Proactiveinvestors Australia Leigh Creek Energy Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Leigh Creek Energy Ltd RSS feed en Wed, 19 Jun 2019 07:25:57 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Leigh Creek Energy resource is South Australia's largest gas reserve for commercial use ]]> https://www.proactiveinvestors.com.au/companies/news/217288/leigh-creek-energy-resource-is-south-australia-s-largest-gas-reserve-for-commercial-use-217288.html Leigh Creek Energy Ltd (ASX:LCK) has received reserve certification for its syngas resource, which effectively unlocks South Australia’s largest gas reserve for commercial use.

The company received a Petroleum Resources Management System (PRMS) certificate of 1,153PJ (petajoule) 2P syngas reserves, making Leigh Creek’s commercial deposit in the state's north larger than reserves within the Cooper Basin.

It is the east coast's third largest gas reserve for commercial use outside the Bowen/Surat and Gippsland basins.

Commercial phase and scope for more gas upgrades

Leigh Creek’s managing director Phil Staveley said the company’s gas reserve was large enough to support operating 20 or more chambers in commercial applications for more than 20 years.

“LCK has achieved all its milestones, many of which the market doubted.

“We now have gas at Leigh Creek that has been independently certified as suitable for a commercial project, and represents one of the east coast of Australia’s largest, undeveloped, uncontracted and undervalued gas reserves.”

 

This 2P reserve of 1,153PJ is entirely within one of the three coal seams within the Telford Basin, meaning there is additional opportunity for reserve and resource upgrades in the future from other seams.

The size of the reserve and scope for more certifications at the former Leigh Creek coal mine site means LCK has capacity to enter both the pipeline gas and fertiliser production markets.

LCK's successful Pre-Commercial Demonstration (PCD) used In-Situ Gasification (ISG) technology to produce all its targeted commercial gases and flow rates from the former coal mine site.

Flows came from a single chamber and were achieved safely and in accordance with the state government’s strict environmental and regulatory guidelines.

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Wed, 27 Mar 2019 15:49:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217288/leigh-creek-energy-resource-is-south-australia-s-largest-gas-reserve-for-commercial-use-217288.html
<![CDATA[News - Leigh Creek Energy upgrades Leigh Creek to gas reserve status in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/214842/leigh-creek-energy-upgrades-leigh-creek-to-gas-reserve-status-in-south-australia-214842.html Leigh Creek Energy Ltd (ASX:LCK) has extracted commercial quantities of synthetic gas at its former Leigh Creek coal mine site for the first time, unlocking a considerable reserve.

The reserve status will enable the company to access South Australia’s largest gas resource for commercial development outside the Cooper Basin.

Objectives completed for pre-commercial demonstration facility

Leigh Creek Energy director Phil Staveley said: “We have now achieved all our stated objectives for the PCD, which are significant milestones that unlock a large energy resource and captures key data that proves this disruptive technology will be successful in commercial application.

“This data will enable the company to quickly move toward upgrading a portion of its current resource to bankable reserves, a key step that is required for the company to progress to commercial operations.”

PCD design parameters

Leigh Creek achieved and in some cases exceeded the design parameters and objectives for the pre-commercial demonstration, which are as follows: 

Produce syngas comprising carbon monoxide, methane, nitrogen and hydrogen;

Capture information required to upgrade the existing resource to bankable reserves;

Produce syngas at over 1 million cubic feet per day;

Demonstrate that LCK can operate the ISG gasifier safely and in an environmentally responsible manner; and

Provide key data and information for the development of the commercial project.

