The scoping study, which was conducted by Xenith Consulting, confirmed robust economics for a 1.9Mtpa open cut mine for 30 years in the proposed Moorlands South Pit.
In first quarter of 2014, Cuesta is expected to begin definitive feasibility study (DFS) at Moorlands in while first coal production is scheduled for 2016.
Currently, the 2013 drilling campaign is progressing to plan at Moorlands and is scheduled to be completed later this month.
Cuesta managing director Matthew Crawford said the final results from the 2013 drilling program and an JORC Resource update for the Moorlands project will be provided in forthcoming weeks.
"The scoping study confirms the Company’s long held belief that the Moorlands Project sits firmly in the lower quartile of coal mine development projects in terms of capital cost per tonne and FOB cash costs," Crawford added.
"The confirmation of a robust South Pit mining operation at Moorlands is a very positive result for Cuesta and endorses the project’s position as one of the largest undeveloped coal assets in the Western Bowen Basin of Queensland."
Cuesta is negotiating with infrastructure stakeholders for allocations of port, rail, water and power while next stage of work will include further infill drilling to delineate reserves, detailed engineering for mining, coal processing and coal transport, securing port and rail infrastructure access, and negotiating offtake agreements.
