The Directors of Laneway Resources Ltd have entered into a sale and purchase agreement to acquire the 50% interest in the Ashford coking coal project previously held by Northern Energy Corp. Ltd. This acquisition will give Laneway Resources a 100% ownership interest in the global resource of 13 million t of coking coal within the exploration licence of Ashford in northern New South Wales, Australia.
Laneway has also commenced work to upgrade the mineral resource to 2012 JORC compliance and aims to progress the project by progressing the existing exploration licenses 6134 and 6428 to a mining lease application within the next six months.
Several options have been reviewed for transport solutions for coal from the project allowing access to the port which would be viable at current coking coal spot prices.
Read the article online at: https://www.worldcoal.com/exploration-and-development/13112017/laneway-resources-obtains-100-ownership-of-ashford-coking-coal-project/