Aviemore Expansion Project

A scoping study was recently completed on the Aviemore anthracite reserve to investigate alternative extraction and expansion options.  A total of 64 scenarios or option combinations were investigated.  These options were developed on the basis of access position and shaft configuration, mining method, production rates, processing plant options and siding configurations.  The results of the study proved to be positive and a business case could be proven for the majority of options investigated. Based on the favourable financial valuation results and the potential operational alternatives identified in the scoping study, it was recommended that a pre-feasibility study be initiated.

Technical Reports
All technical information reported by Buffalo Coal is based on a National Instrument 43-101 technical report prepared by Minxcon entitled “An Independent Qualified Persons’ Report on FC Dundee Operations in the KwaZulu-Natal Province, South Africa” with an effective date of October 1, 2012, and an issue date of March 6, 2013, authored by Charles J. Muller, Daniel van Heerden and Johan Odendaal, each of whom is independent of FMC and a qualified person under NI 43-101.

External Documents: NI 43-101