Mea Coal Project

The Mea coal deposit is located approximately 120km west of Francistown on PL134/2005. The deposit is located within the southern half of PL134/2005 and is hosted in Lower Ecca Group sediments of the Karoo Supergroup.

Non-core Company assets comprising coal assets will be the subject to a board directed review to consider options to release value and monetise these assets through joint venture participation, corporate re-organisation and assets sale. A Cap is actively engaging third parties on potential development options to progress the project.

Current resources as announced in February 2013 are shown below.

Depth to Top Raw Coal
SEAM Resource East (m) Resources West (m) Thickness (m) RD g/cm3 IM % Ash % VM % FC % Tonnes (Mt)
TOP A 17.9 48.17 1.51 1.57 3.89 23.79 31.23 41.08 17.0
TOP B 25.13 55.62 2.29 1.72 3.50 32.28 21.95 42.32 50.2
TOP C 29.62 58.26 1.57 1.81 2.53 36.88 22.00 38.69 13.8
TOP D 32.42 60.05 0.37 1.69 1.90 29.00 28.60 40.50 2.4
MID A 63.4 90.3 0.92 1.70 3.20 32.10 20.60 44.70 28.2
MID B 68.03 95.2 0.99 1.78 2.90 37.50 24.80 34.80 31.7
MID C 73.35 100 0.44 1.59 3.10 21.50 26.50 48.90 13.5
MID D 75.88 102.8 1.32 1.78 3.41 35.94 23.55 36.69 14.9
MID E 82.11 109.29 0.7 1.88 1.60 43.20 17.60 37.60 9.0
BOT A 84.61 100.29 2.32 1.83 2.61 36.13 19.18 42.42 39.8
BOT B 89.73 115.69 1.62 1.84 2.77 34.70 18.28 44.33 36.5
BOT C 93.25 121.08 2.49 1.76 3.30 35.00 31.40 41.40 78.7
16.54 1.76 3.03 33.82 23.79 41.10 335.5
Depth to Top Proximate Analyses – Cumulative 1.50 Float
SEAM Resource East (m) Resource West (m) Thickness (m) Yield % CV Mj/kg CV Kcal/kg IM % Ash % VM % FC % TS %
TOP A 17.9 48.2 1.5 75.5 24.2 5792 3.9 17.5 32.3 46.3 1.23
TOP B 25.1 55.6 2.3 51.3 26.0 6212 4.2 14.1 27.0 54.7 0.92
TOP C 29.6 58.3 1.6 46.3 27.8 6630 2.4 13.0 18.8 65.8 1.44
TOP D 32.4 60.1 0.4 76.5 25.3 6043 3.8 19.1 27.3 49.6 1.59
MID A 63.4 90.3 0.9 43.6 27.9 6664 3.6 12.1 28.1 56.1 1.73
MID B 68.0 95.2 1.0 53.3 27.0 6449 3.2 14.8 27.4 54.7 1.15
MID C 73.4 100.0 0.4 87.7 28.5 6807 3.8 9.1 30.2 56.9 1.18
MID D 75.9 102.8 1.3 51.8 26.2 6266 3.7 14.5 30.2 51.6 1.02
TOTAL     9.41 56.6 26.4 6313 3.58 14.4 27.24 54.8 1.2

Drilling in 2014 highlighted a pervasive dolerite sill across the deposit which would increase the cost of an open pit mining operation. At the current coal price it is considered sub economic at present and no further work is planned.