LCP is said to be the premium thermal and semi-soft coking coal project in the Lublin Coal Basin, adjacent to the Bogdanka mine.
A scoping study for the LCP earlier this year confirmed the potential for a high margin semi-soft coking and premium thermal coal operation.
The study estimated annual operating costs at $37 per ton for the project, placing it at the lowest position on the global cost curve for coal delivered into Europe.
Expected to be completed during the first half of 2015, the PFS is claimed to meet international standards to support technical and financial due diligence and advance to the bankable feasibility study stage.
Prairie CEO Ben Stoikovich said: "We are looking forward to rapidly progressing the PFS for the Lublin Coal Project and have assembled a strong team of study consultants with skills and experience in deep underground coal mining that I am confident will deliver the first study of its type in accordance with international standards within the entire Lublin Coal Basin.
"In addition, we will continue to upgrade the existing coal resource through targeted drilling and will initiate discussions with European steel mills and coal power plants who we believe will place strategic value on a significant new independent production source from within the heartland of industrial Europe."
