Moreton Resources has enough coal at its Kingaroy project for a 30-year mine.
The announcement to the Australia Stock Exchange today of the results of the mine concept study, revealed there was enough coal at sufficient quality 10km south of Kingaroy for a 30-year mine extracting five megatonnes of coal a year.
Chief executive officer Jason Elks said the company was "extremely pleased" with the "high-level" evaluation.
"Further to this the board and management believe the Kingaroy project has potentially compelling commercial advantages that continue to become apparent at each stage of his process," Mr Elks said.
"Therefore the company will now make approaches to potential partners that could benefit from this, including the appropriate levels of government, the existing owners and potential future owners of the Tarong Power Generation asset."
Moreton Resources is considering the next step for the project once results are verified.
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