Relinquishment report for EL 29239 Pedirka Basin Project Exploration for Thermal Coal for the year 4 January 2016 to 3 January 2017

Abstract

Mineral Exploration Licence (EL) 29239 was granted to Ebony Iron Limited on January 4, 2013 for a term of 6 years. EL 29237 was granted at the same time. These two EL's are the southern tenements of the Pedirka Basin Project. The tenement was transferred to Ebony Coal Ltd on March 26, 2013 and subsequently transferred to Pedirka Basin Pty Ltd (a fully owned subsidiary of Ebony Energy Ltd) on 30 April 2015. EL 29239 is located about 180 km southeast of Alice Springs. This tenement was comprised of 202 sub-blocks that covered an area of 604.22 square kilometres. EL 29239 adjoins the northern boundary of EL 29237. Following an assessment of the economics of extracting coal across the tenements, the blocks identified in Figure 1 (in purple) have been relinquished as not warranting further exploration - a reduction of 96 sub-blocks. On 17 January 2017, the company's was advised by the Department of Primary Industry and Resources of acceptance of the reduction in the tenement region. No specific activities were undertaken in the specific region of the relinquished sub-blocks.