Coalspur Mines Ltd ("Coalspur" or "Company") is a coal exploration and development company with approximately 55,000 hectares of coal exploration leases located within the Hinton region of Alberta, Canada. Coalspur’s flagship coal project is the Vista Coal Project which has the potential to be one of the largest export thermal coal mines in North America.
Coalspur has offices in Calgary and Hinton in Canada as well as in Australia. The Company’s goal is to develop a major new thermal export coal region in Alberta to meet growing energy demands worldwide and in particular of the insatiable Asia Pacific market. The Company is dual listed on the Toronto Stock Exchange (“TSX”) under the symbol "CPT" and on the Australian Securities Exchange ("ASX") under the symbol "CPL".
The Vista Coal Project covers approximately 10,000 hectares and contains over 20km of continuous gently dipping strike length and a Measured and Indicated Coal Resource base of over 985 million tonnes of low sulphur, high volatile bituminous, export quality thermal coal. The Company’s recently completed Bankable Feasibility Study (“BFS”) defined an initial marketable reserve of over 313 million tonnes on the Vista Coal Project which makes it one of the largest undeveloped export orientated thermal coal projects in North America.
The BFS was undertaken by Snowden Mining Industry Consultants Inc. and a number of internationally recognized coal industry engineering firms. The BFS defined a 30 year mine life producing approximately 11.2 million tonnes per annum (“Mtpa”) of saleable coal from the processing of approximately 20.4Mtpa of run of mine (“ROM”) coal.
Vista is able to leverage off established first world infrastructure, with CN Rail’s main line located adjacent to Vista which is substantially underutilised and provides a rail line suitable for the transport of coal to deepwater ports on Canada’s west coast. Coalspur has also secured a port allocation agreement with Ridley Terminals which is essential to the logics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific Rim countries, including China, Japan, and Korea. This port allocation agreement entitles Coalspur up to 8.5Mpta of port allocation for up to 21 years.
In addition the Company holds leases directly south of Vista in the Vista South Coal Project (“Vista South”). Vista South covers approximately 23,300 hectares extends for over 25km which the company believes has the potential to host a significant coal resource. Coalspur also owns approximately 7,300 hectares of coal leases approximately 10km northwest of Vista which lies on same geological trend as Vista and the Company believes contains significant coal mineralization.