Resource Investing News will be profiling companies on the S&P/ASX 300 Metal & Mining index moving forward. The first two are Prairie Mining and Doray Minerals.
For investors focused on the resource space, a good way to track companies listed in Australia is to look at the S&P/ASX 300 (INDEXASX:XKO). The index includes all S&P/ASX 200 (INDEXASX:XJO) companies as well as about 100 smaller-cap companies, and as of April 2015 accounted for 74 percent of the Australian equities market. Specifically, the S&P/ASX 300 Metal & Mining (INDEXASX:XMM) division is a great source for companies to watch.
Emerging coal company Prairie Mining is currently focused on developing its Lublin coal project, located in Eastern Poland. The project is a large-scale thermal and semi-soft coking coal project, and has a current coal resource estimate of 1.6 billion tonnes across four exploration concessions. An April 2014 scoping study points to “robust project fundamentals,” including the potential to supply 6 million tonnes of semi-soft coking coal and premium thermal coal in Europe at an average cash operating cost of US$36.80 per tonne.
Most recently, in March, Prairie announced that it has estimated a coal exploration target at its Sawin-Zachod concession, which is contiguous with Lublin.
Australia-based Doray describes itself as a high-grade gold producer, developer and explorer with “substantial exploration upside.” The company holds the operating Andy Well gold project and development-ready Deflector gold project. Both are located in Western Australia, and Doray is aiming to bring Deflector into production in 2016.
The company has released little news so far in 2015, but did say at the end of March that in June it will be updating shareholders regarding how much money it will need to develop Deflector.