The Project is situated in the Bowen Basin coal field, Central Queensland, 170 kilometres (km) west of Rockhampton, and 100 km to the east of Emerald.

about WALTON project

Walton is well explored with a combination of drilling and seismic programs over the resource. A JORC Resource (2012) has been defined of 21Mt measured and indicated resource.

A concept study was completed in 2015, proposing a small open cut mine utilizing truck and shovel operations producing 1.6Mtpa of low volatile PCI coal over a relatively short 10-year mine life. The coal would be washed on site at a beneficiation plant prior to being transported to Gladstone via the Blackwater Rail system which crosses the lease. The distance between the Project and the port is approximately 280km.

In 2017, a Prefeasibility Study ("PFS") was completed based on a small-scale open cut mine producing ~1.6Mtpa of low volatile PCI coal over a 8-year mine life, with capital costs developed to a PFS level of accuracy for the surface, CHPP and rail infrastructure. The PFS targeted a 10% ash product with an overall yield of 78% and a 40% bypass of ROM coal direct to product.