Coalspur Mines Limited
(ASX:CPL) has announced its existing Vista South coal resources have substantially increased.
Following a recent drilling program, the coal explorer says it has increased its measured and indicated coal resources by 404 per cent to 470.5 million tonnes (“Mt”) and upgraded the inferred coal resource from 75Mt to 605 Mt.
Coalspur’s managing director says the “resource increase confirms that Vista South has the potential to become a future mining operation.”
In the first half of the 2012 financial year, Coalspur reported a net loss of $13.3 million.
