The company said that the final two drill holes at the Varalja exploration target at Mecsek Hills are expected to be completed shortly.

A 3D seismic programme at the project has already been completed to help identify prospective coal blocks in Varalja, as part of the final site selection process.

Wildhorse said final site selection will follow the completion of the drilling program and assessment of geological structure, coal suitability, land access, local infrastructure and mining layout.

The firm after site selection, will carry out the environmental permitting, hydrogeology studies and the mining licences required to permit conversion of coal into syngas utilising UCG technology.

The study is scheduled to be conducted later this month, reports proactiveinvestors.