Colonial Coal International Corp.

Description

Colonial Coal International Corp. is a junior mineral mining and exploration company in the steel industry. Colonial Coal International Corporation was founded in 2007 according to the Canadian laws of British Columbia Province.

Colonial Coal International Corp. is a publicly listed company on the TSX Venture Exchange, with its common shares trading under the ticker symbol CAD. The Vancouver-based coal company is involved in the acquisition, exploration, and development of pure-play coking coal assets along the Peace River Coalfield in northeastern British Columbia.

The metallurgical coal developer operates three coal properties:

The Huguenot Coal Project consists of an open-pit mine situated nearly 140 kilometers from Quintette. The project includes a block of 13 coal licenses and two license applications spanning a total land area of approximately 7,592 hectares. The property is classified into three blocks:

• The North Block with 103.8 million tons (mt) of total measured and indicated resources and 86.8 million tons of inferred resources from surface and underground operations.

• The Middle Block with 78.1 million tons (mt) of total measured and indicated resources and 2.1 million tons of inferred resources from surface and underground operations.

• The South Block with 95.8 million tons (mt) of total measured and indicated resources and 30.2 million tons of inferred resources from surface and underground operations.

The Flatbed Coal Project lies in the Gordon Greek Deposit Area within the Peace River Coalfield. The project lies in proximity to the Trend Mine (by Anglo American) and Window Proposed Mine (by Teck). The project is fully equipped with a rail line, road connectivity, and power supply. Colonial Coal International Corp. (CCIC) owns a 100 per cent stake in the property.

The Flatbed Property includes a bulk tonnage mine of metallurgical coal resources with more than a 100-million-ton coking coal prospect. The project includes seven coal licenses spread over a total area of 9,077 hectares and three leftover coal license applications covering a total area of 2,400 hectares, including three new discoveries.

Skeena Cellulose Mill operated Watson Island Coal Project till 2001. Watson Island Development Corp., a subsidiary company of CCIC, in 2012, signed a Memorandum of Association with Coast Tsimshian Nation to create a joint venture to acquire the project.

The Watson Island project is equipped with a multi-commodity port to export products in bulk quantities. Later, the subsidiary entered into an exclusive agreement with the City of Prince Rupert to buy the property and is currently in the litigation process. The company is working with the City of Prince Rupert to develop an environmental remediation plan and then complete the acquisition of the property.