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KEH
KEH
KEH - Keaton Energy Holdings - Vanggatfontein coal reserve increased by 24% to
32.2 Million tonnes
Keaton Energy Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2006/011090/06)
JSE share code: KEH ISIN: ZAE000117420
("Keaton Energy" or "the company"))
VANGGATFONTEIN COAL RESERVE INCREASED BY 24% TO 32.2 MILLION TONNES
Keaton Energy Holdings Limited (Keaton Energy) has declared a 24% increase in
the coal reserve of its 74%-held, Mpumalanga-based Vanggatfontein Project to
32.2 million tonnes - 22.3 million tonnes in the proved category and 9.9
million tonnes in the probable category.
The declaration is contained in an updated SAMREC-compliant East Resource
Block: Coal Reserve and Resource Statement released by the company following
further exploration drilling on the project and completion of a feasibility
update report.
The updated gross tonnes in situ coal resource estimate for the East Resource
Block is 84.2 million tonnes.
Keaton Energy Managing Director Paul Miller said: "With the 5-Seam plant
currently being commissioned, 5-Seam coal being produced from the open pit and
a run-of-mine stockpile in place, the Vanggatfontein project is well under
way. The 2 & 4-Seam plant is under construction with first deliveries to
Eskom expected in the second quarter of 2011. We are pleased that this
updated reserve statement confirms the project`s robustness, and firmly
supports our current development strategy."
Note: The Vanggatfontein East Resource Block: Coal Resource and Reserve
Statement referred to in this announcement and which is available on Keaton
Energy`s website, is an extract from the October 2010 Vanggatfontein East
Resource Block Resource and Reserve Report. The Coal Resource estimate and
classification was prepared by Dr John Hancox of CCIC Coal. The Coal Reserve
estimate and classification was prepared Mr JJ Lotheringen of Ukwazi Mining
Solutions. Both Dr Hancox and Mr Lotheringen are Competent Persons as defined
in the SAMREC Code.
Both Dr Hancox and Mr Lotheringen have provided their consent for the public
reporting of the Coal Resource and Reserve Statement.
Bryanston
09 November 2010
Sponsor
Nedbank Capital
Date: 09/11/2010 10:00:01 Produced by the JSE SENS Department.
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