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Quarterly Activities Report of Bowen Coking Coal

Coal News - Published on Mon, 03 Aug 2020

Image Source: Bowen Coking Coal
Bowen Coking Coal Ltd has provided shareholders the following update in respect of the Company's activities carried out across its portfolio of projects located in Queensland's Bowen Basin, for the quarter ended 30 June 2020.

HIGHLIGHTS:
Acquisition of the 33 million tonne Broadmeadow East Coking Coal project and associated USD 2.25 million capital raising
Sumitomo elects to proceed with Hillalong JV post successful completion of Phase 1 Farm-In
Issuance of maiden JORC Resource of 43 million tonne at Hillalong North
Matt Latimore joins the Board as a Non-Executive Director

Broadmeadow East Coking Coal Project - In a significant milestone, on the 24 June 2020, the Company announced that it had executed binding agreements with Peabody (Burton Coal) Pty Ltd, a wholly owned subsidiary of US headquartered Peabody Energy Corporation, whereby BCB will acquire the Broadmeadow East coking coal project, located within undeveloped Mining Lease 70257. The Company's independent consultants, Xenith Consulting, were commissioned to review all available and relevant data and have completed a Resource Estimate of 33 million tonne, in accordance with the JORC Code

The transaction includes access rights to both the New Lenton Joint Venture Coal Handling and Preparation Plant and the Train Load Out Facility, which are connected by an established haul road passing immediately adjacent to ML 70257, as shown in Figure 2. The Company has secured throughput capacity of a minimum of 1 million tonne, with the ability to potentially increase this capacity to a total of 2 million tonne, subject to agreement.

Summary of the Resource Estimate for Broadmeadow East
SEAMMEASUREDINDICATEDINFERREDTOTAL
< 100m6.41.9311
> 100m0.12.22022
TOTAL RESOURCES6.54.12633
 


Broadmeadow East is covered by ML 70257 and is located about 25km northeast of the township of Moranbah, within the Central Bowen Basin in Queensland. It is approximately 30km north west of BCB's Isaac River project and 45km south of the Company's Hillalong Coking Coal Project. The Project is abutting Fitzro/s Ironbark No 1 project in the North East, Broadlea pit in the South and Peabody's Broadmeadow West mine to the West

As part of the transaction, the Company has secured access to the New Lenton Joint Venture CHPP and associated TLO. The CHPP is located approximately 20km north of Broadmeadow East, whereas the TLO is located 10km to the south. The CHPP is currently on care and maintenance, however the recommissioning process is well understood. The TLO links into the Goonyella to Hay Point railway line, which is approximately 10km to the south and is about 200 km by rail from the Dalrymple Bay Coal Terminal - see Figure 2.
Coal Quality

The Leichhardt seam is amenable to two-stage washing to produce a semi-hard coking product with a secondary thermal product.

Peabody provided a coal quality database for the Broadmeadow East mining lease with raw coal qualities, simulated primary coking and secondary thermal products (ash and yield) and clean coal composite qualities.

Source :

Posted By : Yogender Pancholi on Mon, 03 Aug 2020
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