Proactiveinvestors Australia

ZYL Limited www.zyllimited.com.au

ZYL Limited (ASX: ZYL) is focused on developing anthracite coal projects in South Africa, and has the potential to transition to producer in 2013.

 

The company has already received non-binding expressions of interest for 1.7Mt of its Kangwane product - which is targeted at the export market.

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ZYL Limited: an emerging coal producer; in pre open pending interim BFS update for Mbila

ZYL Limited (ASX: ZYL) has been granted a trading halt by the ASX pending some very interesting news in the form of an interim BFS update for the Mbila Project in South Africa, with the company's shares placed in pre-open.

ZYL Limited have not yet commented any further, but as recently as last Friday the company highlighted how active they were at the project and said a phase one infill drilling campaign at Mbila was scheduled to commence this month.

Drilling is aimed at identifying additional resources lying between Mbila S Block and the adjacent Msebe exploration permit area.

This program will comprise ten diamond holes for around 2000 metres, which should only take until the end of March to complete.

Mbila project defining factors

- site to Coal Link rail, 70 kilometres;
- siding to Richards Bay Coal Terminal, 105 kilometres;
- mine gate sales potential reduces rail dependence;
- can truck product to Richards Bay or Durban Bulk Handling Terminals;
- capacity available at either Bulk Handling Terminal (if required).

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 7 March.

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