Kodiak Mining has signed a low cost option to acquire Upper Thompson coal seam as well as a low cost coal lease agreement on Gholson and Clarke coal seams, both within the Gurnee Property.
Additionally, the acquisitions are expected to provide additional production to planned 2Mtpa starter operation for Attila from the Coke and Atkins seams at Gurnee Property.
Attila executive director Evan Cranston said that the acquisitions mark a significant milestone for Attila as it progresses towards production as well as provide critical access to coal seams in adjacent properties, previously considered sterilised.
"Attila is progressing discussions with other lease holders in the area with a view to further expanding its footprint and increasing its share of the 500Mt of coal estimated to remain in the basin," Cranston added.
"More importantly, the Company now has access to all of the major hard coking coal seams in the Cahaba basin." Cranston continued.
