Further to Prairie Mining Limited’s („Prairie” or „Company”) announcement on 29 March 2018 on the possible co-operation between Prairie and Jastrzębska Spółka Węglowa SA („JSW”), Prairie notes recent press articles regarding comments by representatives from JSW on possible transaction(s) between the Company and JSW with respect to Prairie’s Polish coal projects.
The Company advises that discussions continue to take place as part of the exchange of technical and commercial information as referenced in the Company’s announcement on 29 March 2018. Commercial discussions continue to be at a preliminary stage and that even if they move onto discussions of specific transactions terms there can be no certainty as to whether any transaction(s) will be agreed, or the potential form of such transaction(s). The Company expects further exchange of information will continue with JSW.
Any potential transaction(s), should they occur, may be subject to a number of conditions including, but not limited to, obtaining positive evaluations and expert opinions, necessary corporate approvals, consents and approvals related to funding, consents from Poland’s Office of Competition and Consumer Protection (UOKiK) if required, and any other requirements that may relate to the strategy, objectives and regulatory regimes applicable to the respective issuers.
The Company will continue to comply with its continuous disclosure obligations and will make announcements to the market as required.