Cobalt Coal Corp ( CVE:CBT) announced that the Westchester Expansion is going ahead
Cobalt Coal Corp (TSXV:CBT) announced that the Westchester Expansion is going ahead.
The press release is quoted as saying:
This Phase 1 Westchester Expansion comprises approximately 121 acres and contains the same high grade low volatile metallurgical Sewell Seam Coal as is currently being mined by Cobalt at its Westchester Mine. Isopach maps, which are supported by historic core drill data on the lands, indicate that the seam thickness increases by as much as 15 inches on the Westchester Expansion such that seam heights greater than 47 inches are to be expected as mining progresses to the southwest compared to seam heights of approximately 32 inches on Cobalt’s existing Westchester Mine lease. Cobalt understands that the Phase 1 Westchester Expansion represents approximately 10% of the In-Place Coal owned by the Lessor at this location and believes that with performance on Phase 1 may be able to obtain further leases from the Lessor
Mike Crowder, CEO of Cobalt, said:
Signing of the Westchester Expansion together with signing of the increased price contract is the icing on the cake to launch Cobalt into continuous, profitable and sustainable operations for many years to come.”