Eastern Corporation Quarterly Report for the Period Ended 31 March 2007

摘要

Eastern Corporation has returned steady March quarter results from its growing New Zealand operations, while further development at the Broughton project in Queensland has been put on hold due to projected overheads and operating costs. Eastern announced during the quarter that it would not proceed with the development of the Broughton coal resource as a stand-alone project in the near future. The Broughton project has a 30 million tonne coal resource contained in two seams and is a joint venture with Mitsui Coal Holdings, which holds a 10 percent interest. "The joint venture will continue to review development options for the project, including development in conjunction with adjoining tenement holders to maximise economics based on an expanded operation," Eastern said.