Jameson Resources (ASX:JAL) is preparing to make a material announcement on the Pre-Feasibility (PFS) results of the company’s Crown Mountain Coal Project, which is located in the Elk Valley Coalfield of Canada.
The ASX has granted Jameson a trading halt, with its shares placed in pre-open.
Preliminary PFS results were positive, with key mining parameters determined to-date are consistent with the 2013 Preliminary Economic Assessment (PEA).
- Projected plant yields fall within the 40% to 60% range estimated in the PEA: approximately 59% in the North Block, 55% in the East Block, and 48% in the South Block, for a propertywide average of 52%.
- Clean strip ratio ranges from 7.05 to 9.79:1 during the first 5 years, averaging 10.23:1 over the mine life.
- Average production level will be within the upper half of the PEA’s estimated 1.3 – 1.9 million clean tonnes per annum.
The halt will remain in place until the opening of trade on Monday 11th August 2014, or earlier if an announcement is made to the market.
