Menzhinsky
The technical information on this page has been reviewed and approved by Colin Stocks, a Qualified Person as defined by National Instrument 43-101, who is the Technical Director of the CompanyMenzhinsky Project Summary
Key project indicators for the Menzhinsky mine, per the NI 43-101 compliant technical report titled "Amended Technical Report of the Menzhinsky Coal Mine, Lugansk Oblast, Ukraine" (the "Menzhinsky Mine Technical Report") dated May 9, 2012 with an effective date of May 9, 2012 prepared for the Company by Robin Dean, HND, FloMMM, C Eng, Paul Norman, B. Sc., FloMMM, C Eng, FGS, C Geol and Andy Birtles, B.Sc., MIoMMM, C Eng, MSAIMM, Pr Eng for Wardell Armstrong International Ltd. of the United Kingdom. Each of the Menzhinsky Mine Technical Report authors is a qualified person under NI 43 101, are as follows:
| Seam | Coal Resources Mt |
Proved Coal Reserves 000t |
Probable Coal Reserves 000t |
Total Coal Reserves 000t |
|---|---|---|---|---|
| l8H | 11.7 | 1,332 | 860 | 2,192 |
| l6 | 14.3 | 1,720 | 3,059 | 4,779 |
| l4 | 14.8 | 1,260 | 2,081 | 3,341 |
| Total | 40.8 | 4,312 | 6,000 | 10,312 |
| Key Indicators | Unit | Value |
|---|---|---|
| Discount rate | % | 10 |
| Period | 2012-2024 | |
| Operational NPV | UAH million | 1,979 |
| Exchange rate | UAH:USD | 8 |
| Operational NPV | USD million | 247 |
| Positive cash flow | Year | 2014 |
Technical Reports