Review of Operations
Australian Pacific Coal is a coal focused exploration group with strategic tenement holdings located in Queensland’s principal coal basins close to established infrastructure.
During the course of 2013 the Group further advanced its exploration program. Additional drilling was completed on its EPC1827 “Cooroorah” project area, finalising the requirements for the grant of the project’s Mining Development Licence. The Group has a number of prospective tenement areas within its holdings in the Blackwater region. The four main exploration projects identified are Dingo, Carlo Creek, Churchyard Creek and Mt Stuart. Activities being undertaken are focused on drilling these target areas and improving the resource status of tenements. Further drilling will be undertaken as funds become available.
The Group has an Exploration, Option and Joint Venture Agreement with Rio Tinto Exploration Pty Ltd covering four of the Group’s Mt Hillalong tenements. Rio Tinto Exploration Pty Ltd commenced drilling of the joint venture tenement in August 2013. The agreement has the potential to provide substantial additional funding to the Group over the next two years.
The Group also holds a 10% free carried interest through to feasibility stage in four tenements that it transferred to Blackwood Resources Pty Ltd. Blackwood is a subsidiary of Cuesta Coal Limited. Cuesta has secured funding to complete its exploration program and is actively drilling the joint venture exploration tenements.
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