Bathurst Resources has started work at its West Coast
escarpment but Craigs Investment Partners broker Peter McIntyre
said the announcement yesterday meant very little in the big
scheme of things.
''Bathurst has always said it would maintain minimum staff
levels there, waiting for coking coal prices to increase.
"I would describe this as chipping away at the edges. There
is no production except for the contracts already in place.''
The shares were unchanged at 4.6c, Mr McIntyre said.
Bathurst's managing director, Hamish Bohannan, said in a
statement a small team of men was engaged full-time on the
Fences and signage had been erected and current activities
were clearing areas for coal storage and site infrastructure
and initial earthworks for the installation of water
In the coming months, the company would carry out further
preliminary site works at the escarpment but would defer the
full development of the mine site until international coking
coal prices improved.
''Our initial activities at [the] escarpment will be low key
during the first phase of development.
"The intention is to prepare the site to a point where we can
quickly ramp up to a steady state of mining when the price of
export coking coal recovers,'' Mr Bohannan said.