Development-Ready Coal Opportunity in Telkwa, British Columbia

The Project is located approximately 1,100km north of Vancouver, 15km southwest of Telkwa in British Columbia and 375km east from Ridley Coal Terminal, Prince Rupert.

Key Highlights: 

• The Project hosts a sizeable 125Mt coal Resource and 42.5Mt coal Reserve;
• Coal quality at the Project is indicative of a mid-volatile coking coal, similar to Australia’s Bowen Basin, Blackwater and Isaac Plains mines;
• 2019 DFS indicates a low FOB cash cost averaging US$49.7/t FOB from Ridley Coal Terminal, placing the Project in the lowest ~5% of the global cost curve;
• Strong target market including Japan and South Korea, with samples already tested by steel mills and strong interest from JFE, Nippon and Hyundai;
• Low start up capital of US$54.3m (2019 DFS), with approximately US$36.2m financed from leases; and
• Environmental Certificate targeted for H1 2024: Environmental Application lodged with British Columbia Government in February 2022, and the Federal Government has declined to review the Application.

Table 1: 2019 DFS Outcomes