Atrum Coal boosts resources at flagship project

Company News

Atrum Coal NL (ASX:ATU) has boosted the JORC resources at its flagship Groundhog Anthracite Project in British Columbia in Canada. 
 
Technical Director, Dr Eric Lilford has described the size of the deposit as extraordinary and says the coal exhibits an exceptionally high rank. 
 
The metallurgical coal exploration and development company reports JORC resources increased by 460 per cent to a global coal resource of 1.57 billion tonnes across measured, indicated and inferred categories. 
 
Atrum says the upgraded results confirms Groundhog as one of the largest underdeveloped high grade anthracite deposits in the world. 
 
The company now plans to advance the current resource base and work to completing a conceptual economic assessment by the end of Q2 2013.  
 
Atrum Coal booked a net loss of $3.4 million in the first half of the 2013 financial year.