STRICTLY CONFIDENTIAL — NOT FOR DISTRIBUTION
Feasibility-stage · Development-ready energy asset

Wintinna Coal Project

Opal (via SA1 Pty Ltd) holds granted exploration licence EL 7142 (3 July 2026; six-year term) — exclusive tenure over the deposit: the sole right to explore the ground, and the established pathway to a mining lease. (Minerals in situ remain Crown property until mined under a lease — the standard position for every Australian mining project.)
Resource figures are a 2008 historical estimate (JORC-vintage), not re-stated under the JORC Code (2012).
⤢ Open Interactive 3D Model View 3D model in page ↓ ⤓ Save as PDF / Print
105 seam-bearing holes · 9 seams · rotate & explore

Location & Setting

Regional location

Far North SA · Arckaringa Basin · near the Adelaide–Darwin rail & Stuart Highway
Wintinna location map

Why the setting works

Infrastructure & geology advantages
  • Flat terrain (~120–150 m AHD); open scrub on pastoral lease
  • ~60 km east of the Adelaide–Darwin railway & Stuart Highway
  • Ten persistent, flat-lying seams (dip <2°), no faulting, no weathering
  • Consistent 140–180 m overburden — ideal for large open-cut
  • CO₂ sequestration option in the East Officer Basin (~100 km)

Route to market & infrastructure

Great-circle distances from the deposit — transcontinental rail & sealed highway on the doorstep

Coal Resource & Geological Model

Seam inventory — modelled seams

Descending stratigraphic order · M&I resource, thickness & intercept count per seam
SeamM&I (Mt)Avg thk (m)Roof (m)Picks

JORC resource by category

2008 estimate · 1,287 Mt total
Covers only ~25% of the mapped deposit. Historical estimate — not re-stated under JORC 2012.

M&I resource by seam

Million tonnes · clean-coal product basis

Official mineral resource map (2008)

Measured / Indicated / Inferred outlines over drillhole collars & tenement
Wintinna mineral resource map

Seam thickness vs roof depth

Average seam thickness (bars) against average roof depth (line) — thick seams at open-cut depths

Cross-Sections & Section Location Plan

Interpreted seam geometry from the official 2008 resource statement (McElroy Bryan). Seventeen NW–SE section lines (EW01–EW17) run across the deposit; the location plan below shows where each lies relative to the resource area, and two representative sections — EW01 (north) and EW06 (central) — are reproduced beneath it.

Section location plan — 17 section lines (EW01–EW17)

Official Figure 4.2 · section lines, drillholes, "Area of Resource Estimate" & EL3361 boundary
Section location plan

Section A — EW01 (northern)

RL (m AHD) vs Easting · ground surface, drillholes & correlated coal seams
Cross-section EW01

Section B — EW06 (central)

Gently NE-dipping seams between ~0 and −100 m RL
Cross-section EW06
Official cross-sections reproduced from the Statement of Coal Resources, Wintinna (EL3361), 31 July 2008 — McElroy Bryan Geological Services. The full set of 17 sections is in the data room.

Drilling Database

Holes by era

150 holes · two campaigns

Holes by tenement

Exploration licences

Depth distribution

Max hole depth (m)

Drill method

Rotary vs cored vs other

Coal-data coverage

Seam-detail vs measures-only vs none

Database at a glance

Consolidated May 2026

Coal Quality & Product Suitability

Low-rank sub-bituminous coal: high inherent moisture but low ash, low sulphur and high volatile matter — a strong feedstock for gasification and Coal-to-Liquids. Washing lifts calorific value and cuts ash; sulphur (largely organic) rises down-section into the basal seams.

Calorific value — raw vs washed

MJ/kg (dry basis), by seam

Ash & sulphur — washed product

% dry basis, by seam

Development Pathway & Economics

The value — 2026 cost basis

How this read-across is derived

The 2008 PFS — the studied base case

Jacobs / Altona Pre-Feasibility Study · after-tax · NPV @10% · report on file
The completed 2008 study the 2026 lens (left) is anchored to — full report in the data room.

Value vs diesel price — 2026 cost basis

Opal 2026 model · post-tax NPV @10% · ~US$4.8bn build · breakeven ~US$100/bbl
Post-tax NPV₁₀ (US$M)Below breakeven (negative)

Integrated CTL + power complex

Reference daily streams · Wintinna feed
Base case · 30-yr life · 8:1 strip · 2008 PFS capital US$3,206 M; ~US$4,800 M all-in at 2026 Chinese-EPC costs.
Alternative product pathway

    Process concept — Jacobs block flow (gasification → Fischer-Tropsch → diesel + power)

    2007 Jacobs Consultancy design; unit-level technology evaluations on file
    Jacobs block flow diagram

    Market, Peer & Regulatory Context

    External sources (fetched July 2026)

    Project history & study lineage

    Four decades, successive operators

    De-risking ledger

    Completed vs outstanding workstreams

    3D Coal Ore-Body Model

    Interactive model built from the real drillhole database — the 105 seam-bearing holes (of the 150 in the database) and 1,224 of the 1,240 seam intercepts, rendered directly on each hole. Seams are shown as solid bodies (extruded to average thickness) that you can recolour by coal quality — calorific value, ash or sulphur — and cut with a live, draggable cross-section. Toggle and isolate seams, read depths off the scale, and rotate / zoom / pan. Best viewed full-screen.

    Interactive 3D ore-body model — omitted from print. Open Wintinna_3D_Ore_Body_Model.html to explore seam solids, colour-by-quality, cross-sections and wireline logs.
    ⤢ Open full screen

    Data Room — What's on File

    Four decades of technical work assembled into a sale-ready data room. A selection of the key documents underpinning the figures above.

    Enquiries & data-room access

    Opal Resources — info@opalresources.com.au · www.opalresources.com.au. Process: NDA → full data-room access → management session & site visit. Expressions of interest invited.