ANNUAL%20REPORT%202015%20eng

Management Discussion and Analysis
Table 2. UHG mining license JORC (2012) compliant Coal Resource estimate, by depth and category, as at 30
November 2015 (Note):
Total Coal Resource
Resource Category (Mt)
Depth limit from topographic surface Measured Indicated Inferred
Total
(M+I)
Total
(M+I+I)
Subcrop to Base Horizon of
Weathering Elevation (“BHWE”) 2 3 5 5 10
BHWE to 100m 73 23 17 97 114
From 100m to 200m 94 48 26 141 168
From 200m to 300m 91 64 21 155 176
From 300m to 400m 57 35 15 92 108
Below 400m 40 44 30 84 114
Sub-Total above 300m 260 138 70 398 468
Sub-Total below 300m 97 79 45 177 222
Total 357 217 115 575 689
Total (Rounded) 360 220 120 580 690
Notes:
(i)
(ii)
(iii)
Technical information in the UHG Coal Resource estimation report has been compiled by Mr. Lkhagva-Ochir Said,
General Manager of Technical Services, Mongolian Mining Corporation. Mr. Said is a member of the Australasian Institute
of Mining and Metallurgy (Member #316005) and has over 8 years of experience relevant to the style and type of coal
deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined
by the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, The JORC Code
(2012). Mr. Said consents to the inclusion in the release of the matters based on this information in the form and context
in which it appears. The estimate of the Coal Resource set out in Table 2 presented in this annual report are considered
to be a true reflection of the UHG Coal Resource as at 30 November 2015, and have been carried out in accordance with
the principles and guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves. The JORC Code (2012).
Mr. Gary Ballantine is employed by the Group as Executive General Manager for Exploration and Geology. Mr. Ballantine
is a member of the Australasian Institute of Mining and Metallurgy (Member #109105) and has over 25 years of experience
relevant to the style and type of coal deposit under consideration and to the activity which is being undertaken to qualify
as a Competent Person as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves, The JORC Code (2012).
Due to rounding, discrepancy may exist between sub-totals and totals. Rounding rules refer to Clause 25 of the JORC
Code (2012).
In 2015, 16 boreholes were drilled within the UHG mining license, comprising 636m of HQ-3 drilling and 368m of
122mm diameter open hole drilling, outside of the northern pit limit. The purpose of this drilling was to improve
the geotechnical knowledge related to the boundaries of basement rock on the northern periphery of the UHG
deposit. The information obtained allowed the revision to be made to the life-of-mine (“LOM”) pit slope design,
subsequently allowing the revision of ex-pit dump design and the facilitation of shorter overburden haulage
distances than previously determined during LOM planning. Data obtained from this drilling was not included
in the JORC Coal Resource updated as of 30 November 2015, and is unlikely to have any bearing upon future
updates.
Annual Report 2015
23