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Colonial Coal PEA for Open Pit Mine at Huguenot Project

Coal News - Published on Thu, 28 Nov 2019

Image Source: Colonial Coal Huguenot
Western Canada's leading coking coal develop Colonial Coal International Corp President and CEO Mr David Austin announced the results of a recent Preliminary Economic Assessment for a stand-alone open pit option at the Company’s 100% owned Huguenot coking coal property located approximately 85 kilometres southeast of Tumbler Ridge in northeast British Columbia. This PEA for the stand-alone open pit mine on the Huguenot Project is preliminary in nature and there is no certainty that the forecast results stated in the PEA will be realized. In addition, the PEA includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainly that the preliminary economic assessment will be realized. Furthermore, mineral resources that are not mineral reserves do not have demonstrated economic viability.

The results of the PEA show that the Huguenot Project continues to demonstrate positive economics, has viable development options and is worthy of advancement.

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Posted By : Yogender Pancholi on Thu, 28 Nov 2019
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