Universal Coal releases December quarter results, highlights coking coal project progress February 1, 2012

Universal Coal Plc (ASZ: UNV) has released the following activities and cashflow reports for the quarter ending in 31 December 2011.

Highlights:

• DRA Mining (Pty) Ltd was appointed in early October 2011 to complete a scoping study for the Berenice/Cygnus project. The scoping study is expected to be completed by the end of the Q1 2012.
• Analyses of the core samples from the twinned large diameter drill holes taken from Berenice/Cygnus project were received. The analyses demonstrated that the coal can be classed as a high volatile, soft coking coal with good caking properties, high vitrinite content and very high maximum fluidity.
• Optimisation of the Kangala project BFS was ongoing with Universal Coal currently finalising a MoU with Eskom for off-take from this project. The additional drilling to upgrade the remaining Kangala resource base outside the planned mining area has been completed with some analyses currently still outstanding.
• The feasibility study for the Roodekop project which was commenced during the September 2011 quarter is ongoing.
• Geological consultants GEMECS completed the resource modelling from the final phase of drilling at the Brakfontein project, with a mining right application having been lodged during the Quarter.

Universal Coal continues to evaluate a number of business and corporate opportunities including potential asset acquisitions and informal approaches from strategic investors in the steel and power generation sectors.

Click here to view the announcement

Click here to view the appendix

For further information, please contact:

Fortbridge: +61 2 9003 0477
Bill Kemmery +61 4 0012 2449 (Sydney)
Matt Beale +44 79 6638 9196 (London)