- Jessica Cummins

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Tue, 19 Feb 2019 01:01:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214842/leigh-creek-energy-upgrades-leigh-creek-to-gas-reserve-status-in-south-australia-214842.html
<![CDATA[News - Leigh Creek Energy signs a deal to monetise its pre-commercial demonstration plant ]]> https://www.proactiveinvestors.com.au/companies/news/212659/leigh-creek-energy-signs-a-deal-to-monetise-its-pre-commercial-demonstration-plant-212659.html Wed, 16 Jan 2019 17:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212659/leigh-creek-energy-signs-a-deal-to-monetise-its-pre-commercial-demonstration-plant-212659.html <![CDATA[News - Leigh Creek Energy produces commercial quality syngas at South Australian plant ]]> https://www.proactiveinvestors.com.au/companies/news/212102/leigh-creek-energy-produces-commercial-quality-syngas-at-south-australian-plant-212102.html Leigh Creek Energy Limited (ASX:LCK) has achieved 13 days continuous production of commercial quality syngas from a pre-commercial demonstration plant (PCD) in South Australia.

Another PCD milestone is 89 days of continuous syngas production.

Data and production results indicate the Leigh Creek Energy Project (LCEP) has reached stable production within the gasification phase whilst operating at low flow rates.

READ: Leigh Creek Energy moves closer to commercial syngas production in South Australia

As of December 29, 2018, the PCD was producing all gases required to make ammonia and urea, while results from this week show the same gases are still being generated.

The results show syngas is now producing up to 20% methane.

Successful production of syngas demonstrates that LCK can produce nitrogen, carbon dioxide, carbon monoxide and hydrogen.

Pathway to commercialisation

LCK managing director Phil Staveley said: “After careful and expert management of the gasifier, the production of gases needed for ammonia and urea is now occurring.

“The process of achieving commercial quality of syngas production is a statement to the industry and our stakeholders that the technical risks of operating in-situ gasifiers at the Leigh Creek site have been drastically lowered.

“Once we achieve commercial rates of gas flow and associated data we will look forward to providing further detail on the pathway to commercialisation.”

  READ: Leigh Creek Energy proves no environmental impacts at syngas demonstration facility in SA

LCK is working on increasing flow rates to inform the technical feasibility of In Situ Gasification (ISG).

The LCEP will produce high value ammonium nitrate products, including fertiliser and industrial explosives, from remnant coal resources at Leigh Creek, utilising ISG technologies.

Rights issue to raise $3.86 million

LCK is also conducting a non-renounceable rights issue to existing shareholders to raise about $3.86 million with proceeds to be used for project development and general working capital.

The offer is on the basis of one new share for every 15 shares held at the record date.

At 12 cents per share, the offer represents a 15.85% discount to the 5-trading day volume weighted average closing price of shares as at December 14.

- Jessica Cummins

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Mon, 07 Jan 2019 22:07:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212102/leigh-creek-energy-produces-commercial-quality-syngas-at-south-australian-plant-212102.html
<![CDATA[News - Leigh Creek Energy proves no environmental impacts at syngas demonstration facility in SA ]]> https://www.proactiveinvestors.com.au/companies/news/211021/leigh-creek-energy-proves-no-environmental-impacts-at-syngas-demonstration-facility-in-sa-211021.html Leigh Creek Energy Ltd (ASX:LCK) has provided data showing no environmental impacts at its pre-commercial in-situ gasification (ISG) demonstration facility in South Australia.

Environmental monitoring data from the ISG operation at the former Leigh Creek coal field confirmed the pre-commercial demonstration (PCD) was operating as expected, in line with scientific modelling.

The evidence supports the regulator and Leigh Creek’s claim that the process can be undertaken in a safe, regulated and controlled manner and that Leigh Creek is ideally suited to the ISG process.

READ: Leigh Creek Energy to develop large-scale infrastructure projects with Chinese multinational in SA

Leigh Creek managing director Phil Stavely said the results vindicated the decision to voluntarily operate a PCD to prove the technology’s worth as an environmentally sustainable and safe supplier of commercial quantities of syngas.

Stavely said: “We never doubted the environmental credentials of this project.

“We’ve been looking forward to our home-grown team of experts providing the cold hard fats and data, proving this technology can be performed in a safe way.

“These results finally give us an opportunity to do that.”

Results align with expectations

The results align with expected monitoring observations of:

No change in pressure in the green zone (greater than 100 metres radius);

Minor decrease in pressure and no change in temperature in the amber zone (less than 100 metres radius); and

No change in temperature and decreased pressure after ignition in the red zone (less than 15 metres surrounding the gasifier), with inward flow towards the gasifier contained.

