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Attila Resources to acquire hard coking coal mine in Alabama

Attila Resources to acquire hard coking coal mine in Alabama

Attila Resources (ASX: AYA) is set to expand its interests overseas, acquiring a 70% interest in a hard coking coal mining operation in Alabama.

The company has entered a binding heads of agreement to secure the mining rights to two coal seams which are found throughout the Kodiak Coal Project, owned by Kodiak Mining Company.

Kodiak has an exploration target of between 80 and 100 million tonnes of hard coking coal, based on 118 historical coal bed methane wells and diamond core holes.

Coal found at Kodiak is of good quality, with low ash and sulphur content and very high fixed carbon.

Once Attila exercises its option to the Kodiak project, drilling will commence with the aim of establishing a JORC Resource.

Importantly, the Kodiak project has access to full infrastructure already in place, including a wash plant and rail infrastructure. The project has full permits for operation and is licenced on private land.

Kodiak operated the Coke No. 1 Mine at the project up until 2008 when the project was placed on care and maintenance, due to underperformance by the mining contractors and ventilation issues.

The option to acquire Kodiak remains subject to technical, legal and environmental due diligence.

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Attila Resources Ltd Timeline

February 11 2016

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