Exploration Licence 4416 ('EL 4416') is an extensive licence in the Gippsland Basin of southeast Victoria that hosts a number of near-surface and deeper lignite (brown coal) deposits. According to an independent report by AMC Consultants, EL 4416 contains a JORC-compliant resource of around 16.4 billion tonnes of lignite, within three deposits: Gormondale, Gelliondale and Stradbroke (see table below).
IER commands a distinct infrastructure advantage over other neighbouring tenements, holding the exploration licence to the closest tenements to the coast in the Gippsland Basin. An internal logistics study has identified Barry Point as a potential bulk export point for IER's products. The Company’s second largest lignite deposit, Gelliondale, is located approximately 10km North East of Barry Point; near to existing export infrastructure placing IER at a potentially significant future cost advantage for export to the existing open mines.
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Ignite Energy Resources Limited ('IER') is an Australian-based company focused on developing Exploration Licence 4416 ('EL 4416') and Exploration Licence Application 4968 ('ELA 4968'). EL 4416 contains extensive biogenic natural gas (BNG) and lignite (brown coal) resources, while both EL 4416 and EL 4968 are prospective for world-class heavy mineral sands deposits.