Fortbridge Media ReleaseEndocoal Limited [ASX: EOC ] - METEOR DOWNS SOUTH OPEN CUT PROJECT EVALUATION COMPLETED1. Highlights
-Endocoal has completed the Meteor Downs South Open Cut Project Evaluation;
-Direct-ship thermal coal product for consumption by Asian customers;
-Mining cost of $29.17/t for run-of-mine (ROM) coal delivered to the ROM-sizer;
-The study has identified, for the Free-on-Truck despatch (FOT) option:
*Production of 1.5-1.9Mtpa
*Mine life of 9-10 years;
*CAPEX of A$42.0M; and
*OPEX of A$37.11/t.
-Open cut optimised to deliver a high productivity outcome > 20,000t/employee/year
-Next steps to finalise off-take / joint venture arrangements and transport logistics.
2. Background
Endocoal Limited (ASX:EOC) (Endocoal) is pleased to announce the completion of the Meteor Downs South Project Evaluation (MDS Project Evaluation). The MDS Project Evaluation was completed on schedule by end-Q1 2012.