Paringa Secures Two Coal Leases at Buck Creek

Mining Weekly reported that Paringa Resources Ltd. (ASX:PNL) has secured two new coal leases within its Buck Creek mining complex in the US.

As quoted in the market news:

The study on the Buck Creek No 1 mine would be completed during the March quarter, while the technical study for Buck Creek No 2 was due in the September quarter.

Cash flow from the proposed Buck Creek No 1 mine would assist with the development of Buck Creek No 2.

Paringa CEO David Gay stated:

Our successful leasing programme has significantly de-risked the development of the Buck Creek No 1 mine, and paved the way for a substantial expansion to the prefeasibility plan.

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