Beacon Hill Resources Plc Maiden JORC Compliant Mining Reserve Reported at Minas Moatize Coal Mine

Beacon Hill Resources Plc Maiden JORC Compliant Mining Reserve Reported at Minas Moatize Coal Mine

Beacon Hill Resources Plc, the Mozambican coal producer, is pleased to report a maiden JORC compliant Coal Reserve Statement for its Minas Moatize Coal Project in the globally significant coking coal region of Tete in Northern Mozambique.

Highlights

  • Total Mineable Reserve of 42.65 million tonnes ('Mt') with potential upside of a further 7.9Mt.  The Mineable Reserve represents the in situ portion of the Geological Resource that is economically mineable
  • Total Mineable Reserve includes a Marketable Reserve of 23.45Mt, representing the saleable portion after mining and processing of the resource, of which at least 8.72Mt is coking coal
  • Confirmation that Minas Moatize has a mine life of up to 14 years
  • Completion of Mine Plan, which forms a part of the Definitive Feasibility Study ('DFS') has been finalised and supports the reporting of Coal Reserves in accordance with the JORC Code
  • The DFS, due for release later this quarter, continues to be based on a 4 million tonne per annum ('Mtpa') run of mine operation producing in excess of 2Mtpa of saleable hard coking and thermal coal for the life of mine

Justin Lewis, Chairman of Beacon Hill commented: "The commercial value of the Minas Moatize Project is increasingly being confirmed.  We have a Marketable Reserve of 23.45Mt of coal, of which over one third is coking coal, a proven end to end export solution as highlighted by the commencement of shipping in December 2011, near term coking coal production and the full results of the DFS due to be released later this quarter.  With this in mind, we look forward to reporting our progress to our shareholders and the wider market during this highly active time for the Group."

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