The December quarter was a productive one for Eastern: the listed junior completing much of the preparation of a broad economic model based on a costed mine plan, recommending strategies for coal processing and export, and identifying coal specification to predict project revenues for its Broughton project. Completion of the feasibility study is expected mid this month.
During the quarter, Eastern overcame some early production problems at its Cascade mine, bought new equipment and implemented new mine plans. Eastern is now looking at sailing it first export shipment from the mine.
The company is currently waiting on the New Zealand Government to approve access at its New Zealand exploration project – Whareatea West – where the company plans to conduct a further 10 exploration drillholes.
