Prepared in accordance with JORC Code 2012 Edition and the requirements for a Preliminary Economic Assessment report in accordance with NI43-101, the study has been carried out conducted on the northeastern quadrant of the Company’s Buck Creek thermal coal project.
Paringa chief executive officer David Gay said that the scoping study results show the potential to develop a new mine aiming to replicate the success of our peers in adjacent mines in the region.
"With the Scoping Study complete the Company will look to begin a Pre-Feasibility Study on the Buck Creek Project in the coming weeks," Gay added.
"The Buck Creek Project has the potential to rapidly become a significant new production source in the highly sought after Illinois Coal Basin."
The study encountered that the project can produce 4.7 million tons per annum (Mtpa) Run-of-Mine (ROM) coal yielding approximately 3.4Mtpa of saleable clean coal at steady state production by making use of project’s current Coal Resource Estimate (CRE) of 154 million tons of coal.
