Tenements and resources

Tenure

The Foxleigh resource area is comprised of seven Mining Leases, a Mineral Development License (MDL), and two Exploration Permits for Coal (EPC). Details of these tenures are in Table 1 below.

No application for tenure renewal on existing leases is required until 2034.

Table 1: Tenure detailsSource: Statement of Coal Resources and Reserves Estimate Report for Middlemount South Pty Ltd (Foxleigh Project) in accordance with the JORC Code 2012. JORC Report MG676_Report-001 dated May 2021 prepared by Measured Group Pty Ltd.

Tenure location

The location of all mining and exploration tenures for the Foxleigh Project are shown in Figure 1, along with the extents coal resource areas.

Figure 1: Foxleigh mine tenure location

Neighbouring operations

The Foxleigh project is adjacent to the western boundary of Anglo American's Capcoal operation. Figure 2 illustrates the location of the Foxleigh Project with respect to the surrounding mining operations.

Figure 2: Neighbouring operations

Targeted Rangal coal measures

The Foxleigh Project is focused on the Rangal Coal Measures which comprise a 200m thick sedimentary sequence of siltstone, fine-grained sandstone and mudstone containing several economically significant coal seams. Figure 3 illustrates the seams targeted by the mine are locally known (in descending order) as the Roper, Middlemount, Tralee and Pisces Seams.

Figure 3: Targeted Rangal coal Measures

Resource estimate as at 30 November 2020

The resources estimate has been completed on a first principles basis in accordance with the JORC Code, (2012).

Table 2 below discloses the total Coal Resources (inclusive of Coal Reserves) estimate of 335 Mt as at 30 November 2020.

Table 2: Summary of Coal Resources as at 30 November 2020Source: Statement of Coal Resources and Reserves Estimate for Middlemount South Pty Ltd (Foxleigh Project) in accordance with te JORC Code 2012. JORC Report MG676_Report-001 dated May 2021 prepared by Measured Group Pty Ltd.