FSE - Firestone Energy Limited - Mining Approval Granted
FSE
FSE
FSE - Firestone Energy Limited - Mining Approval Granted
FIRESTONE ENERGY LIMITED
(formerly: Centralian Minerals Limited)
(Incorporated in Australia)
(Registration number ABN 058 436 794)
Share code on the JSE Limited: FSE
Share code on the ASX: FSE
ISIN: AU000000FSE6
(SA company registration number 2008/023973/10)
("FSE" or "the Company")
MINING APPROVAL GRANTED
Firestone Energy Limited (ASX:FSE / JSE:FSE) ("Firestone" or "the Company") is
pleased to announce that Joint Venture partner, Sekoko Coal Pty Ltd, has been
granted mining approval from the South African Department of Mining and Energy
(DME) to commence an initial small scale mining operation from the company`s
Waterberg coal project in South Africa.
The Joint Venture plans to commence mining operations by the end of 2009 at a
rate of 60,000 ROM tonnes per month, which after washing would yield
approximately 30,000 - 40,000 tonnes per month of saleable coal. Planning and
tendering for the mine activities will commence immediately. Mining remains
subject to a successful feasibility analysis, conclusion of off-take sales
agreements, and FSE Board approval. The Company continues to work toward
securing an off-take sales agreement with State owned power utility, Eskom.
The small mining operation will provide a starter pit for a large scale 18
million tonnes per annum operation planned to commence ramp-up in 2011. The
Company is continuing its efforts to secure the A$25 million necessary to fund
the Company`s activities, including the BFS for the large scale mining
operation.
For more information please contact:
Garth Higgo
Chief Executive Officer
+61 (08) 9381-2755
www.firestoneenergy.com.au
Pretoria
03 September 2009
Sponsor
River Group
Date: 03/09/2009 08:02:01 Produced by the JSE SENS Department.
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