The data indicates there are no gas leakages or water contamination and all contents of the demonstration’s gasifier are completely contained.

Pressure and temperature monitoring data has been published on the South Australian Department of Energy and Mines website as required under Leigh Creek’s regulatory obligations.

READ: Leigh Creek Energy moves closer to commercial syngas production in South Australia

Leigh Creek is making significant progress at the pre-commercial in-situ gasification demonstration facility at its Leigh Creek Energy Project, with gas flows continuing for 53 days.

LCK is aiming to produce high-value products such as electricity, methane and fertilisers from the remnant coal resources at Leigh Creek, utilising ISG technologies.

LCK’s recent progress is bringing the company closer to commencing the process to upgrade a portion of its 2,964 2C resource to proven and probable reserve status.

The company’s major objective is to achieve commercial syngas flow and commencement of the resource upgrade process in Q4 2018.

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Wed, 12 Dec 2018 00:57:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211021/leigh-creek-energy-proves-no-environmental-impacts-at-syngas-demonstration-facility-in-sa-211021.html
<![CDATA[News - Leigh Creek Energy to develop large-scale infrastructure projects with Chinese multinational in SA ]]> https://www.proactiveinvestors.com.au/companies/news/210750/leigh-creek-energy-to-develop-large-scale-infrastructure-projects-with-chinese-multinational-in-sa-210750.html Leigh Creek Energy Ltd (ASX:LCK) has developed a deal with China Communications Construction Company Ltd (CCCC) to invest in large-scale infrastructure projects beyond in-situ gasification in South Australia.

CCCC committed to providing Leigh Creek with a draft heads of agreement (HoA) allowing the companies to cooperatively develop projects such as ports and railway.

The scope of collaboration between the two parties includes: project consultation; investment in Leigh Creek and its project financing; and construction and operation.

READ: Leigh Creek Energy moves closer to commercial syngas production in South Australia

Leigh Creek executive chairman Justyn Peters said having CCCC on board was not only good news for Leigh Creek, but a huge opportunity for South Australia.

Peters said: “To have such an internationally renowned company in Adelaide is a great opportunity for LCK and the state to showcase the project.

“Active steps have been undertaken since our last announcement to bring this HoA and cooperation agreement with CCCC to fruition.

“It shows how significant world players are as excited as we are in developing this project.”

Planning project cooperation

The two parties will also sign a project cooperation agreement to establish the best model to go forward on the Leigh Creek Energy Project, with specific details to be included in a special vehicle project agreement.

CCCC is the world’s largest port design and construction company, independently designing and constructing seven of the world’s ten largest ports.

It is also the world’s largest offshore oil drilling platform design company.

The 63.8% Chinese state-owned enterprise has revenue of more than US$70 billion and more than 118,000 employees.

Other shareholders include multiple affiliates, or funds managed by, Merrill Lynch, BlackRock and JPMorgan Chase.

Gasification technologies

Leigh Creek is making significant progress at the pre-commercial in-situ gasification demonstration facility at its Leigh Creek Energy Project in South Australia, with gas flows continuing for 53 days.

LCK is aiming to produce high-value products such as electricity, methane and fertilisers from the remnant coal resources at Leigh Creek, utilising in situ gasification (ISG) technologies.

LCK’s recent progress is bringing the company closer to commencing the process to upgrade a portion of its 2,964 2C resource to proven and probable reserve status.

The company’s major objective is to achieve commercial syngas flow and commencement of the resource upgrade process in Q4 2018.

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Fri, 07 Dec 2018 02:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210750/leigh-creek-energy-to-develop-large-scale-infrastructure-projects-with-chinese-multinational-in-sa-210750.html
<![CDATA[News - Leigh Creek Energy moves closer to commercial syngas production in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/210444/leigh-creek-energy-moves-closer-to-commercial-syngas-production-in-south-australia-210444.html Leigh Creek Energy Ltd (ASX:LCK) is making significant progress at the pre-commercial demonstration (PCD) facility at its Leigh Creek Energy Project in South Australia, with gas flows continuing for 53 days.

