Allegiance Coal Limited announced to the planned acquisition of the Mine, and most recently, the release by the Company of the feasibility study results in relation to the Mine on 28 November 2019. Allegiance announced the conclusion of a binding agreement to acquire NECC and the Mine following the outstanding results of the Mine feasibility study undertaken by Allegiance and set out in the 28 November Announcement (Feasibility Study). Subject to raising the start-up capital and completing the Acquisition, the planned date for commencement of production is early calendar Third Quarter 2020. The start-up capital in the Feasibility Study was USD 55 million representing both capital investment in equipment, mine rehabilitation and working capital. Allegiance is reviewing the mine plan in the Feasibility Study with a view to reducing the start-up capital. Allegiance expects to announce an updated mine plan in the near future outlining this change. The main lead-in item to return to the Mine to production is the refurbishment of the mining equipment located at the Mine, and the acquisition of additional items of equipment so that the Mine will have three super-section production units, ready for the commencement of production.