22nd Jan 2015 18:06
LONDON (Alliance News) - New World Resources PLC Thursday said a"positive" pre-feasibility study for the Debiensko project in southern Poland has been completed.
The JORC compliant study, conducted by DMT Consulting GmbH, has identified a total of 263 million tonnes of proven and probable hard coking coal reserves. After the reserves have been processed, it will yield 186 million tonnes of marketable reserves, said the company.
Following the study, New World are now "exploring opportunities to attract funding for the estimated two year feasibility stage of the project," it said.
New World shares closed down 11.9% on Thursday to 1.10 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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