Optimization Study Shows Coalspur Needs Less Capital for Vista

Coalspur Mines Limited (ASX:CPL,TSX:CPT) announced that results of an optimization study suggest that they will be able to use significantly less capital to  bring its Vista Coal Project  to production.

As quoted in the press release:

The Study focused on the mining schedule, the timing of equipment purchases, and a phased approach to construct the processing and clean coal facilities to better align with the ramp up profile of Vista. The Study has shown that the scheduling of Vista can be optimised such that the original Phase 1 plan for 5.0 million tonnes per annum can be developed in two discrete stages.

Coalspur President and CEO, Gill Winckler said:

We are very pleased with the results of the Study as it significantly reduces the capital expenditure required to bring Vista into production and provides us with optionality for future development phases. Furthermore, all the work done on the Phase 1 regulatory applications and the detailed engineering remains valid and our timeline to first production remains intact, as does our maximum clean coal production rate. The slower schedule will enable us to better manage the social and economic impacts of Vista in the Hinton region and give us more time to work with the community and key stakeholders.

To view the whole press release, click here.