Projects - Ashford

LOCATION: EL6234 and EL6428. Near Ashford, Northern New South Wales
OWNERSHIP: 50% NEC
PROJECT PHASE: EXPLORATION
PRODUCT: Coking Coal
ESTIMATED RESOURCE: ~18 Mt

The Ashford Project is a 50/50 joint venture with Renison Consolidated Mines and is located 10km north of the township of Ashford in northern New South Wales.

A systematic assessment of the additional exploration tenements held in the region conducted by the joint venture did not result in any increase in the previously reported resource. As a result the Company is considering a development based on the 18Mt Inferred Resource previously outlined at Ashford, possibly in conjunction with other deposits identified by third parties in the region.

Transport and port infrastructure capacity for Ashford remains the key issue to be addressed for the project.

A rail link into Brisbane from the Ashford region or improved access to Newcastle would enhance the prospects for the development of this project.

The Commonwealth Government has decided on the preferred route for the proposed inland railway which will run to the west of Ashford. This project would bring heavy haul rail capacity much closer to the Ashford project and thus increase the prospects for a viable development of the existing resource.

The Company continues to monitor potential transport infrastructure development in the area.