https://www.engineeringnews.co.za

Atrum peers at Canadian projects

3rd May 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed developer Atrum Coal has secured an option over both the Adams and White Rabbit coking coal projects, in Canada.

The projects covered some 8 315 ha and 12 561 ha respectively, and were located close to key infrastructure. Both projects were also immediately contiguous with the Gething mine, a proposed three-million-ton-a-year coal operation.

“Atrum is committed to becoming a strategic metallurgical coal producer. The acquisition of Adams and White Rabbit fits within our strategy to deliver a range of high-value metallurgical coals to the domestic and world markets,” said Atrum chairperson James Chisholm.

Atrum would have the option to acquire the eight coal licences in exchange for a C$50 000 cash payment. If the option is exercised, Atrum would be required to pay a further C$200 000 in cash, as well as issue 450 000 fully paid shares, and pay a further C$4150 000 cash for the reimbursement of historical rental expenditure.

Atrum would further pay the vendor a fixed royalty of C$0.80/t on coal produced and sold from the two project areas.

Atrum said on Friday that it was carrying out a due diligence on the projects.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.076 1.017s - 140pq - 2rq
Subscribe Now