In an update on the company’s exploration activities, Cockatoo said four exploration rigs, geotechnical drilling and gas testwork drilling had been operating at both tenements since last October.

Meanwhile, sterilisation drilling used to define potential areas for future mining infrastructure along the eastern margin of the Baralaba North and South projects was complete.

In October 2011, Cockatoo increased the total JORC-compliant resources at its Baralaba North project and northern extension of the Baralaba mine by 7%, from 59 million tonnes to 63Mt.

Since then, Cockatoo has managed to drill 31 openholes for 5450m at the Baralaba North project, 17 openholes for 2318m at the Baralaba mine project and 15 openholes for 2330m at the Baralaba South project.

Cockatoo said overall, 2011 had been a productive year for the company as it had met a number of key objectives.

Cockatoo’s Bowen Basin projects, including an expansion of the Baralaba open pit mine, are located approximately 180km west of Gladstone.

Cockatoo is targeting production of 2.8Mt of coal in 2014 and 9.9Mt by 2016.