GREENPOWER: LATROBE VALLEY DEVELOPMENT UPDATE 13 September 2013: Greenpower Energy Limited (ASX:GPP) through its subsidiaries holds a 100% interest in three Exploration Licences [EL] in the Latrobe Valley, Victoria. These are adjacent to three major brown coal mines. The licences have all been extensively explored for lignite (VBC/Victorian Brown Coal). At this stage there is an Inferred JORC resource of 573 million tonnes. The company considers that the highest value that can be extracted from VBC is designing, building and operating an environmentally responsible and efficient coal to liquids (CTL) operation. To this end Greenpower has negotiated exclusive licences for two CTL opportunities. One of the projects is a microwave based system invented by General Electric (GE) that is focussed on production of transport fuels. A second process developed by the Southern Illinois University transforms coal into a range of chemicals suitable as feedstock in the petrochemical industry. Because of the very large efficient mining operations currently in place in Gippsland the company intends to access feedstock for both projects from these mines or from one or more of the adjacent government reserves. Mining of the companies’ own resources is a matter for the future. The work program for all of our areas is now focussed on determining suitability of the coals for conversion using our licensed technologies. Core from EL4500 and EL4877 will be run through both processes. In EL5227 a cored drill hole is planned and the recovered material will also be tested. At present GE is carrying out a comprehensive series of trials on VBC and we should be able to report on outcomes before the end of 2013. A limited series of trials on Collie Coal is planned for October 2013.
B Rubes
MNM Price at posting:
3.5¢ Sentiment: Buy Disclosure: Held
