Bowen Basin Projects

Cockatoo Coal’s Bowen Basin projects extend from Dingo project in the north to the Baralaba South project in the south, across approximately 92 kilometres of strike length, in an area located approximately 180km west of Gladstone, in central Queensland. Permian age Rangal Coal Measures sub-crop throughout the project package, offering 550km2 of contiguous target areas.

Bowen Basin Resources

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Baralaba Mine/ Baralaba North

During the quarter, the Company continued exploration and development drilling activities at its Bowen Basin projects at full capacity.

Exploration activities are currently underway at the Baralaba North project area, moving toward the necessary knowledge base for mine planning to occur. Cockatoo envisages future production from the Baralaba Mine, Baralaba North and Baralaba South projects areas, subject to rail and port upgrades, as a key step in the realisation of the Company’s strategic goals.

*As at September 30 2011 and reduced by subsequent production.

The increased and upgraded JORC Resources demonstrates the Company’s increasing confidence in the viability of the Baralaba Expansion. The newly defined Measured and Indicated JORC Resources will directly contribute to additional Marketable Reserves following mine planning evaluation of the results.