to infinity and beyond - grootegeluk

Appendix A in the Investor Roadshow Announcement is interesting, holds up the Exxaro Grootegeluk mine as a development template for FSE.

EXXARO'S GROOTEGELUK MINE - A DEVELOPMENT TEMPLATE

1. Grootegeluk employs 1,700 people and produces 18,1-million tons of thermal and semi-soft coking coal a year.
   
   
2. Mining method: Open pit



3. Total proven and probable reserves as at January 2006,were 740-million tons.



4. Ownership: Exxaro (100%)



5. The Grootegeluk mine has the world’s largest beneficiation complex

FSE suggesting the sheer scale of their Resource,(1.4billion tonnes of coal),warrants a similar mine. Fits in with CEO Garth Higgo's comments in the Business Report:

"Australian Firestone Energy, the JSE-listed junior coal mining company, was exploring for coal in the Waterberg and planned to spend A$250 million (R1.6 billion) developing a mine, chief executive Garth Higgo said yesterday...The project is expected to produce at least 18 million tons of coal a year and to create about 1,700 jobs."

Same number of jobs to be created as those currently employed at Grootegeluk.
Big plans afoot.