Name and Location
Mariola thermal coal project, Poland.

Client
Balamara Resources.

Project Description
A prefeasibility study (PFS) completed on the Mariola project has confirmed an exceptionally robust, long-life project capable of generating exceptional returns for Balamara shareholders.

This is based on the development of an underground mining operation, with average production of 2.7-million tonnes a year.

Net Present Value/Internal Rate of Return
The project has a post-tax net present value, at a 10.5% discount rate, of $313-million, and a post-tax internal rate of return of 214%.

Value
The project has an upfront capital development cost of A$100-million, including a 25% contingency.

Duration
The project is expected to be completed before the end of 2016.

Latest Developments
The results of the PFS have given Balamara sufficient confidence to progress to the definitive feasibility study.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Balmara Resources, tel +61 8 6365 4519, fax +61 8 9388 6040 or email enquiries@balamara.com.au.