Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

New Horizon Coal prefeasibility study highlights attractiveness of Utah coal project  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 29/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - ProactiveInvestors - Australia) New Horizon Coal (ASX:NHO) has concluded a positive prefeasibility study at its Kinney coal project in Utah, which confirms the project's technical and economic viability to produce a high calorific, low sulfphur coal.

The study was done by John T. Boyd Company and it defined a JORC compliant 16-year life of mine for the Kinney Coal project at a run of mine annual production level of 2.3 million tonnes per annum.

The project has low capital development costs with an initial outlay of US63 million and rapid development timeline as well as attractive cash operating costs of US32 per tonnefor the initial life of mine reserve base.

A further capital investment of 53 million will be required to take the project to its full production of 2.3 million tonnes.

Together with strong estimated cash flows of 45.9 million per annum once production starts, this makes for attractive terms for payback.

The project could also benefit from its ready access to infrastructure and underutilized rail network.

The company will continue to build on this study with a bankable feasibility study likely to commence in calendar year 2013.

The company also plans a rapid production development schedule with full production likely within 3 years of initial drift access and Hiawatha seam development.

Its plans to get into production are also likely to be aided by its planned letter of intent with a new, permitted port facility to secure a multi year export allocation.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help