•Resource –1.56 billion tonnes
•Mineability –suited to longwall mining,
•Saleability –high quality thermal coal,
•Minimum impact on the surface
•Rail –capacity on proposed Surat Basin Rail
•Port –MetroCoal has priority capacity allocation at proposed 3TL coal terminal Bundi: Longwall Mining •Shallow Depth 100m –250m
•Continuous mining seam
•Mining height 2.7m to 3.6m
•Higher yield than opencast miners in the Surat Basin
•$23.45 per tonne at the pit head Bundi – Attractive Coal Quality
• Specific Energy GAR +6000 kcal/kg
• Low ash, low sulphur, low phosphorous.
• Washability data for mining section shows
• High yield – 75% to 85%
• Clear cut point 1.55 – no near gravity material
SinoCoal –MetroCoal Columboola Joint Venture
•Joint Venture with SinoCoal Resources on EPC 1165 Columboola (SC 51% -MTE 49%).
•Sino Coal investing $30M
•Targeting down dip extensions of Cameby Downs mine.
•Inferred resource of 1,297Mt. Substantial increases expected.
•Mining target area identified.
•Progressing to next stage –EIS, concept studies etc.
I just posted about MMI in The bottom is in! thread but seeing as the MMI thread hasn't been updated in almost seven years (other than a change of name update) I thought I should probably post in here too.
Metro Mining owns and operates the Bauxite Hills bauxite mine in Cape York, Queensland.
They have been mining for around 12 months and production has been ramping up with 2019 production expected to be ~3.5 million wet metric tonnes. From 2021 production is expected to level out at ~6 million wet metric tonnes. Mine life is estimated at 17 years.
Ramp-up margins have been solid despite weather disruptions and lower AUD/higher bunker fuel prices that have increased freight costs. Significant cost reductions have been identified and are expected to be realised in 2019 and beyond.
The MMI share price has halved in the last 12 months but a solid base looks to have formed at 13c. Volume has been increasing each day for the last three days and today has seen the share price tick up from 13.5c to 15c.
So is the bottom in? Hard to say for sure, but the worst does seem to be over and with production ramping up and the bauxite price currently at US$51 DMT (up from US$45 12 months ago), things are certainly looking a bit brighter for MMI.