Quarterly Activities Report
With critical infrastructure arrangements signed in the March 2012 quarter, during the Reporting Period Bandanna Energy Limited (ASX:BND) directed its focus on further progress of the definitive feasibility study for the Springsure Creek coal project, addressing community and other stakeholder project interests and enhancing management and human resources to assist the Company in execution of its strategy to become Australia's next coal producer.
Key activities for the Reporting Period, with the strategic objective of bringing the underground Springsure Creek coal project into production in the second half of 2014, include:
- further consolidating the expertise and experience of Bandanna's leadership team, with the appointment of independent, non-executive director John Pegler as Chairman of the Board and the appointment of Stuart Clarke as Chief Development Officer
- finalising Cultural Heritage Management Plans with the indigenous Karingbal People for Springsure Creek and Arcturus
- confirming a 50% increase in the JORC compliant Reserve for Springsure Creek (EPC891) to 153.5Mt
- preparation for submission of a replacement mining lease application for the Springsure Creek coal project in the September quarter
- continuing definitive feasibility studies and preparation of the draft EIS for the Springsure Creek and Dingo West coal projects
- continuing discussions with a number of third parties in relation to a potential sell down by Bandanna of a minority interest in the Springsure Creek coal project.
To view the complete Bandanna Energy quarterly report including Tables and Figures, please click the link below:
About Bandanna Energy Limited
Bandanna Energy Limited (ASX:BND) is uniquely positioned to become Australia's next coal producer. The company's core activities are exploration, project evaluation and development of thermal and PCI coal assets located in Queensland, Australia.
Bandanna Energy is the only ASX listed company with substantial coal assets in both the Bowen and Galilee basins subject to EIS and advanced mine studies. The company is committed to working constructively with the communities in which it operates, and delivering growing returns to shareholders, government and the community.
Bandanna Energy's Springsure Creek underground thermal coal project is scheduled to commence production in mid-2015. Bandanna is a 14% shareholder in Wiggins Island Coal Export Terminal (WICET) Stage 1 at Gladstone, with port allocation of 4Mtpa for the Springsure Creek Project, and has also secured the necessary infrastructure capacity for the integrated rail haulage of coal from the Springsure Creek Project to port.
Bandanna Energy Limited