LCK is aiming to produce high-value products such as electricity, methane and fertilisers from the remnant coal resources at Leigh Creek, utilising in situ gasification (ISG) technologies.

Development of a typical ISG chamber: The Leigh Creek facility is currently in the pyrolysis stage

As the temperature and consequent size and configuration of the gasification chamber increase, conditions develop exponentially for stable gasification processes to be maintained, typically at temperatures above 1,000 degrees Celsius.

The principal chemical reactions during this phase relate to the interaction of very hot gases interacting with the coal to form syngas (synthetic gas).

This is the commercial gas production phase which the company is continuing to work towards.

Gas flows have been continuing for 53 days

LCK managing director Phil Staveley said : “The PCD is developing as expected, both technically and operationally.

“LCK’s on-site operations team and Adelaide based technical experts continue to manage the development of the PCD gasification chamber toward commercial flow rates, by managing the gasifier’s operating parameters, such as pressure, water inflow and outflow rates.

“This process is continuing and importantly has not stopped since the gasifier was initiated on 10 October 2018.

“Through this we continue to work closely with the regulator to ensure appropriate oversight.”

LCK’s recent progress is bringing the company closer to commencing the process to upgrade a portion of its 2,964 2C resource to proven and probable reserve status.

The company’s major objective is to achieve commercial syngas flow and commencement of the resource upgrade process in Q4 2018.

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Tue, 04 Dec 2018 17:23:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210444/leigh-creek-energy-moves-closer-to-commercial-syngas-production-in-south-australia-210444.html
<![CDATA[News - Leigh Creek Energy bags $21.85M for syngas energy project ]]> https://www.proactiveinvestors.com.au/companies/news/175646/leigh-creek-energy-bags-2185m-for-syngas-energy-project-175646.html Leigh Creek Energy (ASX:LCK) is well positioned to develop its Leigh Creek Energy Project (LCEP) in South Australia, after getting commitments to raise $21.85 million.

Hong Kong based China New Energy will acquire 136.3 million Leigh Creek shares in three tranches at $0.147 per share, raising $20 million.

Leigh Creek has placed a further 13.7 million shares at $0.135 each with sophisticated and professional investors to raise $1.85 million.

The LCEP will produce syngas, electricity and fertiliser from the remnant coal resources at Leigh Creek mine site, utilising In Situ Gasification (ISG) technology.

Syngas, or synthesis gas, is a fuel gas mixture consisting of hydrogen, carbon monoxide, and methane.

The investment by China New Energy underpins the financial viability of the project, representing a significant positive step in the development of the Leigh Creek Energy Project.

Importantly, post capital raising, Leigh Creek will be fully funded through to completion of its pre-commercial ISG demonstration facility, scheduled for Q4 2017.

Leigh Creek’s primary focus is to provide reliable electricity supply to major energy consumers in South Australia and the metropolitan demand centre in Adelaide.

The company had completed a successful scoping study in January 2017, based on the inferred JORC resource of 2,964 petajoules (PJ) of syngas at LCEP.

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Thu, 30 Mar 2017 13:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175646/leigh-creek-energy-bags-2185m-for-syngas-energy-project-175646.html
<![CDATA[News - Leigh Creek Energy gets ready to raise ]]> https://www.proactiveinvestors.com.au/companies/news/175247/leigh-creek-energy-gets-ready-to-raise-175247.html Leigh Creek Energy (ASX:LCK) has been granted a trading halt by the ASX, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 27th March 2017, or earlier if an announcement is made to the market.

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Thu, 23 Mar 2017 07:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/175247/leigh-creek-energy-gets-ready-to-raise-175247.html
<![CDATA[News - Leigh Creek Energy secures $4M facility to advance syngas project ]]> https://www.proactiveinvestors.com.au/companies/news/172899/leigh-creek-energy-secures-4m-facility-to-advance-syngas-project-172899.html Leigh Creek Energy (ASX:LCK) has established a $4 million research and development working capital facility with the Commonwealth Bank of Australia (ASX:CBA).

