logo-loader
view4DS Memory Ltd

Fitzroy Resources confirms premium hard coking coal at U.S. projects

au_united_states350_530a77d31a684.jpg

Fitzroy Resources (ASX:FRY)  has received final results from 2013 drilling at its Emmaus coking coal project in West Virginia, U.S.

The independent report by Cardno MM&A confirms historic data that the seams at Emmaus are high quality, mid-volatile hard coking coal.

As part of efforts to delineate a coal reserve at Emmaus and Blackstone, Fitzroy intends to commission an independent marketing study.

The study will supply information to be used as modifying factors in the conversion of any future Coal Resources to Coal Reserves, and to understand whether coal from existing seams at our future operations could be sold for premium uses.

Certain coals have characteristics that yield higher market prices to even those that hard coking coal can receive.

Fitzroy has an option agreement to acquire Premier Coking Coal, which holds the Emmaus and Blackstone leases for US$805,000 in cash, 30 million ordinary shares and 20 million performance shares.

The leases contain prospective coal seams that outcrop on hills within the Appalachian Basin, with a short term target to commence low cost production via nearby processing facilities.

Permits already exist on property for mining, plant, refuse disposal and rail loading.

The company is a focused coking coal pure play capitalised at around $4 million.

 

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.

Quick facts: 4DS Memory Ltd

Price: 0.057 AUD

ASX:4DS
Market: ASX
Market Cap: $64.85 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Emmerson Resources discusses recent diamond drilling...

Emmerson Resources Ltd (ASX:ERM) managing director and CEO Rob Bills updates Proactive on the first diamond drilling activities at the Whatling Hill Project in NSW.  A 1,500-metre reverse circulation (RC) and diamond drilling program is targeting an interpreted porphyry copper-gold...

2 days ago

2 min read