Coalworks to obtain Gunnedah permit

EXPLORER Coalworks has come out of a trading halt after being selected as the successful applicant for the Vickery South release area in the Gunnedah Basin of New South Wales.

Blair Price

The NSW Department of Primary Industries invited expressions of interest for the area last year and Coalworks will now start the process to obtain the exploration licence.

Coalworks views the area as prospective for semi-soft coking coal and export thermal coal.

“The addition of semi-soft coking coal combined with export-quality thermal coal projects strengthens Coalworks’ asset base and prospects considerably,” Coalworks managing director and chief executive officer Andrew Firek said.

“This project has the potential for both open pit and underground resources with nearby rail access in an emerging coking coal province.

“Prospectivity is enhanced by its close proximity to an existing operating semi-soft coking coal mine.”

The area lies south of Whitehaven Coal’s Gunnedah operation.

Shares in Coalworks are up 20% this morning to 24c.

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