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  • Aspire Mining Substantial Shareholder Noble Group Lodges Notice 0 comments
    Feb 21, 2013 5:34 PM

    Coking coal developer Aspire Mining (ASX:AKM) has received a change of substantial shareholder interests from Noble Group of companies.

    As part of a 35 million share placement of Aspire Mining shares completed in January 2013, Noble Group increased its interests in Aspire to 97,680,052 shares or 14.9 per cent of the issued capital of the company.

    Previous interest held by Noble Group was 62,680,052 or 10.1 per cent of the voting shares of Aspire.

    Testwork confirms Ovoot as a high quality blending coking coal

    Recently completed initial pilot coke tests by Aspire using coal indicative of what will be produced at Aspire's Ovoot project in Mongolia confirmed the coal as a high quality blending coking coal.

    "We are pleased with the initial coal quality indications for our Ovoot coking coal. This work has confirmed the attractiveness of adding Ovoot coking coal into coke blends.

    This is an important step which will now allow Aspire to progress commercialisation negotiations for future sales and funding," said Aspire's Managing Director, Mr David Paull.

    Coke testwork using various blends was conducted including Australian hard coking coal, Australian low volatile, semi-soft coking coal coke breeze.

    The test results show that Ovoot coking coal can be used to replace hard coking coal in a batch when using low quality semi-soft coking coal.

    Ovoot project coking coal has extremely high vitrinite content, which provides the coal with high fluidity and plastic properties and one of the highest Gray King Coke types available in the market.

    This attribute indicates a superior blend carrying capacity and when combined with its relatively high rank it means coke producers can use the Ovoot product in blends with hard coking coal and weak caking coals to produce quality coke.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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