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Keaton Energy declares 25.9 Million tonne coal reserve for Delmas project

Wednesday, May 13th, 2009

Keaton Energy Holdings Limited has declared a 25.9 million tonne coal reserve for its 74%-held Delmas Project in South Africa’s Mpumalanga Province – 24.3 million tonnes in the proved category and 1.6 million tonnes in the probable category.
The declaration is contained in an updated SAMREC-compliant Reserve and Resource Statement released by the company following further exploration drilling on the project and the completion of a feasibility study.
The feasibility study found that, after the application of modifying factors, the majority of the shallow bituminous coal of the No. 5, No. 4 and No. 2 Seam resource could be converted to a reserve.
The updated mineable in situ coal resource estimate for the project is 163.4 million tonnes, inclusive of the 25.9 million tonne reserve.
Keaton Energy Managing Director Paul Miller said: ”The conversion of coal resource to coal reserve is very significant; it shows that the project is robust and it takes us a major step towards bringing Delmas into production.”
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