Bandanna ups Springsure JORC

FOLLOWING more drilling and the consolidation of previous reporting, Bandanna Energy has reported a 35% measured resource increase at its Springsure Creek project.

Staff Reporter

Last updated this time last year, the 543.7 million tonne resource was separated across project domains.

Bandanna has now consolidated its reporting into a single resource statement totalling 533Mt, but with a 35% increase in the measured category.

The project’s resources now stand at 74Mt measured, 207.5Mt indicated and 251.6Mt inferred.

Bandanna’s managing director, Michael Gray, said the revised resource statement demonstrated the large scale of the project.

“With even greater confidence as to the size of the Springsure Creek project resource, its high coal quality, relatively low capital and operating cost structure, proximity to existing rail lines, secure port capacity and advanced state of approvals, Springsure Creek is uniquely positioned to become Australia’s next major thermal coal producer,” said Gray.

Bandanna expects to finalise a revised reserve statement for the project in the near future.

Based on it securing regulatory approvals and funding by the end of the year, production from the project is forecast to start in mid-2015.

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