Barging has a lower environmental impact than the originally envisioned use of haul trucks, since the hydrocarbon fuel consumption is well below that of road-based solutions utilizing haul trucks. In addition, there are other advantages over traditional trucking, including capital and operating cost reductions as well as improved safety.
To view Figure 1, visit the following link: http://media3.marketwire.com/docs/CDU_NR1308_Figure1.jpg
About Conifex Timber Inc.
Conifex is a publicly listed softwood forest products company operating in the Northern Interior region of British Columbia whose primary business is the manufacture of structural grade SPF dimension lumber. Conifex's lumber products are sold in the United States, Chinese, Canadian and Japanese markets. Upon completion of its bioenergy facility at Mackenzie, British Columbia, Conifex's business sectors will be expanded to include bioenergy.
About Navcor Inc.
Conifex's transportation company, Navcor, provides end-to-end transportation management services for customers across the forestry, mining, construction, and oil and gas industries. Their services include strategy, procurement, facility management, and transactional freight execution. As an active shipper, customer, and supplier on a number of projects with CN Rail, Navcor is well suited to assist in the development of the proposed Cardero Coal Transload Facility on Conifex property in Mackenzie, BC.
About Carbon Creek
The Carbon Creek Metallurgical Coal Deposit is the Company's flagship asset. Carbon Creek is an advanced metallurgical coal development project located in the Peace River Coal District of northeast British Columbia, Canada. The project has a current reserve of 121 million tonnes, included within a 468 million tonne measured and indicated resource, of ASTM Coal Rank mvB coal. Mineral resources are not mineral reserves and there is no assurance that any of the additional mineral resources that are not already classified as reserves will ultimately be reclassified as proven or probable reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. Having completed acquisition of the project in June 2011, the Company released results of an independent preliminary economic assessment in December 2011, followed by a Prefeasibility Study ("PFS") in September 2012. The PFS estimates an undiscounted cash flow of $2.2 billion, an NPV8 of $633 million, and an IRR of 24% (all on a post-tax, 75% basis). The Company is currently undertaking a bankable feasibility study on the project.
For details with respect to the work done to date and the assumptions underlying the current resource and reserve estimates and prefeasibility study, see the technical report entitled "Technical Report, Prefeasibility Study of the Carbon Creek Coal Property, British Columbia, Canada" dated November 6, 2012 with an effective date of September 20, 2012 and available under the Company's profile at www.sedar.com.
EurGeol Keith Henderson, PGeo, Cardero's Executive Vice President and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis of this news release, and has approved the disclosure herein. Mr. Henderson is not independent of the Company, as he is an officer and shareholder.
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