26 Oct 2011

Bathurst boosts Buller coal estimates by third

7:03 am on 26 October 2011

Bathurst Resources has increased its estimates of recoverable reserves at its Buller coal project by at least a third.

The Perth-based listed company says it has identified more material at the escarpment block, and at the maiden reserve at the nearby Whareatea west block, both of which still require resource consents.

Bathurst's goal of developing the escarpment coal mine project in Buller is facing snags, with three appeals of a decision by independent commissioners to approve the plan in August.

The 37% increase in reserves takes Bathurst's recoverable reserves to more than 17 million tonnes.

Shares in Bathurst Resources were unchanged at 95 cents on Tuesday.