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Balamara launches PFS in Poland

3rd November 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – ASX-listed Balamara Resources has launched a prefeasibility study (PFS) at its Mariola thermal coal project, in Poland, appointing consulting firm Salva Resources to complete the task.

The company told shareholders that the delivery of a strong PFS would underline the value proposition and commercial potential within the Mariola project, which was expected to produce its first coal by the end of 2016.

The PFS was scheduled for completion in February next year, while a bankable feasibility study would be completed by the end of 2015, allowing Balamara to raise project finance.

The Mariola project would likely become Balamara’s first producing mine, owing to its advanced status, shallow coal seams and location immediately adjacent to a thermal coal power station.

The project was estimated to host an indicated resource of 43.6-million tonnes and an inferred resource of 33.5-million tonnes.

Edited by Creamer Media Reporter

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