gordon saul - resolve geo - the hyde park coal project
DESCRIPTION
Gordon Saul, Managing Director, Resolve Geo delivered this presentation at the Galilee Basin Coal & Energy Conference. This conference focuses on developing a new, world scale energy province in Central Queensland. It looks at the significant proposed investment in the Galilee area including coal mining, underground coal gasification, coal seam gas, geothermal, shale and much more, bringing together the wide variety of explorers, project developers, service providers and government representatives under the one roof. The event is run in conjunction with the Australian Journal of Mining (AJM). For more information about the event, please visit the conference website: http://www.informa.com.au/galileebasin2013TRANSCRIPT
THE HYDE PARK COAL PROJECT 25TH NOVEMBER 2013
2
HYDE PARK COAL PROJECT (HPCP)
• 1.7Bt JORC Inferred resource in the Betts Creek beds
• Resource upgrade drilling complete
• Raw Strip Ratio 1 : 3 / 1 : 20
• Cumulative coal to 38.70m
• Raw energy 3500 - 6300 Kcal/Kg (adb)
• Ash 8.5% - 50% (adb)
• Closest Galilee coal project to Abbot Point Coal Terminal
• Prefeasibility Study due June 2014
LOCATION
3
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HYDE PARK COAL PROJECT North-Central Galilee Basin (EPC 1754 & 2050)
TARGET GENERATION
5
6
TARGET GENERATION Why was EPC1754 & EPC2050 pegged?
• Outcropping Warang Sandstone. • Historical seismic lines identified
synclinal structure supporting multiple sub-crops.
• Accommodation structures around changes in strike
• View Hill and Mirtna coal quality indicates a potential export thermal coal
QUEENSLAND GOVERNMENT • MIRTNA DRILLING PROGRAM 19.10m workable coal sec?on • VIEW HILL DRILLING PROGRAM 30.70m workable coal sec?on
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TARGET GENERATION Why was EPC1754 & EPC2050 pegged?
• Historical seismic lines identified potential coal endowment within project area.
• Total magnetic intensity map identifies local anomaly.
• Potential increased local coal rank due to elevated temperatures caused from an underlying granitoid ?
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TARGET GENERATION Why was EPC1754 & EPC2050 pegged?
Cross sec8on through the View Hill drilling program. Coal sub -‐crops between NS 26 & NS 29 Fold structures identified from seismic data, supported
by geology mapping indicates Bully Creek and Row Creek could yield multiple sub-crops of target seams.
EPC 1754 BULLY CREEK
EPC 2050 ROW CREEK
EPC 1754 BULLY CREEK EPC 2050 ROW CREEK
COAL PACKET
COAL PACKET
NORTHERN PROJECT END LOOKING SOUTH
SOUTHERN PROJECT END LOOKING NORTH
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EPC2050 Row Creek
EPC1754 Bully Creek
SEISMIC LINE R-‐60 Seismic, topographic, drill holes and water bores suggest mul?ple sub-‐crop zones.
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TARGET GENERATION Why was EPC1754 & EPC2050 pegged?
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TARGET GENERATION Why was EPC1754 & EPC2050 pegged?
0
10
20
30
Pentland Mirtna View Hill
Central Galilee Southern
Galilee
Average D1/D2 Seam Ash and Energy (adb)
% Ash
Energy Mj/kg
0
10
20
30
40
Pentland Mirtna View Hill
Central Galilee Southern
Galilee
Average D - F Seams Ash and Energy (adb)
Ash
Energy Mj/kg
EXPLORATION RESULTS
11
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COMPLETED EXPLORATION
Planned In Progress Complete Greenfields Drilling
Explora7on Target
Washability / Yield Analysis
Inferred JORC Resource
Ini7al Geotechnical Inves7ga7on
Ini7al Gas Content Inves7ga7on
Infill HQ Program (1km space) IAS Submission
Pre-‐Feasibility Study Measured Drilling Program
12
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COAL ENDOWMENT Sub-Cropping Full Coal Sequence (A – F Seam) in HPCP
• Up to 38.70m cumulative coal (A – F Seams)
• Up to 11.88m thick target coal seam (C/D Seam)
• Average base of weathering 63.68m across tenement, 58m in targeted initial development area
Chip Samples from ROW008
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LATERAL CONTINUITY >18km North to South
• >18km north – south strike of coal through project area.
