Adelaide Advertiser
Wednesday 3/9/2008 Page: 58
Altona Resources has found enough coal in South Australia's Arckaringa coalfield to run a proposed coal to liquids and power plant for 50-100 years. The London-based company yesterday announced a maiden resource of 1.29 billion tonnes of coal at its Wintinna deposit in Far North SA. The coal resource estimate, in declining order of confidence, comprises 187 million tonnes in the measured category, 650 million tonnes in the indicated category and 450 million tonnes in the inferred category.
Altona managing director Chris Schrape said the company could now confidently say there was enough coal of suitable quality to support a coal to liquids and co-generation power plant for 50 to 100 years or more. Altona, which plans to list on the Australian Securities Exchange later this year, has decided to progress the project to the bankable feasibility stage, which is the last stage before a decision to go ahead with a project.
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