11th June 2015
Breaking News: Ignite Resources granted retention licence for Gelliondale lignite deposit on EL 4416
I am happy to announce that the Victorian government last week granted an eight year retention licence, RL2013, for the Gelliondale lignite resource. The retention licence marks the achievement of a major milestone towards realising the potential value of the Gelliondale lignite resource with our Cat-HTR technology.
Gelliondale is one of three major lignite deposits Ignite Resources hold the exploration rights over in the Gippsland region of Victoria, under exploration licence EL4416. Its coastal location is unique being within 20km of local port facilities. This makes Gelliondale an attractive location for a future mine, given the export potential via the existing port infrastructure.
Moving towards our own lignite mine supports the creation of new jobs within Victoria and royalty income for the government, both underlying principles of the Advanced Lignite Demonstration Program (ALDP).
As a follow-on project from the ALDP, the Gelliondale Energy Project supports Ignite Energy Resource’s long-term commercial expansion plans.
The granting of retention licence RL2013 allows us to begin completing feasibility, environmental, exploration and community consultation activities to assess the location, size or format of any future mine in the Gelliondale area. Should these studies indicate the feasibility of a mining operation within RL2013, the next steps are to obtain a mining licence from the Victorian government.
Dr Len Humphreys
Chief Executive Officer
Ignite Energy Limited