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| |  EloffOverview The Eloff Project is a significant coal resource, largely mineable by open cast methods (open pit mines), underlying predominantly farming (maize and livestock) land that has historically been considered for supplying a low grade of coal to the local power generating industry. A component of the resource could be upgraded for local industrial consumption or the export market. The Eloff Project lies in the western extremity of the Witbank Coalfield, located about 100 kilometres East of Johannesburg, some 10 kilometres to the south of the town of Delmas in Mpumalanga Province of South Africa. The elevation of the project is some 1,600 metres above mean sea level. Mineral Rights In May 2009, Homeland secured the the mining licence for the Eloff Project granted by the Department of Minerals and Energy. Homeland currently owns 50% of Eloff, with options to acquire a further 1% for ZAR 1.00, and a further 23% on commercial terms. Homeland's Black Economic Empowerment partner owns the remaining 50%. Geology The project is located close to a number of current and defunct mining operations. Several prospecting drilling campaigns have been carried out in the area, the most recent being commissioned by Homeland in May 2007. A total of 165 holes were drilled in 2007 over the project area of 4,921.3 hectares, for a total length of 10,312 metres. The majority were coal-bearing with only 10 boreholes, along the edge of a paeleo drainage channel, showing no coal or weathered coal. The drill pattern was set out initially on a 500 metre by 500 metre pattern, designed to supplement the 65 holes drilled in 1980/81 from which results the size of the project was first realized. More than 12,000 metres of drilling has been done on this property to the end of 2008 to delineate a resource. Mining Permit Process An initial round of public meetings was held in early July, 2008 following which an environmental management program report for the Eloff Mining Project was submitted on July 14, 2008. A pre-feasibility study has been conducted on the Eloff property by Norwest Corporation (completed in Q3 2008) and results of this study were used internally by Homeland and partner, GMR, to evaluate mining methods and schedules for the Eloff resource. This will be followed directly by a full Bankable Feasibility Study, including detailed beneficiation plant design, infrastructure layout, staff requirements, and capital and operating budget projections. Technical Report Click here for the Internal Eloff Technical Report, 30 March 2009  (10.3 Mb)
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