The company will utilise its eligibility to claim tax offsets for expenditure of circa $21 million to be incurred on the pre-commercial demonstration stage of the Leigh Creek Energy Project (LCEP).

The 12-month facility with the CBA effectively allows Leigh Creek to bring forward access to refundable tax offsets by providing a progressive drawdown of eligible project expenditure of up to $4 million.

The LCEP is located in South Australia and has a resource of 2,964 petajoules (PJ) of syngas.

Syngas, or synthesis gas, is a fuel gas mixture consisting primarily of hydrogen, carbon monoxide, and very often some carbon dioxide.

Last month, Leigh Creek completed a successful scoping study for the LCEP and has now commenced a pre-feasibility study.

The company has concluded that the cases for both syngas fired electricity generation and natural gas are sufficiently robust to support advancing LCEP to the next stage.

The new facility provides Leigh Creek with funds to expedite progress on the pre-commercial demonstration stage activities at LCEP.

The company had a cash balance of about $3 million as at 31 December 2016.

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Mon, 13 Feb 2017 06:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172899/leigh-creek-energy-secures-4m-facility-to-advance-syngas-project-172899.html
<![CDATA[News - Leigh Creek Energy to begin syngas pre-feasibility studies on a positive note ]]> https://www.proactiveinvestors.com.au/companies/news/172334/leigh-creek-energy-to-begin-syngas-pre-feasibility-studies-on-a-positive-note-172334.html Leigh Creek Energy (ASX:LCK) has completed a successful scoping study for the Leigh Creek Energy Project (LCEP) in South Australia and has now commenced a pre-feasibility study.

The LCEP is located in South Australia and has a resource of 2,964 petajoules (PJ) of syngas.

Syngas, or synthesis gas, is a fuel gas mixture consisting primarily of hydrogen, carbon monoxide, and very often some carbon dioxide.

The scoping study covered a number of development cases for further processing of syngas produced from the LCEP with a focus on electricity generation and natural gas production. 

Leigh Creek reviewed several possible options involving a scaled approach, in order to minimise up-front capital.

The scope of these options included a power generation case ranging from 150MW to 550MW and a natural gas production case ranging from 20PJ up to 80PJ.

Based on the results of the study, it is anticipated that a major portion of the current gas Resource could be converted to a gas reserve upon completion of the pre-commercial demonstration and analysis of results.

Leigh Creek has concluded that the cases for both syngas fired electricity generation and natural gas are sufficiently robust to support advancing to the pre-feasibility study.

The company will soon commence the pre-feasibility study.

Leigh Creek’s share price has increased by about 25% during the past three months, last trading at $0.15.

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Mon, 30 Jan 2017 14:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/172334/leigh-creek-energy-to-begin-syngas-pre-feasibility-studies-on-a-positive-note-172334.html
<![CDATA[News - Leigh Creek Energy Ltd on track to build pre-commercial energy plant ]]> https://www.proactiveinvestors.com.au/companies/news/168981/leigh-creek-energy-ltd-on-track-to-build-pre-commercial-energy-plant-168981.html The LCEP will produce high value products such as electricity, methane and fertiliser from the remnant coal resources of the Leigh Creek coal mine utilising in-situ gasification technologies.

Leigh Creek Energy has awarded the contract for the design of the thermal oxidiser and cold vent package to Gasco Pty Ltd, a leading combustion and process engineering company.

The thermal oxidiser will dispose of syngas and associated condensate products produced during the pre-commercial stage of the LCEP.

The cold vent (or safety vent) will only be used operationally for short periods or for safety assurance, and is the system’s safety pressure release valve.

Gasco will design and fabricate the thermal oxidiser and cold vent in Australia.

Using the same supplier for both the thermal oxidiser and the cold vent has created several efficiencies and cost savings, and minimises mobilisation costs.

Leigh Creek Energy is discussing with various parties regarding future gas and electricity sales from the LCEP as well as potential strategic partnering opportunities.

