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Aspire Mining is fast-tracking a world-class coking coal project

The company is developing one of Mongolia’s largest coking coal JORC Reserves.

coal
Ovoot is positioned as a priority One Belt One Road project

Aspire Mining Ltd (ASX:AKM) updated shareholders at its annual general meeting (AGM) yesterday about progressing its 100% owned Ovoot Coking Coal Project in Mongolia.

Ovoot, a potential future open pit and underground mining project hosts JORC-compliant reserves of 255 million tonnes of premium coking coal.

A pre-feasibility study (PFS) has been completed and Aspire is now fast-tracking studies for a trucking based solution via the Ovoot Early Development Plan (OEDP).

The OEDP, due in the first half of next year, means production from the project can be unlocked earlier due to the project no longer being entirely tied to project rail infrastructure.

READ: Aspire Mining shares surge on revealing viable rail link between Ovoot and Russian border

Ovoot’s PFS confirms the potential to deliver up to 10 million tonnes per annum of washed high quality “fat” coking coal over a 20+ year mine life (pending a rail solution).

The OEDP now being progressed will deliver washed coking coal via a trucking solution to the existing railhead at Erdenet.

The existing rail infrastructure can deliver 3 to 4 million tonnes per annum.

The OEDP is anticipated to deliver strong early cash flow and support medium-term delivery of rail solution to unlock full 10 million tonnes per annum production profile.

Aspire owns two coking coal projects and a dedicated rail subsidiary

Quick facts: Aspire Mining Ltd

Price: 0.012 AUD

ASX:AKM
Market: ASX
Market Cap: $39.92 m
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Aspire Mining PFS shows 'fantastic financial outcome' with further optionality

Aspire Mining Ltd (ASX:AKM) managing director David Paull talks Proactive Investors through the outcomes of a Pre Feasibility Study on the Ovoot Early Development Project. The company is seeking the near-term production of coking coal from the Mongolian asset, to feed Chinese...

on 1/3/19

2 min read