LONDON (Alliance News) - Prairie Mining Ltd on Wednesday said due diligence has suggested promise for a cooperation between the company and a Polish partner, Jastrzebska Spolka Weglowa SA.
Prairie said due diligence has suggested part of the Lublin deposit on its Jan Karski project could produce semi-soft coking coal that JSW could use.
Further, analysis suggests there is commercial potential for the initial seams at the Debiensko deposit using the infrastructure at JSW's adjacent Knurow-Szczyglowice mine.
To do so, Prairie would have to modify its current plan for the project, requiring new approvals. If it got these, it said JSW believes it could produce hard coking coal from Debiensko within 18 months.
Shares in Prairie were 2.1% higher on Wednesday at a price of 27.05 pence each.