Caledon Resources
Caledon Resources plc is a dual listed public Company listed on the Alternative Investment Market of The London Stock Exchange and The Australian Securities Exchange (trading symbol: "AIM:CDN & ASX: CCD"). Caledon is a coking coal producer and explorer in the Bowen Basin of Queensland, Australia. It acquired the mothballed Cook Mine in late 2006 and has since recommissioned the operation and introduced an innovative new underground mining methodology. The Company also purchased the nearby Minyango exploration concessions in 2006 and has conducted a number of drilling programs in preparation for a feasibility study.
Caledon Resources record June coal production at Cook
Caledon Resources (AIM: CDN) has made significant progress with ramp-up of the Magatar Linear Mining System and mined a record 55,000 tonnes of coal at its Cook mine in Queensland, Australia, in June. Production looks set to beat this record in July. Target production at Cook is 100,000 tonnes per month, and one shift in June achieved the rate of production needed to achieve this.
Caledon has been achieving the equivalent of US$300 per tonne of coal, subject to adjusted for coal quality.
The new drift into the Argo seam is essentially complete and the Joy wide head miner will start product preparation work in late July which will supplement the company’s overall coal production. The company expects production 600,000 - 700,000 tonnes of coal for the full year.
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