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Joint Update Statement Regarding Possible Co-Operation between Prairie Mining and JSW |
Common position on establishing potential cooperation between Prairie Mining and JSW |
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Prairie Mining #PDZ and Jastrzębska Spółka Węglowa SA (” JSW “) have entered into a Non-Disclosure Agreement (” NDA”) following Prairie’s approach to JSW with respect to potential co-operation regarding Prairie’s Polish coal projects. The purpose of the Prairie’s projects. Prairie will be available for the development of development, conditions of the mining concession, environmental permits, and the mining usufruct contract. JSW will also assess other various risks and opportunities, including JSW’s existing infrastructure at the neighboring Knurów-Szczygłowice mine. Prairie will be available in the project. Jan Karski project in the Lublin Coal Basin, to allow JSW to be an assessment of the project’s feasibility and economics. development, the physical and chemical parameters of the timeframe and conditions with regards to obtaining a mining concession, as well as other risks and opportunities. It is emphasized that it is also possible to acquire a specific transaction, and should not be affected Positive evaluations and expert opinions, necessary approvals from the Polish UOKiK (Polish Office of Competition and Consumer Protection). respective issuers. There can be no surety transaction in the transaction (s). The NDA provides for discussions to be supported by mutual parties. The companies will continue to comply with the relevant markets, as required. |
Prairie Mining #PDZ and Jastrzębska Spółka Węglowa SA (” JSW “) entered into a Confidentiality Agreement as a result of Prairie’s presentation to JSW regarding potential cooperation on Prairie coal projects in Poland. The purpose of the Agreement is to enable the exchange of technical and commercial information, which will facilitate the conduct of key and more advanced talks on all possible transaction options regarding Prairie projects. Prairie will provide information on the coking coal project under the Debieńsko-1 concession granted in 2008 to enable JSW to assess the feasibility and economic conditions of this project, including factors such as the stage of its development, the terms of the mining license, environmental permits and agreement on the establishment of mining usufruct. As part of this process, JSW will also assess various other threats and opportunities, including those related to the JSW infrastructure existing at the neighboring KWK Knurów-Szczygłowice. Prairie will provide information on the Jan Karski project in the Lublin Coal Basin to enable JSW to assess the feasibility and economic conditions of this project in the field of coking coal, including factors such as its development stage, physicochemical parameters of coal (in particular its parameters coking), time frame and conditions related to the obligation to obtain a mining concession, as well as other various threats and opportunities. It should be emphasized that talks are conducted in the initial phase and even in the case of transition to talks about specific terms of the transaction, any possible transaction or transactions, if it occurs, may depend on meeting a number of standard conditions, including from obtaining positive assessments and expert opinions, necessary corporate approvals, approvals and approvals regarding financing, approvals of the Office of Competition and Consumer Protection (UOKiK), if they are required, and meeting any other requirements related to the strategy, objectives and regulations applicable to each issuer. There is no certainty that the talks will lead to the conclusion of any contract (s), nor is there any certainty as to the form of any transaction (s). The confidentiality agreement allows you to hold talks for an initial period of up to six months, which can be extended by mutual agreement. The companies will comply with their obligations to provide the required information to the markets. |
For further information, please contact:
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Prairie Mining Limited |
Tel: +44 207 478 3900 |
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Ben Stoikovich, Chief Executive Officer |
Email: info@pdz.com.au |
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Sapan Ghai, Head of Corporate Development |