Great find Mogboy. I have attached a little further info from the same article that was left out of your post.
Mine May Expand - 230 local jobs expected in 2012 Posted 8 days ago
By Marilyn Gray
Wusaty said the coming demand in China is equal to four and a half times the amount of coal in all of Canada.
Wusaty said that he expects the mining operation to be successful and garner many potential investors due to Hinton's existing rail infrastructure and long history of mining success in the area.
"Hinton is the coal capital of Alberta," said Wusaty. "We don't get involved in coal projects that we don't think we can build."
Wusaty and his vice president of operations Denis Lehoux have decades of experience in the field and participated in the creation of four new coal mines in the past seven years.
"We believe it is possible to turn this into a world-class facility," said Wusaty.
Construction on the facilities that will be required is expected to begin in 2012 with coal production beginning at the end of the year in 2013.
Employees required for the construction phase are expected to number around 230 people with construction lasting between 18 and 30 months. Because the nearest pit will be only about 2.5 kilometres from the Town of Hinton, the company plans to put up employees in local hotels rather than set up a work camp.
While the project is still in the planning process, the company opened its local office in February 2010 in order to engage the community as early as possible.
"We do believe that in order to make these projects successful you have to get involved in the local community," said Wusaty.
END
When management, the likes of Gene Wusaty and Denis Lehoux, leave highly successful operations such as South Gobi Energy which now has a market cap of over $3 Billion CAD, and start using phrases as "World Class" to describe the proposed Coalspur operations, you know you are investing in a company with great opportunity. Lets not forget that they were Chief Operating Officer and Vice President and Operations Director respectively.
Whilst CPL may start to mine at 5-6 million tonnes pa it would not surprise me to see operations ramp up to 10-15 million tonnes pa several years after commencement of operations.
Keep up the great posts guys. Looking forward to the week ahead!!!
Regards
Danash
CPL Price at posting:
58.0¢ Sentiment: Buy Disclosure: Held
(20min delay)