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WSL
WSL
WSL - Wescoal Holdings Limited - New order prospecting right over certain
portions of the farm Vlaklaagte 33JS
WESCOAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
JSE Share code: WSL ISIN: ZAE000069639
("Wescoal" or "the Company")
New Order Prospecting Right over certain portions of the farm Vlaklaagte
330JS
1. Introduction
Shareholders are referred to the Sens announcement dated 3 June 2008
relating to the acquisition of additional coal reserves.
Wescoal Mining (Pty) Limited, a wholly owned subsidiary of Wescoal has a
60% shareholding in Wescoal Exploration (Pty) Limited ("Wescoal
Exploration"), the remaining 40% shareholding is held by
Proudafrique Trading 147 (Pty) Limited ("Proudafrique").
Wescoal Exploration has been awarded a New Order Prospecting Right
("NOPR") by the Department of Mineral Resources ("DMR"), number
MP 30/5/1/1/2/1742 PR over certain portions of the farm
Vlaklaagte 330JS ("Vlaklaagte") situated in the Witbank
district.
2. Description
Vlaklaagte lies 13km south west of Witbank, in close proximity to Anglo
Coal (Pty) Limited`s ("Anglo Coal") Greenside Colliery and X-
Strata Coal`s Tweefontein Colliery. Both Greenside and
Tweefontein Collieries produce coal products for the export
market.
Historical data from 23 boreholes have been sourced from Anglo Coal and
the Council for Geosciences which show the portions of
Vlaklaagte covered by the NOPR having an inferred resource of
20,1 million tons of coal consisting of 4 economically
recoverable seams namely No. 1 Seam, No. 2 Seam, No. 4L Seam
and No.5 Seam.
3. Planned future exploration
Further exploration drilling will commence during 2011 to confirm the
historical data and to raise the confidence level to measured
status, following which an application for a New Order Mining
Right will be submitted to the DMR.
The award of the NOPR brings the total resource under prospecting rights
held by Wescoal to an expected 97, 2 million tons.
7 December 2010
Johannesburg
Sponsor
Exchange Sponsors
Date: 07/12/2010 08:00:01 Produced by the JSE SENS Department.
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