Atrum Coal (ATU) released further clean coal and coking characterisation test results for Isolation South, part of the Elan Project in Alberta, Canada. These results are in line with previous tests and confirm the ability to produce premium grade coal products. ATU is set to achieve significant milestones through FY21, including a comprehensive Isolation South coal-coke quality report, an updated Scoping Study, both in Q4 2020, then a Pre-Feasibility Study (PFS) in mid-2021. The neighbouring Grassy Mountain Project is expected to attain final permitting in H1 2021. We regard this as a major catalyst for ATU, as it will instil investor confidence in the ability to permit new coal projects in Alberta.
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