New Coking Coal Company on ASX

Cabral Resources Ltd (ASX:CBS) (to be renamed Bowen Coking Coal Ltd), on acquisition of BCC, will be a coking coal exploration and development company with advanced assets in the Bowen Basin of Queensland, which contains the highest quality coking coal in the world.

CBS represents an opportunity to invest at a time of supply tightness causing growth in Premium Hard Coking prices (FOB Aus) to US$194/tonne, an increase of US$44/tonne or 29% over one month.

Visit CBS website to view full prospectus

On completion, CBS will hold an interest in the following projects in Queensland:

•Comet Ridge (100%)

•Cooroorah (100%)

•Mount Hillalong (100%)

•Lilyvale (15%)

•Mackenzie (5%)

Strategy

CBS’ focus will be to develop its projects towards production behind an aggressive exploration program, including:

• Further drilling at Cooroorah (125Mt JORC Resource – 70Mt Indicated and 55Mt Inferred) to analyse the coal quality and shallower Aries and Castor seams

• Commence work on the pre-feasibility study for Comet Ridge (57Mt JORC Resource – 8Mt Measured, 9Mt Indicated and 40Mt Inferred)

CBS will also consider acquiring further complementary coking coal assets in the world-class Bowen Basin