Bathurst Resources - BRL

[Newman]

At the Crossroads in Coaltown - The Westport Story part 1
Wednesday, 31 July 2013, 12:04 pm
Article: The Westport Story told by Scoop
http://www.scoop.co.nz/stories/HL130...ory-part-1.htm

Does this suggest that Bathurst has a long way to go before obtaining environmental consents or very close to getting what it wants?

[blackcap]

I see in an announcement today that Forest and Bird are applying to appeal to the Court of Appeal. SO the High court said no and now they go to the next court. Thats ok, that is their right. But does anyone know who funds Forest and Bird?

[Newman]

I see in an announcement today that Forest and Bird are applying to appeal to the Court of Appeal. SO the High court said no and now they go to the next court. Thats ok, that is their right. But does anyone know who funds Forest and Bird?

A desperate effort by Forest and Bird. A leadership change would be required after it loses final battles. What its legal bills would be?

The real concern on Bathurst is the current low coking coal price (around US$150/ton), not the futile actions of Forest and Bird.

[macduffy]

Given the continuous delays being experienced in getting started, I don't think the current price is the problem so much as what the price may be in 2-3 years' time!

[blackcap]

Out this morning... will be interesting to see if it does anything to the SP.

Positive Environment Court Decision announced for Bathurst
Bathurst Resources (NZ) Limited (‘Bathurst’ NZX/ASX: BRL) is pleased to announce the Environment Court has
issued a decision advising that “consent is indicated for the Escarpment Mine Project, subject to final minor
drafting on conditions of consent.”
The Court has requested further minor amendments to a limited number of the proposed consent conditions.
We consider that these amendments will not be difficult to address (the amendments mainly relate to the
wording of the conditions addressing rehabilitation and the requirements in respect of the proposed
‘Denniston Permanent Protection Area’ (“DPPA”)). The Company is required to use “best endeavors” to
achieve an appropriate protection mechanism for this area. The Court has expressed a preference for the local
councils to be the suitable body to certify this has been the case.
Bathurst Managing Director, Hamish Bohannan, said “We are delighted with this positive decision. The Court
has made it clear that consent will be forthcoming. The Court has also acknowledged the urgency of the
matter by requesting that parties provide a prompt response on conditions (within ten working days). We
expect to receive consents as soon as the court has had time to consider that further information. “
Once consent is granted, Bathurst can move into the first stages of operations.

[Newman]

Out this morning... will be interesting to see if it does anything to the SP.

Positive Environment Court Decision announced for Bathurst
.... The Court has expressed a preference for the local
councils to be the suitable body to certify this has been the case.
Bathurst Managing Director, Hamish Bohannan, said “We are delighted with this positive decision. The Court
has made it clear that consent will be forthcoming. The Court has also acknowledged the urgency of the
matter by requesting that parties provide a prompt response on conditions (within ten working days). We
expect to receive consents as soon as the court has had time to consider that further information. “
Once consent is granted, Bathurst can move into the first stages of operations.

This is by no mean a good news, and the judge is kicking the ball to another agency rather than doing his job.

[blackcap]

This is by no mean a good news, and the judge is kicking the ball to another agency rather than doing his job.

Hi Newman, it does look that way. Does this imply then that the MD is lying?

I see this announcement has already hit the stuff.co.nz site. To get the project up and running will require a lot of capital as well I think. Does anyone know if this means that they (BRL) will need to do a capital raising?

[Brain]

A couple of links which may be of interest.

http://www.youtube.com/watch?feature...&v=-abAnXuwmQY

http://www.youtube.com/watch?feature...&v=DOkx7FgXbiE

[benjitara]

Thanks Brain
Interesting numbers in these videos. Looks to me as if the total reserves for Escarpment alone could support a share price of around 20-22 cents. I've used some pretty crude numbers. static sale price over life of mine 5-6 years being 160USD a tonne (coking coal) standard costs being 120USD plus capital expenditure on conveyor and washplant being 30 million per annum. leaving earnings per share of 2 cents approx. p/eps at 10 being 20c. These of course are absolutely loose figures and we've seen delays and spiralling costs... Overall they're looking like their walking on a thread of silk across the pit themselves! I see the Canterbury acquisition looks very small and thermal in nature so not much of a positive there. lets hope world prices ramp up a little and the Chinese get a bit of "steel fever" soon to give the coasters a chance.

[clifton]

Trading halt and capital raising underway.