(MENAFN- ProactiveInvestors)
() is preparing to announce a substantial increase in the JORC Resource for its flagship Mariola Thermal Coal Project in Poland and has been granted an ASX trading halt.
In November the company appointed Australian consulting firm Salva Resources to deliver a JORC Resource review for the project by the end of November and a Pre-Feasibility Study by February 2015.
Mariola currently has a JORC Resource of 77.1 million tonnes and could be in production by end 2016.
The halt will last until the earlier of the announcement being made or the start of trading on Monday 8 December 2014.
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