If you think GXS is spec interesso, then take a look at Fortune Minerals, $2.42 on 50 million shares, with a 2.5 billion ton anthracite (metalurgical coal) deposit in Hellengone, Way-out-There, BC.
fortuneminerals.com
Fortune's Mount Klappan coal project in northwest British Columbia contains one of the world's largest undeveloped resources of high rank anthracite coal.
The four resource areas at Mount Klappan are the Lost Fox, Hobbit-Broatch, Sumitt and Nass deposits. Collectively, these contain resources of 107.9 million tonnes classified as Measured, 123 million tonnes classified as Indicated, and 2.572 billion tonnes in the Inferred and Speculative classes.
The Lost Fox deposit was recently assessed in a full bankable feasibility study by Marston Canada Ltd. indicating very attractive rates of return for the development under a variety of production and coal price scenarios.
The study verified the economics of 102 million tonnes of run-of-mine coal reserves, producing 60 million product tonnes of high quality ultra-low volatile PCI coal for the overseas steel industry.
Fortune is proceeding with an Environmental Assessment of the project and concurrent mine permitting while also assessing the potential for producing higher value products and power generation in order to enhance project economics.
The Company has also commissioned a preliminary economic assessment for the transportation of coal products from Mount Klappan using a buried slurry pipeline as opposed to the rail and truck haulage options that were assessed in the 2005 feasibility study.
Fortune retained Marston to undertake this latest study in order to assess alternative methods of conveying coal to the port, mitigate the impacts of a stronger Canadian dollar and increasing fuel costs, and reduce the environmental impacts with the use of existing transportation corridors. The pipeline would also provide an alternative for access to the port of Prince Rupert where there is an under-utilized, world class coal handling facility that can accommodate large "Cape-size" bulk vessels for delivery to international customers.
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