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Morien Begins Operations at Washplant at Donkin Coal Mine, Nova Scotia

Published: September 20, 2017 |

[Click image to enlarge]

Morien Resources Corp. has received notice from Kameron Collieries ULC, the owner/operator of the Donkin Coal Mine in Cape Breton, Nova Scotia, that its coal handling, preparation and processing plant is now operational.

The capacity of the washplant is sufficient to process the permitted production at Donkin. Processed Donkin coal product can be sold either as a low ash, high-energy thermal coal and/or as a high quality metallurgical coal. Kameron has indicated that it expects the washed coal quality of Donkin to be a high fluidity, high volatile metallurgical coal, with 3.0% ash, approximately 1.65 percent sulphur, 13,500+ BTU/lb, 0.88% RO, +25,000 ddpm fluidity, and 120-150 dilation.

Kameron is targeting production of approximately 350,000 to 450,000 tonnes in 2017, 1.2 to 1.8 million tonnes in 2018, and 2.6 to 2.75 million tonnes of saleable coal in 2019 (production volumes are subject to change based on numerous market and non-market factors). Current coal production is being stockpiled on site, and trucked and stockpiled at the Provincial Energy Ventures port in Sydney, Cape Breton where it awaits export.

MORIEN ROYALTY AND MILESTONE PAYMENT

Morien owns a gross production royalty of 2 percent on the first 500,000 tonnes of coal sales per calendar quarter (excluding the initial 10,000 tonnes of coal produced and sold from Donkin) and 4 percent on any coal sales from quarterly tonnage above 500,000 tonnes (Royalty). The royalty is payable to Morien on a quarterly basis over the anticipated 30 plus year mine life.

Morien is entitled to receive its third and final milestone payment of $1.5 million from Kameron on the earlier of first commercial sale of export coal from Donkin and the third anniversary of the closing of the transaction (February 27, 2018).


About Morien
Morien is a Canadian mining exploration and development company, focused on unique mineral industry opportunities in North America with two long-life royalty assets and a strong cash position.

To stop by Morien’s website, CLICK HERE


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