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Paringa Resources begins pre-construction activities at Poplar Grove mine

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World Coal,

Following the successful completion of the permitting and financing process, Paringa Resources has now begun exercising the options to acquire the surface property for the Poplar Grove mine site and refuse area.

As announced to the Australian Securities Exchange on 6 September 2016, Paringa secured 100% of the rights to acquire the 318 acres of surface property required for the Poplar Grove mine site and refuse area, complimenting the surface property previously secured for the permitted barge load-out facility on the Green River.

Over the coming weeks, Paringa will also now begin establishing power to the Poplar Grove mine site and begin mobilisation of excavation equipment for the mine site construction. Poplar Grove remains on schedule to start mine construction July 2017 with first coal production due mid-2018.

Paringa’s CEO, Todd Hannigan, said: “Following the successful completion of all technical studies and the permitting and the financing process, we remain highly focussed on delivering our development plan and we are now moving quickly into the construction phase at Poplar Grove. Our team has outstanding experience in constructing coal mines, delivering them on time and on budget, and we expect to continue to build upon our strong track record of meeting or exceeding our commitments to shareholders."

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