• Excellent seam continuity within project area.
10.25m C/D seam at 96m in ROW001.
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LATERAL CONTINUITY >4.82km West to East
9.25m C/D seam at 62.50m in BUL012.
• >4.82km west – east dip of coal through project area.
• Excellent seam continuity within project area.
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LATERAL CONTINUITY C/D Target Seam A.R.D
BUL037 ROW038 ROW083
• A.R.D highlights excellent continuity
• Consistent clean roof & floor contacts
ROW039
C / D Seam = 9.25m C / D Seam = 11.88m C / D Seam = 11.25m C / D Seam = 10.25m
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COAL QUALITY
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MACERAL ANALYSIS Galilee Basin Rank Comparison
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COAL QUALITY Proximate Analysis
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RAW COAL QUALITY
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Seam group
Relative Density
Ash % (adb)
Inherent Moisture %
(adb) Volatile Matter
% (adb) Fixed Carbon
% (adb)
Total Sulphur %
(adb)
CV (Kcal/kg)
(adb)
AU 1.50 17.60 7.4 25.1 49.8 0.3 5813
A 1.79 45.71 6.4 19.9 27.0 0.3 3369
B 1.69 41.81 5.5 22.0 30.7 0.4 3898
C 1.56 26.69 7.1 25.1 41.1 0.3 4999
D 1.53 21.39 7.4 25.4 45.3 0.4 5348
E 1.62 29.48 7.1 22.4 41.0 0.3 4719
F 1.60 28.69 6.7 23.2 41.4 0.3 4772
• All stone bands < 30cm included • Low Sulphur throughout • Strong ash and CV correlations imply a straightforward wash process to
achieve an export thermal coal product • Numerous seams analysed reporting <15% ash, with the probability of
CHPP bypass • Initial mine product characterisation requires targeted drill program
RESOURCES
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INFERRED RESOURCE 1.7 Billion Tonnes
• 1.7Bt Inferred Resource (JORC 2012)
• Washability cores completed and analysed on all seams
• Waiting further coal quality information from 11 HQ core holes, potentially reporting to a JORC Indicated resource
• A washed product at 15% ash reports energies @ 6017Kcal/kg (adb), or 20% @ 5625 Kcal/kg (adb)
• Exploration Target 50 – 150Mt in south, 0 – 1Bt in north
Hyde Park Coal Project
Seam group Raw Mt
Preliminary Yield @15%
Ash Product Mt
AU 103 95 98
A 177 43 76
B 103 46 47
C 381 77 293
D 674 88 593
E 245 71 174
F 47 73 34
STRIP RATIOS
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RAW STRIP RATIO
24
Cumulative to F, E or D1 seam raw strip ratio A & B Mylec currently finalising yield curves to generate robust product strip ratios Current early stage yield analysis indicates a significant fraction of bypass coal at 15% ash, with a high fraction bypass at 20% ash Seams dip gently (0.5º-2.0º) to the west
ROW083
INFRASTRUCTURE
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26
INFRASTRUCTURE Closest Northern Galilee Basin Coal to Abbot Point
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PROPOSED REGIONAL INFRASTRUCTURE
• HPCP <150km of majority of proposed Galilee rail infrastructure
• North Galilee Rail Project (Adani) is located 35km south of HPCP
• GVK/Aurizon rail option 140km to the south
• Talks with third parties regarding shared infrastructure are in progress
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PROPOSED MINE INFRASTRUCTURE
MINE DESIGN
29
MINE PLAN
30
/D
MINE PLAN
31
Period Progress Plot
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
1 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
2 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 Period Plot (yrs) -‐1 -‐1 -‐1 -‐1 -‐1
3 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 > 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
4 -‐1 -‐1 -‐1 -‐1 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 < 2 1 -‐1 -‐1 -‐1 -‐1 -‐1
5 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 2 < 5 3.5 -‐1 -‐1 -‐1 -‐1 -‐1
6 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 5 < 10 7.5 -‐1 -‐1 -‐1 -‐1 -‐1
7 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 10 < 15 13 -‐1 -‐1 -‐1 -‐1 -‐1
8 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 15 < 20 18 -‐1 -‐1 -‐1 -‐1 -‐1
9 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 20 < 25 23 -‐1 -‐1 -‐1 -‐1 -‐1
10 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 > 25 26 -‐1 -‐1 -‐1 -‐1 -‐1
11 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
12 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
13 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
14 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
15 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
16 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
17 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
18 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
19 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
20 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
21 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
22 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
23 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
24 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
25 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
26 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
27 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1
28 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 49 0 0 0 0 0 0 0 0 -‐1 -‐1 -‐1
