The strength of the low cost Moolarben open-cut mine is well known.
One of the most important factors is the Athena tenement that has 560 million tonnes of inferred thermal coal and FLX are at present working to raise this towards indicated status. This future mine surrounds Minerva and can use the Minerva infrastructure and costs will be low to bring it into production. Coal quality is excellent and inline or better than Minerva. Production could be raised to 10mtpa over time with a 40 to 50 year mine life.
Work is being carried out at the North Yarrabee Tenement where semi-anthracite and PCI coal has been drilled and confirmed at the same quality as the Yarrabee mine.
FLX Price at posting:
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