Bounty hopeful for haulage

BOUNTY Mining could shift its continuous haulage equipment to another mine after its contract with Anglo Capcoal’s Aquila colliery ends on March 9, while the nearby Bundoora mine contract in Queensland’s German Creek is under negotiation for a 12-month extension.
Bounty hopeful for haulage Bounty hopeful for haulage Bounty hopeful for haulage Bounty hopeful for haulage Bounty hopeful for haulage

Bounty Mining's battery scoop.

Blair Price

The Anglo subsidiary took Bounty by surprise this month in terminating the Aquila contract, but the contracting firm indicated in its quarterly report that the Aquila workforce and equipment could find a new home.

“Senior management has been in discussions for at least one new contract with another company,” Bounty said.

“If this contract is successfully awarded to Bounty then the personnel and equipment that will be available after the Aquila contract is completed will be transferred to the new contract.”

Bounty chairman Gary Cochrane told International Longwall News there was a lot of interest in the continuous haulage unit, also for gateroad work.

He added not all of the enquiries concerned the continuous haulage unit from the Aquila operation.

Bounty was also confident of the December quarter performance.

“The performance of the continuous haulage unit introduced at the Aquila mine in August 2008 continues to improve, and is now achieving the expected productivity of at least 20 per cent better than conventional electric shuttle car transport,” Bounty said.

“The combined quarterly tonnage at Aquila and Bundoora had continued to grow over the last 12 months.”

Bounty said its roadway development contract at Bundoora would now continue until May 2009 with negotiations underway for a 12-month extension.

The company ended the quarter with $2.38 million cash and produced an operating cash flow of $1.82 million during the December quarter, up from $1.78 million in the preceding three months.

Bounty shares remain unchanged at 2c.