Rocklands Richfield (RCI)

Shares / Stock Code

RCI

Stock Exchange / Sharemarket

Australian Securities Exchange

Rocklands Richfield (RCI) is involved in general financial activities, including acquisition in the resources and property areas. This largely includes investing in coal companies. Rocklands Richfield currently has a holding in the coal-rich Bowen basin, Queensland. Company listed on Australian Stock Market (ASX) on 1 November, 2000.

The company change its name (and its operations) from Australian Visual Communications, to Rocklands Richfield in early 2005. In November 2004, the company entered into an agreement to acquire 60% working interest in HLM Coal Australia, and obtained one tenement in the Bowen basin. In April, 2005 Rocklands received formal grant over a second tenement in this area.

Rocklands Richfield's has two main differentiating factor: firstly, is its geological and mining team, which it is using to expand the company's interest in the coal rich Queensland Bowen Basin, and secondly Rocklands Richfield's Asian connectivity which will enable it to establish possible Asian partnering relationships and joint ventures.

Rocklands Richfield's main competitors include other coal exploration and mining companies, especially those involved with high quality coking coal. Potential customers (once the company moves out of the exploration stage) include steel makers (who require high quality coking coal), mostly across Asia including China, Japan and Korea.

The 480,000 tons per annum coking plant is located in Huaibei in Anhui Province in eastern China and is operated by CCS’s wholly owned subsidiary, Chang Yuan (Huaibei) Chemicals & Coking Co. Ltd (CYCC). The Company holds tenements over three prospective coalfields in Queensland’s Bowen Basin.

ROCKLANDS PROJECT - EPC890

The Company owns a majority share (60%) in HLM Coal Australia Pty Ltd which holds a 100% ownership of EPC 890, a 150 square kilometre exploration permit in the central part of the Bowen Basin, 20 kilometres south of Blackwater and 200 Kilometres west of Rockhampton. The EPC contains substantial coal deposits in the vicinity of the giant Blackwater Mine and Cook Colliery but delineation and quantum have yet to be confirmed by intensive drilling.

Recent drilling undertaken by the company in 2007 indicate that a targeted section of the lease to the south western of the deposit contains relatively shallow coal with measured, indicated and inferred resources of approximately 380 million tonnes. The latest Exploration Report for EPC890 in Oct 2008 stated the total inferred resources are 880 million tonnes. Such seams have the potential to be mined by underground methodologies including longwall mining.

In general the laboratory results indicate that the coal is high volatile bituminous with soft to semisoft coking properties. Aries, Argo and Pisces seams give high yielding, low ash, low sulphur washed products with Argo and Pisces having very good caking properties, Aries II intermediate caking properties and Aries I poor caking properties. Aries and Pisces also have < 0.05% phosphorus washed. Castor has substantially lower yield and higher ash with low sulfur and phosphorus and marginal caking properties.

The company intends to continue its exploration program on the Rocklands project to increase the indicated and measured status of coal content through an intensive drilling program targeting the shallower coal to JORC status. In conjunction it is envisaged that a feasibility and initial mine planning and research work associated with the establishment of large scale underground mining will be undertaken.

Rocklands Richfield (RCI) Products and Services

  • Rocklands Richfield.

Rocklands Richfield (RCI) Locations and Subsidiaries

Rocklands Richfield Head Office
C/- Duncan McPhail & Co Pty Ltd, Certified Practicing Accountants,
15 Lyall Street, SOUTH PERTH, WA, AUSTRALIA, 6151
Phone: (08) 9367 7511
Fax: (08) 9367 5131

Rocklands Richfield (RCI) Share Price

Submitted by ASX Listed Company on 28 May, 2010 - 22:04

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