Expanded BFS results for the Poplar Grove and Cypress Mines are as follows:

Poplar Grove and Cypress Mines Fundamentals (to a maximum accuracy variation +/- 10%)
  Poplar Grove Mine Cypress Mine
Average ROM Coal Production Steady State 3.6 Mtpa 5.1 Mtpa
Total ROM Coal Produced Life-of-Mine (“LOM”) 89.0 million tons 86.3 million tons
Product Heating Content 11,200 Btu/lb 11,200 Btu/lb
Average Product Yield 76% 77%
Mine Life 25 years 18 years
Average Saleable Coal Production Steady State 2.8 Mtpa 3.8 Mtpa
Total Saleable Coal Produced (LOM) 67.7 million tons 66.2 million tons
Coal Processing Plant Capacity 400 tons per hour 700 tons per hour
Coal Processing Method Dense Media 2-Stage Dense Media 2-Stage
Underground Mining Method Room-and-Pillar Room-and-Pillar
Construction Start Date Mid-2017 Q1 2019
First Coal Production Date Mid-2018 Q1 2021
Ramp-up Period to Full Production 12 months 19 months
Average Annual Operating Costs (steady state) US$29.24 per ton US$27.37 per ton
Average Annual EBITDA (steady state) US$67.1 million US$99.6 million

Expanded Bankable Feasibility Study (BFS)