical coal.

”The 2017 update was undertaken at US$160/t for spot hard coking coal against
operating costs of US$58/t. The API2 price for coal imported into north-west Europe
is currently around US$260/t.

A further optimisation study in 2019 showed the project could be mined with competitive
Bord and Pillar underground mining methods down to depths of 400m, with 33Mt of
the Lochinvar resource in the Nine Foot seam between 200-400m deep.

According to analysis from Wood Mackenzie, New Age would deliver a low ash high
volatile coking coal product at Lochinvar with a high yield that will be attractive to the
UK and European steel industry.

NAE says it is comparable to highly sought after US High Vol A Hard Coking Coal.


The brighter outlook for NAE’s Lochinvar coking coal project after the Woodhouse
decision shows it has three strong fronts to focus its attention on in 2023.

NAE also owns gold assets in New Zealand’s Otago region, where it is searching for
gold deposite at the Lammerlaw project similar in nature to the 10Moz plus Macraes
gold mine.
It is also exploring for gold and lithium in the Pilbara, in the underexplored Mallina-Whim
Creek Basin close to the world class Wodgina and Pilgangoora lithium mines and Hemi
gold deposit.

Last week NAE announced it had uncovered extensive lithium geochemical anomalies at its
Central Pilbara project with values of up to 843ppm lithium in five areas up to 8km long,
3km wide and open in all directions.

Outcomes of recent and upcoming exploration activities, including a helicopter
reconnaissance program, will be used to refine and prioritise gold and lithium drill targets.


hope this helps to get an objective view.
elsolivars