LONDON (Alliance News) - TomCo Energy PLC Wednesday said it had started drilling its Holiday Block to appraise water quality and the permeability of rock as part of the work required to get a ground water discharge permit from authorities in Utah.
In a trading update, the company said the drilling would take about a month to complete and the results are expected before the end of the year.
It said it had also been granted a small mine license, allowing it to carry out trail mining next year, and work on getting a large mine permit was progressing well.
TomCo's shares were up 2.3% at 1.575 pence Wednesday morning.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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Tomco Energy (TOM)