Exploration and Development of Canadian Steelmaking Coal
Hard Coking Coal
Alberta & British Columbia, Canada
Montem Resources Limited (ASX: MR1) is a steelmaking coal development company that owns assets in the Canadian provinces of Alberta and British Columbia. The company’s objective is to become the operator of steelmaking coal mines in Canada by developing its projects in the Crowsnest Pass.
The company is planning an integrated mining complex in the Crowsnest Pass, focusing on low cost development of open cut operations that leverage central infrastructure. The first component of this objective is to re-establish mining at the Tent Mountain Mine.
- Near Term Production: Tent Mountain Mine Definitive Feasibility Study completed; fast restart with first coal shipments planned for 2023, current price would produce EBITDA of >A$100M/yr
- Long Term Scale Upside: Potential to self fund the Chinook Project, targeting this world class open cut mine; potential for up to 5Mtpa
- Favourable Steelmaking Market Conditions: Historical 10 year average Hard Coking Coal price US$180/t; Current price above 10 year average
- Steelmaking Coal: Montem’s projects are high quality Hard Coking Coal
- Experienced Board and Management: Board and management team with significant coal industry experience