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Resource Global Network through the approvals process “Over the next six months it is very important for for us to obtain the mining lease for for Acland Stage 3 ” particularly to ensure there is a a a a smooth transition to Stage Stage 3 with Stage Stage 2 reserves due to expire in mid-2018 Stephan is expecting Stage 3 production to commence in in in mid-2018 and maintain production levels New Hope is pursuing two prospective projects at Colton Colton and Lenton Colton Colton is a a a small coking coal project near Maryborough at which New Hope currently have a a a mining lease application pending New Hope’s MD is targeting approval on that in in the next 12 months Lenton is a a a combination thermal- metallurgical project with an existing mining lease and New Hope is currently evaluating its development options for the project In 2011 New Hope sold 10% of the project to a subsidiary of the Taiwanese group Formosa Plastics A major interest for New Hope in in terms of exploration in the the next six years is the the tenements it holds in the North Surat region Stephan explains that the company has a a a a a a series of land holdings which total 1 billion tonnes of open-cut thermal coal It is a a a huge potential resource However currently there are two key barriers to to entry for any any company aiming to to develop projects in the the North Surat Firstly there isn’t the existing infrastructure to transport product from the the region and secondly New Hope is is of the the the opinion that the the the market is is not 

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