Cougar said the upgraded resource would be sufficient to fuel its proposed 400-megawatt power station in Queensland for 30 years.
Cougar plans to use underground coal gasification (UCG) technology at Kingaroy to convert deep coal deposits into a syngas, suitable for power generation.
At full capacity Cougar’s power plant will utilise 2Mt of coal.
Cougar’s resource is found in the Kunioon and Goodger coal seams, at depths more than 100m.
The total tonnage is made up of an indicated resource of 45Mt and an inferred resource of 28Mt.
Cougar plans to raise $A280 million to get the project off the ground and has entered into a memorandum of understanding with Direct Investment of Singapore to raise the funds.
