CXY announced a Conceptual Mining Study for a proposed...

CXY announced a Conceptual Mining Study for a proposed underground mine in QLD this morning. The CapEx side of the study is useful for making comparisons to Nowa Ruda (NR), and the potential savings that have been made by acquiring a project that is of an advanced nature rather than just "coal in the ground".

I realise that we will have SOME underground development costs, but compared to CXY who is starting from scratch, as one would expect, it looks like we have saved ourselves some massive dollars. Transport/railway costs will also be negligible since there is a rail line to the mine gate. I have no idea what EPCM and Owners costs relate to. Costs in Australian are high when compared to Poland.

Below is the expected CapEx for a new underground mine in QLD, depth 451m. No doubt we won't have saved the whole underground CapEx amount as there will obviously have to be some rehabilitation work done to the existing shafts, but IMO, it looks like we may just have an approximately $400M head start with NR because of the existing shafts which is great news. IMO, this CapEx saving would then flow through to substantially lower our per unit mining cost.

I'm sure I read somewhere (European press??) an anticipated CapEx of $80M-$110M for BMB at NR, but I can't find the source to reference it here.

I look forward to similar studies being released by BMB!!