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COALBANK Limited (CBQ)
is a publicly listed company on the Australian Securities Exchange (ASX).


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General Overview

About COALBANK Limited

The Company holds a group of Exploration Permits for Coal (EPCs) in the Eromanga, Surat and Bowen Basins. Following the release of the Company’s maiden JORC-compliant inferred thermal coal resource of 1.3 Billion tonnes at its Blackall Coal Project in June 2012, the Company has been focused on continuing discussions with strategic investors and qualifying corporates with a view to attracting one or more strategic partner and/or a corporate transaction to unlock value.

In December 2012, the Company announced the sale of its Surat Gas Pty Ltd subsidiary, which was the holder of its granted ATP 1020 and applications for three other ATPs in Queensland. The sale of Surat Gas was consistent with the Company’s strategy to focus on its efforts and limited financial resources on its coal exploration portfolio.

The Company has also sought interested parties for the sale or joint venture of its minerals exploration tenements during 2012 and 2013.

In April 2013, the Company received a non-binding offer from Loyal Strategic Investment Ltd. for a conditional whole-of-company transaction, including an up-front deposit, the repayment of convertible bonds issued by the Company, and the acquisition of all its shares by way of a Scheme-of-Arrangement.


Projects

Surat and Eromanga Basins

The western Surat and Eromanga Basins tenements cover an extensive area – more than 400 kilometres from west of Roma to Blackall in Queensland.

COALBANK’s tenures predominantly are pastoral areas and lie to the west of the bulk of cropping land regarded as strategic to the State.

Blackall Coal Project

COALBANK’s Blackall Project is located on an existing rail corridor, only 130 km south-west of the Alpha area coal projects. When considered in the context of neighbouring coal projects to the south of COALBANK’s tenements, a major new coal province has emerged in the Blackall Region. In this respect, COALBANK is ideally placed at the forefront of this new coal province.

COALBANK's Blackall Project has access to an existing rail corridor and is in relatively close proximity to the existing Central Rail Line to Emerald and Gladstone and the proposed Galilee Rail infrastructure planned to connect to Abbot Point.

In June 2012 Coalbank announced its maiden Inferred Coal Resource of 1.3 billion tonnes reported in accordance with the JORC code for the Blackall Project.

The information in this announcement that relates to the Resource Statement has been based on information compiled by Mr Rowan Johnson who is a Member of the Australasian Institute of Mining and Metallurgy and is a Senior Geologist employed by McElroy Bryan Geological Services Pty Ltd (MBGS).

Mr Johnson has more than 30 years experience as a geologist in the resources industry and more than 15 years experience in the estimation of coal resources for coal projects and coal mines in Australia and overseas. This expertise has been acquired principally through exploration and evaluation assignments at operating coal mines and for coal exploration areas in Australia’s major coal basins and in other coal basins overseas. This experience is more than adequate to qualify him as a Competent Person for the purpose of Resource Reporting as defined in the 2004 edition of the JORC Code.

Inverness Deposit Location

EPC1993 and EPC1719 are located in the north-western corner of the Blackall Coal Project near the township of Blackall and centred 20 kilometres south-east of the town. COALBANK's Inverness Deposit is located in the western part of EPC1993, with the northern five kilometres of the deposit extending into EPC1719. Other than public road easements, all land in the Inverness Deposit area is privately owned.

Western Surat Basin

COALBANK has identified numerous significant coal intersections in water-bores across the tenements which are clearly much higher in the sequence than the Birkhead Formation.

COALBANK considers that they demonstrate the presence of a hitherto unrecognised lateral equivalent of the Upper Walloon sequence ( the Juandah Coal Measures) in a region where conventional interpretations have the prospective Walloon Coal Measures thinning westward across the Nebine Ridge and grading laterally into the Birkhead Formation.

The company is also encouraged by the significant thicknesses of coal rich intervals reported from both Upper and Lower Walloons.


South East Queensland

Further COALBANK coal exploration projects in South East Queensland are in the Esk Trough (application for EPC 2239 Coal Creek); in the eastern Surat Basin at Coalbank South (EPC 2240 and application for EPC 2359); and Biloela South (EPC 2241).

The projects are located in the historical coal mining regions of central and southeast Queensland and are well located in relation to rail and port infrastructure, water supplies, power stations, existing coal mines and Queensland’s east coast.

Surat Gas- Petroleum Prospects 

Surat Gas tendered for the rights to ATPA 1072, 1095 & 1098 in April 2010.  Following completion of necessary Native Title processes ATP 1072 was granted in January 2013, and ATPAs 1095 and 1098 were granted on 1st June 2015.

The Company’s 3 ATPs in the oil and gas industry are held by its wholly owned subsidiary Surat Gas Pty Ltd.

The Company seeks interest from parties for joint venture opportunities for its activities.



Contact Info

COALBANK Limited

Level 6
344 Queen street
Brisbane, QLD
AU Australia, 4000

Phone: +61 7 3229 6606
Website: http://www.coalbank.com

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COALBANK Limited Google Map
COALBANK Limited Google Map

Share Registry

Link Market Services Limited - Click here to view share registry profile

Phone: +61 2 8280 7100
Fax: N/A
Email: info@linkmarketservices.com.au
Website: http://www.linkmarketservices.com.au/

Level 12
680 George Street
Sydney, NSW
AU Australia, 2000


Important Information

The General Overview, Services, Products and Projects information for this profile was last edited on 05 Feb 2016.

All Financial Data is provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Share Prices nor any independent data provider is liable for any informational errors, omissions or other defects, incompleteness, or delays, or for any actions taken in reliance on Financial Data.

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