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THE WATERBERG COAL COMPANY LTD - Feasibility study delivered to Eskom and final burn test nearing completion

Release Date: 06/02/2014 10:07
Code(s): WCC     PDF:  
Wrap Text
Feasibility study delivered to Eskom and final burn test nearing completion

The Waterberg Coal Company Limited
(formerly Range River Gold Limited)
(Incorporated in Australia)
(Registration number ABN 64 065 480 453)
ASX: WCC | JSE: WCC | ISIN:
AU000000WCC9
(“WCC” or “the Company”)




             ASX Release                   FEASIBILITY STUDY DELIVERED TO ESKOM AND FINAL BURN TEST NEARING
                                                                      COMPLETION

           6 February 2014                                    LETTER OF INTENT SIGNED WITH ARDBEL

                                           Highlights

   THE WATERBERG COAL COMPANY                  -    Eskom Feasibility Study delivered
             LIMITED                           -    Final bulk sample burn test presently underway
        ABN 64 065 480 453
                                               -    Final Coal Supply Agreement negotiations continue
                                               -    Letter of Intent for Engineering and Procurement and Construction
                Level 1                             Contractor Signed
          330 Churchill Avenue
              Subiaco WA                   The Waterberg Coal Joint Venture Partners (WCJVP) are very pleased to report that
               Australia                   they have completed a Feasibility Study (Study) into the development of an opencast
                                           mining operation to produce 10 million tonnes of coal (Product) per annum for Eskom
                                           for an initial term of 30 years.
         Tel:+61 8 9200 4243
         Fax: +61 8 9200 4469              The Study was completed pursuant to the Memorandum of Understanding (MOU)
                                           with Eskom for the proposed Coal Supply Agreement (CSA) and is confidential.

               Contact:                    The WCJVP are presently updating the Study which will be released as a full Bankable
          Mr Brian McMaster                Feasibility Study (BFS) on completion.
          Executive Chairman
                                           A condition precedent of the CSA is for Eskom to complete a burn test on a bulk
                                           sample of approximately 200,000 tonnes of Product. Eskom has now taken delivery of
                E-mail:                    this bulk sample and it is expected that this Product will be tested over the course of
       info@waterbergcoal.com.au           the next 30 days.

                                           Discussions between the WCJVP and Eskom as to the terms of the CSA are well
                                           advanced.
              Directors:
            Brian McMaster                 The Company is also very pleased to announce that it has entered into a Letter of
            Stephen Miller                 Intent with Ardbel, a joint venture between ELB engineering services and the DRA
            Mathews Phosa                  group, which collectively are the pre-eminent materials handling and engineering
             Jonathan Hart                 services provider to the mining sector in South Africa as its preferred Engineering,
                                           Procurement and Construction contractor for the proposed development of the
              Daniel Crennan
                                           Waterberg Coal Project.
             Scott Funston
                                           Stephen Miller
                                           Director
           ASX / JSE Symbol:
                  WCC                      The Waterberg Coal Company Limited
6 February 2014

JSE Sponsor

The Standard Bank of South Africa Limited

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