Celsius Resources Limited (“Celsius”) is an Australian company (ASX: CLA) that has a clear focus on developing resource (coal and niquel) projects.
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Celsius Coal has a portfolio of quality thermal and coking coal prospects in Kyrgyzstan with near term production potential. Previous exploration across the Uzgen Basin prospects supports a 500-700Mt exploration target which will be tested as part of an upcoming drill campaign. An additional 20-50Mt exploration target exists at the Alai Range prospects. Near term news flow as drilling results are released provides an opportunity for a market re-rating.
Celsius Coal (formally View Resources) is an Australian based coal exploration company with a majority interest in significant coal assets in two prospective regions of Kyrgyzstan.
The Uzgen Basin project (80% interest) consists of four key prospects within three tenements, two of which are contiguous. Extensive, albeit limited, exploration was undertaken during the Soviet era and forms the basis of a 500-700Mt coal exploration target. Celsius is about to embark on a +5,000m drilling program aimed at testing the integrity of the historical data and to define a JORC resource at each of the prospects. Historical test work of samples from outcropping coal seams indicates the potential for both quality thermal coal and coking coal products. An existing mining licence at one of the prospects provides an opportunity for early production.
The Alai Range project (90% interest) consists of two prospects, both of which host significant shallow coal seams. Test work on samples indicates the potential for a high calorific thermal coal product to be mined at both sites. One of the prospects (Sary Mogal) sits within a granted mining licence where recent small scale open pit mining took place. Celsius has indicated early start- up of production may be possible, providing an opportunity for early cash flow.
On the 18th June, 2012, Celsius Coal (Celsius) announced that it had entered in to a conditional scrip based agreement (subject to shareholder approval)...
Official website: http://www.celsiusresources.com.au/
ASX on Hotcooper: http://hotcopper.com.au/asx/CLA