The company has a strong cash balance of $5.4 million as at 30 September 2016.

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Tue, 15 Nov 2016 14:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/168981/leigh-creek-energy-ltd-on-track-to-build-pre-commercial-energy-plant-168981.html
<![CDATA[News - Leigh Creek Energy Ltd drilling ahead at gasification project ]]> https://www.proactiveinvestors.com.au/companies/news/138027/leigh-creek-energy-ltd-drilling-ahead-at-gasification-project-69619.html Leigh Creek Energy Ltd (ASX:LCK) is drilling ahead at the Leigh Creek site 550 kilometres north of Adelaide.

The project entails development of existing deep coal resources that are unable to be accessed by open-cut mining.

Energy will be produced from coal using a process known as in-situ gasification (ISG).

The ISG process converts coal from its solid state into a gaseous form, resulting in the production of synthesis gas (syngas) containing methane, hydrogen and other valuable gases.

The objective is to develop commercial quantities of pipeline quality gas (methane), to generate electricity for the local grid, or other value-added products.

A 3 drill hole program is underway that will continue to validate models at the preferred Pre-Commercial Gas Demonstration Facility site, while obtaining required environmental data.

Further drilling to install additional monitoring wells will be defined on completion of these initial wells.

The company raised $10.8 million in April 2016 in a strong capital raising effort at $0.30 each.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 05 Jul 2016 10:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138027/leigh-creek-energy-ltd-drilling-ahead-at-gasification-project-69619.html
<![CDATA[News - Leigh Creek Energy Ltd gets ready to raise ]]> https://www.proactiveinvestors.com.au/companies/news/138026/leigh-creek-energy-ltd-gets-ready-to-raise-68242.html Leigh Creek Energy Ltd (ASX:LCK) is heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

Earlier in the month the company was granted a Gas Storage Exploration Licence GSEL 662 for an initial period of 5 years.

The company is focussed on the Leigh Creek Energy Project in South Australia, which will produce high value products such as methane and fertiliser from remnant coal resources.

The halt will remain in place until the opening of trade on Wednesday 27th April 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Fri, 22 Apr 2016 15:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138026/leigh-creek-energy-ltd-gets-ready-to-raise-68242.html
<![CDATA[News - Leigh Creek Energy teams up with Archer Exploration ]]> https://www.proactiveinvestors.com.au/companies/news/138025/leigh-creek-energy-teams-up-with-archer-exploration-64761.html Leigh Creek Energy (ASX:LCK), formerly Marathon Resources, has signed a heads of agreement with Archer Exploration (ASX:AXE) to explore synergies on their respective projects at Leigh Creek, South Australia.

The company is developing its Leigh Creek Energy Project (LCEP), an in situ gasification project at the site of Leigh Creek open cut mine.

Archer is pursuing development options for its magnesite deposit located 20 kilometres from the LCEP.

The two companies will work together to identify possible synergies for their respective projects.

These may include the sale of energy from the LCEP to Archer, the sharing of infrastructure and other associated synergistic benefits.

In August, Leigh Creek signed a heads of agreement with AET Investments Unit Trust to jointly develop a chemical and fertiliser facility to service the local market.

The LCEP will provide the raw materials for the facility while AET will provide the technology and know-how.

It seeks to produce gas from in situ gasification of deep coal resources at the existing Leigh Creek coal mine area.

As at 30th June 2015, Leigh Creek had $1.48 million in cash.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 25 Sep 2015 12:00:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138025/leigh-creek-energy-teams-up-with-archer-exploration-64761.html
<![CDATA[News - Marathon Resources granted trading halt for shareholder vote ]]> https://www.proactiveinvestors.com.au/companies/news/138024/marathon-resources-granted-trading-halt-for-shareholder-vote-62600.html Marathon Resources (ASX:MTN) has been granted a trading halt by the ASX this morning, with its shares placed in pre-open.

Marathon requested the halt pending the results of the company’s General Meeting to be held in Adelaide this morning.

The company is moving to acquire ARP TriEnegy which owns the Leigh Creek Energy Project (LCEP).

