Prairie Mining (ASX:PDZ) has announced an excellent resource update at its Lublin coal project in Poland. The total resources now contain 722 million tonnes of coal of which 333 million tonnes are now included in the indicated category. This will be important as it will be used for an updated mine plan which will be incorporated in the pre-feasibility study which is expected to be completed later this year.
And there’s another important development. Test work has indicated the coal quality of seam 391 (which contains almost 250 million tonnes of coal) is semi-soft coking coal and this could add a lot of value to the company’s project.
To unlock further value, Prairie will also increase its exposure to investors by applying for a listing on the London Stock Exchange and the Warsaw Stock Exchange, and we think this is a great move to get some more interest on the property.
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Disclosure: The author holds a small long position in Prairie Mining. Please see our disclaimer for current positions.
