cr121172

Comet Coal & Coke Pty Ltd is the holder of Exploration Permit for Coal 2030, The Range (EPC 2030), which comprises 2 sub-blocks and is situated approximately 20 kilometres east of the township of Wandoan, approximately 310 kilometres northwest of Brisbane.
EPC 2030 comprises around 6 km2 of the Jurassic age coal bearing Surat Basin. The Surat Basin covers a large part of South East Queensland and contains many operating thermal coal mines and a number of undeveloped thermal coal deposits. Stanmore Coal (through its wholly owned subsidiary Comet Coal & Coke Pty Ltd), owns the neighbouring EPC 1112 tenement. Stanmore refers to the combination of EPC 1112 & EPC 2030 as the Range Project.
Resource modelling to date notes that EPC 2030 contains a JORC Inferred resource of 30.5Mt, as part of the wider total 287Mt resource within the Range Project. The present aim within EPC 2030 and the wider Range Project is to investigate all possibilities for development and exploitation of open-cut resources identified in the tenure area.
During this reporting period Stanmore did not complete any works due to a combination of factors including the lack of a presently foreseeable rail infrastructure solution, the COVID-19 pandemic and associated physical restrictions, poor coal prices and market signals.
In the upcoming period Stanmore will monitor thermal coal markets with consideration of the project and likely update the Range Project Feasibility Study economic models with updated cost and revenue assumptions and assess results in relation to EPC 2030.