Total
0
Shares
Image Sourced ShutterStock
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Bowen Coking Coal has revealed positive results from its Isaac River Coking Coal Project in Queensland
  • The new results are consistent with the raw coal quality results from the first two holes of the six-hole drilling program
  • Results reaffirm that the perviously untested Vermont Upper seam displays strong coking coal characteristics, capable of producing low ash, high crucible swelling number (CSN) coking coal
  • The final holes are still being analysed and results are expected in the next few weeks

Bowen Coking Coal has revealed the results from two more drill holes at its Isaac River Coking Coal Project in Queensland.

Six holes were completed in a drilling program this year, and today’s results are consistent with the raw coal quality results from the first two holes. The final holes are still being analysed and results are expected in the next few weeks.

Bowen said the new results reaffirm that the perviously untested Vermont Upper seam displays strong coking coal characteristics, capable of producing low ash, high crucible swelling number (CSN) coking coal.

Coking coal is a specific type of coal most suitable for making coke — a type of fuel made by heating the coal in the absence of air. Prime coking coal has a high CSN, meaning the results reported from Bowen’s drilling program so far are encouraging.

Bowen Managing Director Gerhard Redelinghuys said the company will not get ahead of itself, and will wait for the final results before moving onto the next stage of testing.

“The results received for these two holes are quite consistent with those of the initial two holes, reaffirming our expectation that the Isaac River project could also be capable of producing a good quality coking coal fraction,” Gerhard said.

The Isaac River project is located immediately each of BHP Mitsubishi Alliance’s Daunia Mine in the Bowen Basin. Along with Isaac River, Bowen Coking Coal also owns the Cooroorah, Hillalong and Comet Ridge coking coal project in the Bowen Basin area.

Bowen shares are down a slight 2 per cent today, trading for 4.2 cents each inside of a $29.66 market cap.

BCB by the numbers
More From The Market Herald

" Orcoda (ASX:ODA) celebrates positive cashflow and higher earnings

Orcoda (ODA) has experienced its fifth consecutive cashflow positive quarter for the three months ending September 30 2021.
DroneShield (ASX:DRO) - CEO, Oleg Vornik

" DroneShield (ASX:DRO) tables mixed results in September quarter

DroneShield (DRO) has tabled its September quarterly report and revealed a mixed bag of results.

" Roto-Gro (ASX:RGI) files three international patent applications

Roto-Gro International’s (RGI) subsidiary has filed three international applications under the patent cooperation treaty.

" GWA Group (ASX:GWA) completes extension of syndicated banking facility

GWA Group (GWA) has successfully extended its syndicated banking facility.