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Corsa Coal Files Technical Report for PBS Coals Properties
Oct. 15, 2014 03:14PM PST
Industrial Metals InvestingCorsa Coal (TSXV:CSO) reported that it has filed an NI 43-101 technical report for properties controlled by its wholly owned subsidiary, PBS Coals. Corsa Coal acquired PBS in August of 2014, as well as PBS’s Pennsylvania properties.
Corsa Coal (TSXV:CSO) reported that it has filed an NI 43-101 technical report for properties controlled by its wholly owned subsidiary, PBS Coals. Corsa Coal acquired PBS in August of 2014, as well as PBS’s Pennsylvania properties.
As quoted in the press release:
In summary, PBS controls a total of approximately 123.34 million measured and indicated in-situ coal resource tons and 0.03 million inferred in-situ coal resource tons. Of the total measured and indicated tons, 86% are measured and 14% are indicated.
Proven and probable coal reserves were derived from the defined coal resources considering relevant processing, economic (including independent estimates of capital, revenue, and cost), marketing, legal, environmental, socio-economic, and regulatory factors.
Corsa Coal CEO, George Dethlefsen, said:
We are pleased to provide the details of the newly acquired reserves and resources from the acquisition of PBS. These reserves fit perfectly with our investment strategy of acquiring high scarcity value, long lived reserves at a time of market weakness. The actively producing mines and the portfolio of mining projects will provide for significant production optionality and expansion opportunities in the future.