If security holders approve the resolutions, trading in the company’s securities will be reinstated when it satisfies Chapters 1 and 2 of the Listing Rules.

The LCEP is located at Leigh Creek in central South Australia, 550 kilometres north of Adelaide.

The project is over and around the existing coalfield (which is owned and operated by Alinta Energy).

The LCEP is contained within the recently granted PEL 650, itself contained within the area of PELA 647 (both held by TriE).

The LCEP proposes to develop an In Situ Gasification (ISG) process at depth (300m – 1,500m) using standard oil industry technologies, such as directional drilling.

The halt will remain in place until the opening of trade on Friday 29th May 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 27 May 2015 16:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138024/marathon-resources-granted-trading-halt-for-shareholder-vote-62600.html
<![CDATA[News - Marathon Resources to divulge acquisition details ]]> https://www.proactiveinvestors.com.au/companies/news/138023/marathon-resources-to-divulge-acquisition-details-60991.html Marathon Resources (ASX:MTN) has been granted a trading halt by the ASX pending material details concerning the acquisition of the Leigh Creek Energy Project (LCEP) which has been the subject of prior advice to the market.

In December 2014 Marathon signed a Non-Binding Term Sheet involving a due diligence period, a Farm-In, a Joint Venture and an Option to acquire TriE, which owns LCEP.

The LCEP is located at Leigh Creek in central South Australia around 550 kilometres north of Adelaide, over and around the existing coalfield, and is contained within the newly granted PEL 650, itself contained within PELA 647 - both assets of TriE.

The halt will last until the opening of trade on Wednesday 4th March 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 02 Mar 2015 10:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/138023/marathon-resources-to-divulge-acquisition-details-60991.html
<![CDATA[News - Marathon Resources acquiring in-situ coal gasification project in South Australia ]]> https://www.proactiveinvestors.com.au/companies/news/138022/marathon-resources-acquiring-in-situ-coal-gasification-project-in-south-australia-59952.html Marathon Resources (ASX:MTN) has signed a binding term sheet to acquire ARP TriEnergy Pty Ltd for 138,311,684 MTN shares.

TriEnergy, Marathon’s largest shareholder with a 19.99% interest, owns the Leigh Creek Energy Project in South Australia, which seeks to generate gas supplies from its coal reserves using in-situ gasification.

This operates by drilling two opposite sides of an underground coal seam.

One well injects air or oxygen into the coal seam to initiate the gasification reaction. The other well is used to return syngas to the surface where it can be processed further for power, gas, and chemical purposes.

Leigh Creek has excellent existing infrastructure including a rail line, sealed main regional road access, high voltage power, water, airfield and other services associated with the adjoining townships of Leigh Creek and Copley.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 07 Jan 2015 16:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/138022/marathon-resources-acquiring-in-situ-coal-gasification-project-in-south-australia-59952.html
<![CDATA[News - Marathon Resources granted pre-open status ]]> https://www.proactiveinvestors.com.au/companies/news/138021/marathon-resources-granted-pre-open-status-59286.html Marathon Resources (ASX:MTN) has been granted a trading halt by the ASX, with its shares placed in pre-open.

Marathon requested the halt to conclude arrangements and provide a major announcement concerning the future operations of the company.

The halt will remain in place until the opening of trade on Wednesday 3rd December 2014, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 01 Dec 2014 11:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/138021/marathon-resources-granted-pre-open-status-59286.html
<![CDATA[News - Marathon Resources to farm-in to South Australian copper, gold and base metals project ]]> https://www.proactiveinvestors.com.au/companies/news/138020/marathon-resources-to-farm-in-to-south-australian-copper-gold-and-base-metals-project-48602.html Marathon Resources (ASX: MTN) has secured an option to take up a 75% interest in the Walparuta Project near Broken Hill, South Australia, that is prospective for copper, gold and other base metals.

Under the agreement with SAEX Pty Ltd, the company will undertake immediate exploration work with an airborne electromagnetic survey to begin in late October.

The two companies will also seek approval to commence a drilling program and “walk-up” targets have already been identified at the project.

