cr121296

Mackenzie Coal Pty Ltd (a 95% owned subsidiary of Stanmore Coal Ltd, 5% held by Bowen Coking Coal Limited) is the tenement holder of Exploration Permit for Coal 2081 - Mackenzie Project (EPC 2081). EPC 2081 comprises 112 contiguous sub-blocks covering approximately 350 km2 situated in the vicinity of the town of Comet within the Central Bowen Basin, Queensland.
Regionally EPC 2081 has DNRM Project Status as part of the ‘Central Bowen Project’ which also includes Stanmore EPCs 1186, 1798, 1114, 1113, 2371, 1168, 1580, 1687, 2039 and 2157.
In recent years, EPC 2081 has been subject of extensive exploration programs which have included drilling, geophysical surveys, coal analysis, modelling and resource estimation. Consequently, Xenith Consulting (on behalf of Stanmore) has identified a total JORC compliant coal resource of 143.7 Mt, consisting of 25.7 Mt Indicated and 118 Mt Inferred within EPC 2081. The resource area occupies the western edge of the lease area and lies within the Leo & Aquarius seams of the Permian Burngrove Formation.
The current objective is the further assessment of the area to ascertain whether the defined existing resource (or parts thereof), could be profitably extracted. Cape Coal Pty Ltd delivered a Conceptual Mining Study on Mackenzie project in February 2013, which investigated preliminary economics of the Mackenzie Project as a mine producing both coking and thermal products.
During this reporting period Stanmore conducted a portfolio tenure assessment strategy and participated in a data sharing agreement . Over the next reporting period Stanmore plans to review the project by updating the Mackenzie Project economic models utilising current cost and revenue assumptions, then consider and evaluate the internal and external opportunities to produce the ideally marketable product/s.