Website: http://montem-resources.com/
Ticker: ASX: MR1
Project Stage: Exploration
Commodities: Coking Coal
Location: Canada

Montem Resources (MR1.ax) is a steelmaking coal developer operating in Canada.

Montem listed on the ASX in September 2020, raising $8million at 25 cents/share. Current market capitalisation is approximately $50million.

Montem’s assets are in the Crowsnest Pass, in southwest Alberta. This is the centre of coking coal production in Canada.  Nearby Teck Resources produces 25 million tonnes annually, Hancock Prospecting recently purchased the adjacent Grassy Mountain project for $750m, and Atrum Coal (approx. market cap. $160million) also has large development projects.

Montem has three main projects: the first is the Tent Mountain Mine, which we are in the process of re-starting and expect first coal in 2022; the second is the Chinook Project, which we just completed exploration drilling, with average apparent coal seam thickness of 22m. Chinook has the potential for large-scale developments of open-cut coking coal. The third are greenfield exploration projects with exploration targets of coking coal in excess of 1billion tonnes.

Our strategy is simple. We intend to re-start the Tent Mountain Mine and use the A$65million annual EBITDA to self-fund the development of the Chinook Project. By doing this, we minimize dilution to existing shareholders, and reach cash flow positive with less risk and faster than larger green field developments.

Montem Resources Ltd will be showcasing their projects to prospective investors at Mines and Money Online Connect. Apply for your complimentary investor pass here.