Marathon has the exclusive right to conduct the initial exploration program at its cost and direction, and may determine to proceed to commercialisation after completing assessment of the project

Under the terms of the farm-in agreement, Marathon will pay all exploration and development costs up to and including a Bankable Feasibility Study stage to secure the 75% interest in the tenement.

SAEX will be free-carried to the BFS stage and will receive additionally $50,000 at that time.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 Sep 2013 16:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138020/marathon-resources-to-farm-in-to-south-australian-copper-gold-and-base-metals-project-48602.html
<![CDATA[News - Marathon Resources finalises agreement, to reveal future direction of company ]]> https://www.proactiveinvestors.com.au/companies/news/138019/marathon-resources-finalises-agreement-to-reveal-future-direction-of-company--39096.html Marathon Resources (ASX: MTN) is in the process of finalising negotiations and concluding an agreement concerning the company’s future operations, with shares placed in an ASX trading halt today.

The company has been focused on refining its broad business direction in recent months.

Marathon’s historical core business was uranium exploration and development in South Australia, however with the uranium market still recovering post-Fukushima, Marathon has made the decision to head down a different path.

The company still plans to remain in mineral exploration and is currently investigating potential prospects in Australia.

The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 6th February 2013.
 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.  

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Mon, 04 Feb 2013 17:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/138019/marathon-resources-finalises-agreement-to-reveal-future-direction-of-company--39096.html
<![CDATA[News - Marathon Resources accepts SA Government offer to grant new exploration licence ]]> https://www.proactiveinvestors.com.au/companies/news/138018/marathon-resources-accepts-sa-government-offer-to-grant-new-exploration-licence-2954.html Marathon Resources (ASX: MTN), through its wholly owned subsidiary Bonanza Gold, has accepted an offer from the South Australia Government to grant a new Exploration Licence over the area previously registered as EL 3258.

The South Australian-based company will continue discussions with the relevant authorities to clarify the new conditions in the Exploration Licence offer and the timing of the amendments to the Mining Act.

Marathon, which listed on the ASX in 2005, is a minerals exploration company focused on the development of one of Australia's largest undeveloped uranium deposits.

The company’s North Flinders Ranges project is located within the Paralana Mineral System of South Australia, a uranium-rich state which is home to the world's largest uranium deposit at Olympic Dam.

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Wed, 21 Oct 2009 11:53:00 +1100 https://www.proactiveinvestors.com.au/companies/news/138018/marathon-resources-accepts-sa-government-offer-to-grant-new-exploration-licence-2954.html
<![CDATA[News - Marathon Resources receives S.A Government approval for rectification works at Mt Gee Project ]]> https://www.proactiveinvestors.com.au/companies/news/138017/marathon-resources-receives-sa-government-approval-for-rectification-works-at-mt-gee-project-1342.html Marathon Resources (ASX:MTN) today announced that PIRSA (Primary Industries and Resources SA) has approved the Closure Report (Independent Verification of Rectification Works at EL3258) at the Company’s Mt Gee uranium project, in South Australia’s northern Flinders Ranges.

The Company said today that PIRSA had completed a final assessment of the rectification works conducted on site between 17 November and 22 December 2008 against criteria documented within the Formal Notification dated 20 August 2008.

PIRSA found that the rectification works undertaken at EL3258 were in accordance with the Rectification Plan approved by PIRSA on 11 August 2008 and the Formal Notification dated 20 August 2008.

Marathon is focused on the Mt Gee project is located within the Paralana Mineral System of South Australia, a uranium-rich state which is home to the world's largest uranium deposit at Olympic Dam. 

Mt Gee has an indicated and inferred resource of 51 million tonnes averaging 615 parts per million U3O8 (cut -off grade 300 pppm), yielding 31,400 tonnes of contained U3O8.

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Tue, 28 Apr 2009 13:26:00 +1000 https://www.proactiveinvestors.com.au/companies/news/138017/marathon-resources-receives-sa-government-approval-for-rectification-works-at-mt-gee-project-1342.html