A Chinese coal producer has been forced to retreat from a host of claims made to the Australian market, after a bullish appraisal of a new mine near the Yangtze River fell short of ASX regulations.

Blackgold International Holdings yesterday withdrew claims that its recently acquired WuShan coal project would start production in the second half of this year, and that it would be producing 1.3 million tonnes by 2013.

The failure to meet ASX standards of proof extended to the overall mineralisation of the resource, forcing the company to said that it was 'uncertain whether further exploration will result in the determination of a mineral resource.

The company said the claims made to the ASX just before Easter should be interpreted as a ''goal'' for the coming three years, rather than as proven forecasts to be relied on when investing.

(Sourced from Morning Herald)