July 17, 2013
Cougar Energy, the company behind the cancelled underground coal gasification project at Coolabunia, has announced a major coal find at its Mackenzie Coal Project in central Queensland.
Trading in Cougar shares was suspended on the ASX today ahead of the announcement.
CEO Rob Neill said there was an inferred 201 million tonnes of resource.
The project is located between two currently operating open cut mines which are long-term producers of export grade coal.
A scoping study has now begun.
“This is very exciting news for Cougar Energy shareholders who now have an investment in a significant PCI coal asset,” Mr Neill said.