29 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 56 36 0 0 0 0 0 0 0 0 -‐1 -‐1
30 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 55 36 19 0 0 0 0 0 0 0 -‐1 -‐1
31 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 41 27 14 0 0 0 0 0 0 0 -‐1 -‐1
32 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 41 27 13 0 0 0 0 0 0 0 0 -‐1
33 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 41 26 12 0 0 0 0 0 0 0 -‐1 -‐1
34 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 0 41 26 0 0 0 0 0 0 0 0 -‐1 -‐1
35 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 33 26 0 0 0 0 0 0 0 0 0 -‐1
36 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 33 26 0 0 0 0 0 0 0 0 0 -‐1
37 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 0 40 21 0 0 0 0 0 0 0 0 0 -‐1
38 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 39 25 15 5 0 0 0 0 0 0 0 0 -‐1
39 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 45 25 12 5.6 0 0 0 0 0 0 0 0 -‐1
40 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 51 33 19 7 0 0 0 0 0 0 0 -‐1 -‐1
41 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 50 32 18 6.1 0 0 0 0 0 0 0 -‐1 -‐1
42 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 50 32 17 6.4 0 0 0 0 0 0 -‐1 -‐1 -‐1
43 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 49 31 17 6 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
44 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 56 37 20 8 1.4 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
45 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 57 38 21 8.6 2.1 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
46 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 58 38 21 9 3 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
47 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 59 39 22 9.6 3.5 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
48 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 30 40 22 10 4 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
49 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 40 23 11 4.4 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
50 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 41 24 11 5 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
51 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 0 0 0 42 24 10 4.4 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1
52 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 42 25 12 4.9 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
53 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 43 25 11 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
54 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 44 26 13 0 0 0 0 0 -‐1 -‐1 -‐1 -‐1 -‐1
55 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 44 27 14 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
56 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 45 27 14 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
57 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 45 28 13 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
58 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 46 28 15 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
59 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 47 29 15 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
60 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 47 30 16 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
61 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 48 30 14 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
62 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 0 48 31 14 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1 -‐1
Strip
Block
MINE PERIOD PROGRESS PLOT
FINANCIALS
32
FINANCIALS
33
• Long Term Price US $84.00 (Newcastle Bench 6000Kcal)
• FX Rate $0.8500 (AUD : USD)
• Discounted Revenue on Newcastle Bench between 69% and 82.4%
FINANCIALS
34
FINANCIALS
35
DEVELOPMENT SCHEDULE
36
DEVELOPMENT SCHEDULE
37
ACKNOWLEDGEMENTS
38
Resolve would like to thank the owners of Hyde Park Station, Brian and Lorraine Corbett, for their welcome, advice, and all the assistance that they have offered over the last year, including, but by no means limited to, rescuing me after a night spent on the side of the road after a flat tyre or two. Resolve would also like to thank the traditional owners, the Wangan and Jagalingou People, for their expertise and prompt attention during the cultural clearing work at the start of the exploration program.
ACKNOWLEDGEMENTS
39
8. CONTACTS
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Office Address Resolve Coal Pty Ltd Level 8, 46 Edward St Brisbane, QLD 4000
Tel: +61 7 3232 3400 Fax: +61 7 3232 3499 ABN 83151212083 [email protected]
The estimated in situ coal reported within this statement represents an “Inferred Resource” according to the JORC 2012 Code (Clause 18). *: Competent person statement The information in this report that relates to JORC compliant resources is based on information compiled by Neil Biggs, who is a Member of the Australasian Institute of Mining and Metallurgy. Neil Biggs is a full-time employee of Resolve Coal Pty. Ltd. Neil Biggs has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Neil Biggs consents to the inclusion in the report of the matters based on his information in the form and context in which they appear.