NHO - New Horizon Coal - Aussie Stock Forums

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  1. #1

    Post NHO - New Horizon Coal

    New Horizon Minerals has acquired from Drysdale Resources Pty Ltd a 20% interest in the Mount Drysdale Gold and Base Metal Project and the Hora Bore Base Metal Project, with farmin rights to earn an 80% interest in the Projects
    by expending $1,000,000 over three years.


  2. #2
    Make the drill work for YOU springhill's Avatar
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    Default Re: NHO - New Horizon Coal

    NHO is focused on becoming a producer of high quality thermal coal, with a target of becoming a mid-tier North American coal mining company

    FPO shares - 93m (66.9m quoted)
    Options - 73m (20c @ 31/12/2014)
    10m (50c @ 30/11/2016)
    Cash - $4.4m

    New Horizon Coal Ltd is pleased to announce the commencement of a new drilling program at the Company’s Kinney Project located in Utah, USA.
    The drilling program is intended to supplement existing coal quality data and will be incorporated into the Bankable Feasibility Study currently being undertaken by John T Boyd Company
    The Kinney Project has been extensively drilled, with its reserves characterized in a JORC Resource Report issued on 2 February 2012. The initial resource report demonstrated 26.1 million tonnes of high heat, low sulphur coal, of which 92% is measured or indicated.

    NHO will complete seven new drill holes in third quarter of CY 2012 to supplement the 129 holes of historical data currently available. A total of 1,880 metres of drilling is planned, using rotary air/foam methods, retrieving 246 metres of core conventionally. The program is intended to supplement existing coal quality database for the two seams of interest on the Project: the Hiawatha and UP seams. Results will be combined with existing historical data as part of the ongoing BFS. Phase I of the BFS is expected be released in the third quarter of CY 2012. Following analysis from these core holes as part of the BFS, NHO anticipates an upgrade to the initial JORC Resource tonnage completed earlier this year. It is anticipated that the drilling program, analysis and report will take between two and three months to complete.

    Federal Mineral Lease Application
    NHO has submitted a Lease‐by‐Application (LBA) to the US Bureau of Land Management (BLM) to acquire approximately 2,250 hectares of additional coal bearing land, which lies adjacent to the 2,100 hectares the company currently controls. An independent consultant has estimated a target mineralisation of 30‐35 million tonnes, which will more than double the Company’s current coal JORC resource. The BLM land contains the same seams (Hiawatha and UP) that are located on the Kinney Coal Project. It is expected that the LBA will be completed in calendar year 2013.

    Logistics – Rail
    NHO has been in discussions with two of the three major rail providers in the western US servicing the Utah coalfields. NHO has optimal logistics at the Kinney Coal Project: a spur line runs directly outside of the property; and a main line, serviced by three Class I rail carriers, is located only 29km from the proposed portal. A potential load out facility at this site would give the Company its choice of rail providers providing greater flexibility and more competitive pricing. NHO is aiming to finalise the rail logistics by the end of calendar year 2012.

    Logistics – Port
    The Company is in advanced discussions with several ports on the Pacific coast and Gulf of Mexico. NHO provides an attractive alternative for the ports because of its high quality coal, suitable as a standalone product for export or for blending with lower‐heat coals; it is therefore likely last type of coal to fall off the demand curve. NHO is looking to secure an initial port MOU by the time the Company releases its PFS.

    If they can prove the resource is feasible, they certainly have the transport methods to get the product straight out of there. A luxury not many companies have.
    This is worth keeping an eye on.
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    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  3. #3
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default Re: NHO - New Horizon Coal


    JT Boyd has confirmed the previous tonnage estimate prepared and issued by Behre Dolbear in a JORC Resource report earlier this year. In their assessment JT Boyd has incorporated additional drill hole information not previously utilized to define the Coal Resource. With their detailed geological modeling approach JT Boyd has expanded the resource coverage to include additional portions of the NHO controlled property and extended the minimum seam thickness criterion to 4 ft (1.2 m). This expansion of the resource coverage is expected to add additional tonnage to the overall Kinney resource. JT Boyd’s work is ongoing and will be incorporating the results of the drilling program now underway. Boyd will be reporting an updated JORC Resource tonnage and a mine reserve tonnage in third quarter CY 2012 when their Pre-Feasibility Study (PFS) will be completed.
    Highlights of the Kinney PFS:
    *The JORC Coal Resource report for property currently controlled by NHO will be revised and updated upon release of the PFS.
    *Coal quality information obtained during this year’s drilling program and not previously available for the JORC Resource report will be included in the updated resource estimate.
    *Additional historical drilling data that were not used in the maiden JORC Resource were evaluated by JT Boyd and included in the geological model.
    *Adjustments were made to the Resource model to include additional controlled coal property and expand the resource estimate to a minimum 4 ft (1.2 m) seam thickness cutoff.

    The pending Coal Resource Estimate will be completed in accordance with the criteria set forth in the JORC Code (2004). The underground mine plan to be developed as part of the PFS will determine the extent, tonnage, and quality of the JORC reportable reserves.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

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