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TIG provides update on Amaam North operations

Published by
World Coal,

Tiger’s Realm Coal (ASX:TIG) has reported on activities undertaken at its coal projects in far eastern Russia during the quarter ended March 2017.

TIG’s primary activities focus on Project F at Amaam North, where the first full quarter of coal mining and transportation to the TIG Port at Beringovsky was completed.

1Q17 results

  • Coal mines: 92 400 t.
  • Coal transported to Port 79 100 t
  • Waste mined 243.8 m3

During the quarter, coal production and waste mining volumes improved progressively. March production of 35000 t of coal delivered to Port was a 48% improvement over February, which in turn was a 10% improvement over January.

Project F’s first quarter of production has confirmed the project’s coal qualities and provide key learnings that will be applied to enhanced future operational efficiency and performance.

Coal sales

TIG has entered into a formal Sales Agency Agreement which will cover certain markets in Japan and the far East for metallurgical and thermal coals.

Initial sales have commences with the first cargo of coal for summer season transshipment close to being contracted, and more firm offers for coal production under discussion.

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