Resource Statements

Malabar engaged McElroy Bryan Geological Services Pty Ltd (MBGS) to update the coal resource estimation for our Maxwell Underground, Maxwell West, and Maxwell North projects. They cover seven tenements ML1822, ML1593,  ML1358 (post transaction area) EL9497, EL9498, EL7429, and EL9827.  So, consolidating all of Malabar’s tenements into one report for the first time.  The estimate is informed by c. 2,400 drill holes plus geophysical data.

Coal resources total approximately 2,300 Mt to depths of 500 m, and are classified as Measured (600 Mt), Indicated (1,000 Mt), and Inferred (700 Mt).

Measured and Indicated resources comprise approximately 70% of the total coal resource.

Coal resources are expected to produce a split of export thermal and coking coal after beneficiation.

Depth (m) Resources (Mt)
Measured Indicated Measured + Indicated Inferred Total
0 – 100 153.5 108.6 262.1 72.6 334.7
100 – 200 142.3 354.6 496.9 123.6 620.5
200 – 300 112.3 194.7 307 146.6 453.6
300 – 400 143.3 194.4 337.7 188.0 525.7
400 – 500 50.6 143.9 194.5 191.5 386
Total 602 996.2 1598.2 722.3 2320.5
Total (rounded) 600 1000 1600 700 2300

Tenements