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Green Light For ‘Next Step’

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MDL385 and the adjoining area for which Moreton Resources applied in July for a mineral exploration permit ... EPM25992 (Source: Moreton Resources)

Moreton Resources CEO Jason Elks

September 3, 2015

Moreton Resources announced today it will be going ahead with the next step in its bid to turn part of its major South Burnett asset – MDL385 – into a working coal mine.

Moreton subsidiary MRV Tarong Basin Coal Pty Ltd has hired a mining consultancy company to conduct a pre-feasibility study for the project, which is situated on the old Cougar Energy site near Coolabunia.

AMC Consultants will investigate and determine the pre-feasibility outcome of MDL385.

Moreton CEO Jason Elks said AMC Consultants were a leading, independent mining consultancy who provide services exclusively to the minerals sector.

Their clients included the likes of BHP Billiton, NewCrest Mining and Rio Tinto, he said.

“As such the company has great faith that this consultancy will assist us fast track our pre-feasibility, so that the Board can consider the outcomes, and our next strategic move for this asset,” Mr Elks said in a statement to the ASX.

Moreton has also hired geologist David Arnott to work on MDL 385 and the company’s other assets.

Mr Elks said the focus of MDL 385 continued to be on supplying competitive and superior quality coal supply that could be considered as an alternate to other supplies within the region.

He said the positive results of prior studies made it sufficiently compelling to warrant advancement of the Tarong Basin Thermal Coal Project to pre-feasibility status.

“This project, has the potential to secure the economic future of the South Burnett , as for the last 30 years coal mining  and power generation have gone hand-in-hand,” Mr Elks said.

“When such debates as 50/50 renewables, Emissions Trading Schemes and other targets are considered, more pressure will come to bear on ensuring cost-effective fuel stocks to the power generators.”

Mr Elks said Moreton Resources remained committed to working closely with local residents, landholders and the broader community to minimise and manage potential impacts on the region.

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