Coal Reserves

The total Open Cut ROM Coal Reserves for the Minas de Revuboè Project are presented in Table 1.

Table 1 – Minas de Revuboè – Open Cut ROM Reserves Estimate

* Tonnages and qualities in the above table are expressed on a ROM basis, incorporating the effects of mining loss, dilution and aggregation, and on a 3.5% ROM moisture basis.
The JORC Reserves are accompanied by 2,645Mbcm of ROM waste. The resultant ROM strip ratio for the entire Minas de Revuboè Project is 3.08:1.

Marketable Coal Reserves

The Marketable Coal Reserves have been reported as two potential product mixes:

  • 10.5% ash hard coking coal, with 25% ash thermal (5,830 kCal/kg NAR), and
  • 13% ash hard coking coal, with 35% ash thermal (4,900 kCal/kg NAR).

The Marketable Coal Reserves are a sub-set of ROM Coal Reserves, however only ONE product mix will be utilised, so the two potential product mixes must NOT be added together. The marketable tonnages for both product mixes are shown in the following tables.

Table 2 – Minas de Revuboè – Marketable Coal Tonnes – 10.5% HCC and 25% Thermal
Table 3 – Minas de Revuboè – Marketable Coal Tonnes – 13% HCC and 35% Thermal


Reserve Estimate

The majority of the Measured Resources within the economic pit limit have been converted to Proved Reserves. Likewise, the majority of the Indicated Resources have been converted to Probable Reserves.
The conversion percentages from Resources to Reserves for each major seam are shown in Table 4.


Table 4 – Resource to Reserve Conversions

As the above table indicates, 85.8% of Measured Resource has been converted to Proved Reserve, whilst 63.6% of Indicated Resource has been converted to Probable Reserve. The overall conversion of Measured and Indicated Resources to Reserves is 75.4%.