MARKETS

Eastern updates progress

EASTERN Corporation is continuing to develop of the Broughton project, south of Hail Creek in Que...

Staff Reporter

The junior Australian-listed company said a drilling program was completed during the September quarter to upgrade the resource at Broughton to measured status.

Large core samples for pilot scale carbonisation tests were taken, with the final report expected by the end of November.

A feasibility study of Broughton which started in August is due for completion late next year and will address issues including coal preparation options and rail and port access.

It will also include a fully costed mine plan, geological modelling and environmental and cultural heritage studies.

Eastern’s newly purchased Cascade mine on the west coast of New Zealand's south island operated to expectations during the quarter with production nearing the target of 100,000 tonnes per annum, Eastern Corporation said.

The company hopes to start an exploration drilling program at the its exploration permit at Whareatea West, which is 5km from the Cascade operation and prospective for export quality coking coal.

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