Bandanna increases project prediction

ON Monday Bandanna Energy announced a significant increase to the indicated resource at its controversial Springsure Creek underground project in the Golden Triangle.

Bandanna raised the indicated resources of the proposed project by 79.3% to 129.5 million tonnes, equating to a 15.5% rise to the total resources.

The new total sits at 374.5 million tonnes, with the other 245 million being inferred resources.

“This resource increase highlights the quality asset that our Springsure Creek Project clearly represents,” Bandanna managing director Dr Ray Shaw said.

Mr Shaw said the resource increase will form the basis for a corresponding review of Bandanna’s reserve inventory and potential mine development plans.

The last resource statement was issued in October 2010, and this latest comes after the company completed further drilling at the site - an area within the government’s Strategic Cropping Land Central Queensland protection zone.

A company spokesman said the resource upgrade comes despite extended periods of wet weather and poor ground conditions which severely hampered drilling on the project.

Last week, Sam and Lizzy Bradford hosted LNP leader Campbell Newman, and close to 90 other concerned residents who wish to fight the Springsure Creek project, on their property Arcturus Downs - the site on which the proposed mine sits.

Last week, Bandanna Energy formally applied for a mining lease at its Dingo-west project, another Bowen Basin coal development.

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