Canning Basin Coal Project (Stratum Metals)

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{{#badges: CoalSwarm|Navbar-WesternAustraliacoal}}The Canning Basin Coal Project (Stratum Metals) is a notional coal project in north-west western Australia which has been touted by Stratum Metals. (Cullen Resources, another small exploration company, also has coal exploration interests in the Canning basin which it also refers to as the 'Canning Basin Coal Project'. See here for details Canning Basin Coal Project (Cullen Resources).)

Coal interests

On its website Stratum states that the Canning Basin Coal Project comprises two granted Tenements February 2012 and 3 tenement applications in an emerging coal province in the Kimberley region of Western Australia. The tenements cover prospective rocks in the Lightjack Formation which is known to host coal deposits currently being evaluated by Rey Resources Limited."[1]

In a March 2012 investor presentation Stratum touted the Canning Basin as being "9 days closer to India by ship than the Galilee Basin".[2]

In the presentation Stratum lists its exploration titles as E0402125, E0402124, E0402160, E0401993 and E0402161. The company stated that its "coal interests are held in an 80/20 joint venture with State Resources. Stratum plan to spend $250,000 on exploration in fulfilment of its obligations to obtain a 60% interest in this tenement and, subject to positive results, an additional $750,000 on exploration in the second year to obtain an 80% interest. The Heritage Protection Agreement was finalised between Stratum, State Resources and the Kimberley Land Council on behalf of the Nyikina Mangala group. With the Heritage Protection Agreement finalised, Stratum is able to progress with exploration of prospective thermal coal projects. An extensive desktop study is underway."[3]

In their quarterly report released at the end of October 2012, Stratum stated that:

"Work during the quarter was limited to acquisition of additional tenure within the project area, with subsidiary company Stratum Coal Pty Ltd applying for tenement E04/2231 ... Prior to granting the application will be open for public objection and negotiation of an access and heritage protection agreement is likely to be required. Successful granting of the tenement Stratum will gain an additional ~25 km of prospective strike to target exploration for near surface thermal coal."[4]

In mid-October 2012 Stratum announced that it had "applied for a further tenement E04/2235".[5][4]

Articles and resources

References

  1. "Executive Summary", Stratum Metal website, accessed September 2012.
  2. Stratum Metals, "Investor Presentation", March 8, 2012.
  3. Stratum Metals, "Investor Presentation", March 8, 2012, page 15.
  4. 4.0 4.1 Stratum Metals, "Quarterly Activities Report", Stratum Metals, October 31, 2012, page 7.
  5. Stratum Metals, "Canning Basin Coal Project Tenement Holding Expanded", Media Release, October 17, 2012.

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External resources

External articles