TSE:GCE - Grande Cache Coal - no debts, cash higher than cap Message Board

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Technology Stocks : TSE:GCE - Grande Cache Coal - no debts, cash higher than cap

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From: Natedog	7/3/2011 10:46:13 PM
	of 4

Grande Cache increases coal estimate to 346 mt M+I+I 2011-06-29 17:18 ET - News Release Mr. Ian Bootle reports GRANDE CACHE COAL CORPORATION ANNOUNCES FILING OF ANNUAL INFORMATION FORM AND UPDATED INDEPENDENT TECHNICAL REPORT SUPPORTING A SIGNIFICANT INCREASE IN COAL RESOURCES AND RESERVES Grande Cache Coal Corp. has filed its annual information form for the fiscal year ended March 31, 2011, with Canadian security regulatory authorities along with an updated independent technical report prepared by AMEC Americas Ltd. estimating the coal resources and reserves of Grande Cache Coal in compliance with National Instrument 43-101 (standards of disclosure for mineral projects). The updated technical report includes the results of recent drilling activity in the No. 8, No. 2 and No. 12 surface pit areas. Also included in the report is a recent comprehensive review of the propertywide geological information, the structural models, as well as new pit designs in the No. 2 and No. 12 North areas, and updated pit designs for the No. 8, No. 12 South A and No. 16 areas, which represent new information since the date of the previous technical report prepared by AMEC dated May 26, 2010. The culmination of these changes has resulted in a 45.5-per-cent increase in the measured, indicated and inferred in-place coal resources to 346.0 million tonnes and a 76.7-per-cent increase in proven and probable saleable coal reserves to 97.5 million tonnes. The majority of the change in the proven and probable saleable coal reserves is due to the conversion of resources to reserves in the No. 12 North surface area and the addition of the newly modelled and designed No. 2 surface pit. "The increase in our saleable coal reserves is significant to our company. We now have a reserve base large enough to support a 35-year mine plan, which will underpin the long-term future of our company," stated Robert Stan, president and chief executive officer of Grande Cache Coal. Copies of the foregoing continuous disclosure documents are available at SEDAR and Grande Cache Coal's website. We seek Safe Harbor.

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