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Ashford definite 50:50 venture

NORTHERN Energy has failed to complete a bankable feasibility study on its co-owned Ashford Coking Coal project and has lost the right to acquire an additional 25% interest in the venture.

Staff Reporter
Ashford definite 50:50 venture

The project is a 50:50 venture with Renison Consolidated Minerals with Northern Energy being the sole financer and manager of the project until yesterday's deadline, after which the project will be co-funded.

Divided into two separate project areas, the Ashford Coking Coal Project comprises a mine area with an inferred 18 million tonne resource and a separate exploration area.

The companies are considering developing the resource with a possibility of working with other deposits in the area proven by third parties.

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