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Study confirms Buck Creek coal mining facility viability

Published by , Editorial Assistant
World Coal,

Paringa Resources Limited has announced the results of the expanded Bankable Feasibility Study (BFS) for the Buck Creek coal mining complex, incorporating the expansion of the Poplar Grove mine to include the WK No.11 seam.

The Expanded BFS confirms the Buck Creek Complex's technical and economic viability, and demonstrates a Net Present Value (NPV) of US$655 million (A$850 million) with initial project capex of only US$44.7 million. The BFS was prepared to a maximum accuracy variation of +/- 10%.

The expanded BFS has been prepared in accordance with the JORC Code 2012 Edition (JORC Code) and National Instrument NI 43-101 'Standards of Disclosure for Mineral Projects' (NI 43-101). Paringa has previously released the results of a BFS for the Poplar Grove Mine (WK No.9 seam only) and the Cypress Mine to the Australian Securities Exchange (ASX) on 21 November 2016 and 2 December 2015 respectively.

The expanded BFS was managed by Marshall Miller & Associates, Inc. (MM&A), with utilisation of local industry consultants who have expertise in coal mine development in the Illinois Basin region. MM&A, previously owned by Cardno Limited, has managed all of Paringa's technical studies and has over 40 years of expertise in mine engineering, mine reserve evaluation, feasibility studies, and due diligence services for mining and resource projects, particularly in the US coal industry.

Please refer to Paringa's home page for access to the full ASX announcement:

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