Universal Coal Announces Maiden Reserve

- January 13th, 2015

Mining Weekly reported that Universal Coal plc (ASX:UNV) announced a maiden reserve of 9.62 million tonnes at the northern open-pit area of the Brakfontein project.

Mining Weekly reported that Universal Coal plc (ASX:UNV) announced a maiden reserve of 9.62 million tonnes at the northern open-pit area of the Brakfontein project.

As quoted in the market news:

The Brakfontein mine is estimated to host a total Joint Ore Reserves Committee-compliant resource of 75.8-million tonnes.

Universal CEO Tony Weber stated:

Following the recent granting of a mining right, Brakfontein only awaits the receipt of its water licence before proceeding to development. We will now focus our efforts on optimising the feasibility study, including investigating the case for using excess capacity at the nearby Kangala operation.

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