Laneway Resources obtains 100% ownership of Ashford Coking Coal...

Laneway Resources obtains 100% ownership of Ashford Coking Coal Project

Save to read listPublished by Claire Cuddihy, Editorial Assistant
World Coal, Monday, 13 November 2017 11:26

The Directors of Laneway Resources Ltd have entered into a sale and purchase agreement to acquire the 50% interest in the Ashford coking coal project previously held by Northern Energy Corp. Ltd. This acquisition will give Laneway Resources a 100% ownership interest in the global resource of 13 million t of coking coal within the exploration licence of Ashford in northern New South Wales, Australia.

Laneway has also commenced work to upgrade the mineral resource to 2012 JORC compliance and aims to progress the project by progressing the existing exploration licenses 6134 and 6428 to a mining lease application within the next six months.

Several options have been reviewed for transport solutions for coal from the project allowing access to the port which would be viable at current coking coal spot prices.

Well, if "World Coal" say so, it must be true

Please note as at 20 Nov 2017 - "Total resources within EL6234 have been estimated at 14.8 million tonnes of in-situ coal with 6.5 million tonnes classified as Indicated and 8.3 million tonnes as Inferred."