- Resource: 66 million tonnes. - Reserve: 44 million tonnes. - Annual coal sales; Industrial & Eskom 1.7 million tonnes; or All Eskom 2.1 million tonnes.
The granting of a mining lease puts Xceed on track for first production from Moabsvelden in mid-2014.
The project has many competitive and economic advantages over other projects, and by being just 50 miles away from Johannesburg and the end user market, this provides the project with a freight advantage equivalent to US$9/t over the majority of its competitors.
Another plus is that all mine production is by means of a single box cut, thereby avoiding the need for expensive development in future.
With Eskom's coal demand set to increase dramatically as it builds the third and fourth largest coal fired power stations in the world - Xceed is well placed to tap this demand.
XCD Price at posting:
11.0¢ Sentiment: Sell Disclosure: Held