Natasa Mining Ltd. said Nov. 6 that management at its Fox Creek Coal Project in Alberta, Canada, has prepared a technical presentation covering the western part of the approximately 1.4 billion tonnes coal resource.
Out of that resource, 777 million tonnes are measured and indicated in accordance with Canadian National Instrument 43-101 guidelines. The project is owned by Natasa subsidiary Alberta Coal Corp. The mining scoping study is limited to less than one-half of the originally acquired 22,633 hectares at Fox Creek and also excludes the 19,008 hectares recently granted by the government of Alberta, Natasa said.
Highlights of the study, which is based on a thermal coal price range of US$90-US$110 per tonne, include:
- 318 million tonnes of coal mined during a mine life in excess of 33 years;
- Annual production of 5.35 million tonnes/year of saleable product;
- Mine life operating cost of US$64.29 product tonne (FOB); and
- Mine initial capital cost (after allowing for mining contractor and leased draglines), US$369m.
Natasa Mining is listed on the AIM segment of the London Stock Exchange. The company website said a substantial shareholder is Chrisilios Kyriakou (45,000 shares) and a company, Resource Capital Partners Inc. (6,142,058 shares), controlled by him. The total holdings are 21.16% of the issued capital.
Another substantial shareholder is Murray Morgan Investments Ltd. with 8,109,770 shares (27.73% of the issued capital). Significant shareholders are Highgrounds Holdings Ltd. with 2,413,730 shares (8.25% of the issued capital) and Bismark Intervest Inc. with 2,036,538 shares (6.96% of the issued capital).