Johannesburg, South Africa – MININGREVIEW.COM — 29 May 2008 – JSE-listed Keaton Energy Holdings – a new coal junior planning to produce 2 Mtpa of coal within three years – has announced a 61.4% increase in mineable, in-situ coal in the measured category – from 60.1 million tonnes to 97 million tonnes – at its Delmas Project in South Africa’s Mpumalanga Province.
Referring to an update contained within its pre-listing statement issued on 15 April 2008, Keaton Energy managing director Paul Miller said the increase followed drilling of a further 33 boreholes on the Delmas project for mine planning purposes, and to improve confidence in the project’s coal resource estimate.
“This positive result positions us even more strongly to capitalise on buoyant local and international markets when mining of the Delmas Projects begins,” Miller added. “The start is currently scheduled for early 2009.”
The Delmas project area’s total mineable in-situ coal resource in the indicated and measured categories has increased by 4% from 171.5 million to 178.4 million tonnes.
Mineable in situ coal in the indicated category now totals 81.4 million tonnes, down from 111.1 million tonnes. The estimated total mineable in-situ coal resource classified as bituminous coal has increased from 122.6 million tonnes to 132 million tonnes, while the estimated total mineable in-situ coal resource classified as pseudo-anthracite (lean or de-volatilised coal) has decreased from 45.3 million tonnes to 41.6 million tonnes.