Reserves and Resources
Quick view table Reserves and Resources
|Project||Recoverable Coal Reserve||Marketable Coal Reserve|||||Measured Resource||Indicated Resource||Inferred Resource||Total JORC Resource|
|Isaac Plains East||3.7||2.8|||||8.4||8.0||4||20|
|Isaac Plains Underground||19.5||15.6|||||0||0||0||0|
Refer to competent person's statement in ASX announcement, December 2020 Annual Report, dated 26 February 2021
Isaac Plains Underground
Stanmore continues to assess potential for an underground extension in the eastern portion of Isaac Plains Mining Lease.
The area contains more than 40Mt of JORC Compliant Measured and Indicated Resources. Approximately 19Mt ROM (Economically Recoverable Resource) may be extracted.
Stanmore has completed the Isaac Plains Underground Bankable Feasibility Study. This study confirms a positive business case for the new underground mine with potential production ramping up to an average of 1.2 million saleable tonnes per annum from year two to the production plan. The quantum of product tonnes forecast for the Underground, combined with the open-cut annual ROM coal sources at Isaac Plains East and Isaac Downs, exceeds the current coal handling preparation plant (CHPP) capacity and contracted port capacity. Stanmore is prioritising its highest margin ROM coal at the Isaac Downs Project to maximise returns to shareholders. Accordingly, the Isaac Plains Underground Project will be deferred until additional port and CHPP capacity are secured or until annual mining rates at Isaac Downs Project are phased down, subject to prevailing business conditions.
The Range project is located in the Surat Basin where exploration activity up to 2012 has identified a total JORC compliant coal reserve of 287Mt. Of this, 184Mt were within the Indicated category.
A definitive feasibility study covering geology, mining, and cost structures confirmed The Range as a 5Mtpa high quality, export grade, thermal coal project. In order for project development to be linked to the coal export at Port of Gladstone, a new railway link is required to be extended between the Moura line and Wandoan area. Until there is certainty as to timing of the rail solution, Stanmore will continue with environmental monitoring and other on-site activities to maintain compliance with approvals. An environmental authority application and a mining lease application are currently on-foot.
A Coal Reserve was declared in June 2011 that demonstrated Marketable Reserves of 94.2 million tonnes.
Location: Surat Basin (24km south-east of Wandoan)
Coal Type: Thermal Coal
Nearest Port: Gladstone
Rail Line: Missing Link to Moura and Gladstone