Summit Coal Limited Partnership (“SUMMIT”) was formed in 2011 and consists of both the Mine 14 project and Mine 16S property. Mine 14 contains 121.1 million tonnes of measured and indicated resource and 18.9 million tonnes of mineable reserve (NI 43-101 report available on SEDAR). SUMMIT has achieved certain key milestones essential to commencing commercial operations of Mine 14. In 2011, the ERCB granted a Mine Licence and Permit to commence underground mining of the Mine 14 coal reserve. An amendment to this Licence was received in 2013 to increase the permitted run-of-mine production rate 2.7 times from 480,000 tonnes to 1,300,000 tonnes per year.