Go Back Email this Link to a friend


Keh - Keaton Energy Holdings - Sterkfontein Coal Resources Doubled To 69mt

Release Date: 06/04/2010 11:47:16      Code(s): KEH
KEH - Keaton Energy Holdings - Sterkfontein coal resources doubled to 69Mt      
Quality of resource points to potential export and domestic products            
Keaton Energy Holdings Limited                                                  
(Incorporated in the Republic of South Africa)                                  
(Registration number 2006/011090/06)                                            
JSE share code: KEH  ISIN: ZAE000117420                                         
("Keaton Energy" or "the company")                                              
Sterkfontein coal resources doubled to 69Mt                                     
Quality of resource points to potential export and domestic products            
Keaton Energy announced today that is has doubled the coal resource at its      
Sterkfontein coal project in  South Africa`s Mpumalanga Province to 69 million  
mineable tonnes in situ, following the conclusion of the first phase of its     
current drilling campaign                                                       
The latest coal resource statement published today and available in full on the 
company`s website (www.keatonenergy.co.za), is the subject of a March 2010      
Independent Competent Person`s Report.                                          
Keaton Energy CEO Paul Miller says: "We were confident previously that there was
sufficient coal to develop an underground mine with output suitable for both the
export and domestic markets.  The substantially increased resource base allows  
us to consider the development of an underground mine with a significantly      
longer life."                                                                   
Sterkfontein, located near Bethal and 143km south east of Johannesburg,         
immediately to the south east of Sasol Mining`s Twistdraai operations, was      
enlarged to cover a total of 7 279.81ha following Keaton Energy`s acquisition   
(through subsidiary Labohlano Trading No 56 (Proprietary) Limited) of 3 270ha of
contiguous prospecting rights from Ibutho Mzinoni Coal (Proprietary) Limited    
("the acquisition").                                                            
The acquisition included data from a 25-hole drill programme completed by the   
previous owners.  To expand the resource base, Keaton Energy embarked on a      
drilling programme, the first 30 holes of which were completed on the south     
block of the combined properties.   This brings the total number of holes       
drilled to date on the project area as a whole to 192.  The exploration         
programme is at an advanced stage with about 50% of the resource drilled to the 
measured category and the remainder drilled to the indicated category.          
Miller, looking to the medium-term future, says:  "The remainder of the drill   
programme is well underway and the remaining 56 holes planned for the two       
northern blocks of the resource should be completed by mid-2010.                
We should then have defined the coal resource base to the level of confidence   
which will allow us to launch a pre-feasibility study for a major underground   
multi-product mine producing both export and domestic coal."                    
Bryanston                                                                       
6 April 2010                                                                    
Sponsor                                                                         
Nedbank Capital                                                                 
Date: 06/04/2010 11:47:16 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          



                                        
Email this JSE Sens Item to a Friend.

Send e-mail to
© 2017 SHARENET (PTY) Ltd, Cape Town, South Africa
Home     Terms & conditions    Privacy Policy
    Security Notice    Contact Details
Market Statistics are calculated by Sharenet and are therefore not the official JSE Market Statistics. The calculation/derivation may include underlying JSE data.