Foxleigh Mine - Production and Sales Update
Highlights
- Foxleigh Mine produced 519kt of saleable coal and shipped 790kt in the June Quarter 2017 (on a 100% basis); and
- Realm's cash on hand at 30 June 2017 was A$106m million.
Key operating results for the June Quarter 2017 since the acquisition of the 70% interest in the Foxleigh Mine on 29 August 2016 are shown in Table 1.
Table 1: - Foxleigh Mine (100%) Operating ResultsThousands of tonnes | June Quarter | Since acquisition |
ROM coal produced | 920 | 3,220 |
ROM strip ratio (bcm waste / ROM t) | 7.9:1 | 7.0:1 |
Saleable coal produced | 519 | 2,426 |
Total coal sales | 790 | 2,470 |
The Company is holding an Extraordinary General Meeting on 14 July 2017 to consider, among other items, the acquisition of the 70% interest in the Foxleigh Coal Mine for the purposes of ASX Listing Rule 11.1.2 and 11.1.3 (refer to ASX Announcement 'Notice of Meeting and Resumption of Trading' dated 14 June 2017) (Notice of EGM). Realm's majority Shareholders, Taurus, have advised the Company that they will vote in favour of all resolutions at the Extraordinary General Meeting.
Work is continuing on the preparation of a prospectus in connection with the Capital Raise referred to in the Notice of EGM. The Company intends to lodge the prospectus with ASIC on approximately 4 August 2017 to enable re-instatement to the official list of ASX by approximately
6 September 2017. These activities are in accordance with the timetable included in the Notice of
Date 07/07/2017
EGM.
Realm's cash on hand as at 30 June 2017 was A$106 million.
About Realm
The company's primary focus is creating shareholder value through the operation of the Foxleigh Mine in Central Queensland, while advancing development ready projects throughout the region and internationally. Additionally, Realm seeks to acquire value accretive operations and grow the Company.
Information on Realm Resources Limited is available on the Company's website at
www.realmresources.com.au
For further information, please contact: Gemma Yeates
Financial & Corporate Relations (FCR)
T: +61 2 8264 1005
g.yeates@fcr.com.au
Date 07/07/2017
Realm Resources Limited published this content on 06 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 06 July 2017 05:45:09 UTC.
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