Company PresentationOctober 2017
Construction Underway atPoplar Grove Mine
ABN 44 155 933 010F
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The Next Major
Illinois Basin Coal Producer
✓ Construction “on-track” at the first mine (Poplar Grove)
✓ ~90% of Capex “locked-in” under fixed price contracts
✓ 45% of 1st 5 years of production “pre-sold” under fixed prices
✓ Poplar Grove EBITDA1: US$67m; Combined EBITDA2: US$167m
✓ Short timeline to first coal production at Poplar Grove
✓ Permitted pathway to 6.6 Mtpa (Poplar Grove + Cypress)
✓ Rebound in US thermal coal now underway
✓ “Pro-growth and “pro-coal” US regulatory tailwinds
✓ Upcoming listing on major US stock exchange
✓ Building a “safety first” culture
Paringa Highlights:
Notes: (1) Relates to average annual EBITDA over the steady state production, refer to the ASX
announcement dated 28 March 2017 for all results from the Final Bankable Feasibility Study (“Final BFS”).
(2) Note, combined EBITDA relates to average annual EBITDA from both the Poplar Grove and Cypress
Mines during steady state production, refer to Final BFS announcement.
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US$45 m US$ 67m
US$ 163m
US$ 310m
US$ 655m
Poplar GroveCapex
Poplar GroveEBITDA
CombinedEBITDA
Poplar GroveNPV
CombinedNPV
Permitted,Low Cost
Pathway to High Returns
on Capital High Return on Capital (Final BFS)1
Low Capex Intensity (Final BFS)1
0 Mtpa
2 Mtpa
4 Mtpa
6 Mtpa
8 Mtpa
2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044
Cypress Mine
Poplar Grove
Permitted Production Profile (Final BFS)1
Notes: (1) Refer to the ASX announcement dated 28 March 2017 for all results from the Final Bankable
Feasibility Study (“Final BFS”). Note, capex figure has increased to US$48.5 million following execution of
fixed price contracts totaling almost 90% of the capex total. Capex intensity = Capex + Leased equipment /
Production)
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Construction Underway atPoplar Grove
Mine(Construction began in August 2017 and
is expected to finish by August 2018)
7 Aug 17
16 Aug 17
21 Sep 17
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Poplar Grove Mine
has been SignificantlyDe-Risked
Location of Poplar Grove and Cypress Mines and Access to the Ohio River Market
✓ Permitted and Financed ✓ Established local mining industry
✓ Simple, low cost mine construction ✓ Simple room-and-pillar operations
✓ Capex: ~90% Fixed Price Contracts ✓ Simple processing techniques
✓ Production: 45% of 1st 5yrs pre-sold ✓ Low cost barge transportation
✓ US$205 million sales contract ✓ First world jurisdiction
Poplar Grove Mine Significantly De-Risked:
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~90% of total Capex now underFixed Price Contracts
(Revised total Capex of US$48.5 millionfalling within funded contingency)
Poplar Grove Mine Plan View
“Best in Basin” Construction Contractors Secured
✓ Site Development: Pollard & Sons ✓ Shafts: North American Drilling
✓ Slope: Frontier-Kemper ✓ Plant: Fricke Mgt & Contracting
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Simple, well understood Mine Operations
& Processing Techniques
(Simple room-and-pillar underground mining operationsand simple coal processing techniques similar to
adjacent Alliance operations)
Slope Entry
And Site Office
Coal Prep.
Plant and
Stockpile
Green River
Barge Load-Out
Facility
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Permitted, Competitive,
Low Cost Illinois Basin
Supply(Poplar Grove and Cypress Mines sit comfortably
at the beginning of the 2nd quartile of the Illinois Basin cost curve)
0
10
20
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40
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60
US$
pe
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Illinois Basin “Mine Gate” Cost Curve1
Factors Supporting Paringa’s Low Cost Structure
✓ Paringa coal seams are +90% “in-seam” yield (i.e. almost pure coal)
✓ Enhanced plant yield and productivity due to high coal quality
✓ Simple, low cost, room-and-pillar mine operations
✓ Simple, well understood processing techniques
✓ Highly skilled, non-union workforce in a mining friendly jurisdiction
✓ Access to low cost power and utilities
Illinois Basin Production 50 mt 100 mt
Cypress Mine
Poplar Grove
Notes: (1) Source: Wood Mackenzie. Refers to cost curve for forecast 2017 production totaling 98 mt
plus the costs for an additional 6.6 million tons from Paringa’s Poplar Grove and Cypress Mines
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$-
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
Paringa:Poplar Grove
Foresight:Sugar Camp
Alliance:Dotiki
Peabody:Sommerville
CAPP NAPP PRB Natgas($3.00)
Natgas($3.50)
Natgas($4.00)
US$
pe
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mb
tu
LowDelivered
Cost to initial Target Ohio River Market
(Paringa’s low cost, high quality coal and its significant transportation advantages results in Poplar Grove and
Cypress Mines being among the lowest delivered cost coal to the Ohio River Market in the US)
Delivered Cost to LG&E’s Trimble County Plant1 (natgas equivalent prices)
Factors Supporting Paringa’s Low Cost Structure:
✓ Prime location in the heart of the Eastern US power market
✓ Low mine costs from favorable geology and high quality coal
✓ High heating content and low chlorine coal quality
✓ Low transportation costs to market
The Chart above compares the delivered cost at LG&E’s Trimble County plant on the Ohio
Rvier for Paringa’s two mines (i.e. Opex FOB Barge plus barge transportation costs) to the
parts of the Illinois Basin, other US coal basins and natural gas based on Henry Hub
Natgas prices at US$3.00, US$3.50 and US$4.00. Source: Wood Mackenzie; natural gas
costs account for weighted average heatrate efficiencies between a natural gas combined
cycle (7,400 Btu/KWhr) vs coal-fired unit (10,500 Btu/KWhr)
Proxies for:
Notes: (1) Refer to Slide 9 for location of Trimble County power plant
Poplar
Grove
Illinois
Longwall
West Ken.
Non-River
Mine
Indiana
Surface
Mine
Illinois Basin Other US Coal Basins Delivered Natgas Markets
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45% of First
5 Years of Production
Sold at Fixed Prices
(Production from Poplar Grove during First 5 years totals 10.75 million tons)
Contracted Production Fixed Contract Price (FOB Barge; 11,200 btu/lb)
0 - 750,000 tons US$40.50 per ton
750,001 – 1,750,000 US$41.50
1,750,001 – 2,750,000 US$43.00
2,750,001 – 3,750,000 US$44.25
3,750,001 – 4,750,000 US$45.75
Total Sales Contract Value US$205 million
Summary of Key LG&E Contract Terms (2018 to 2022)
Ohio River Market and LG&E’s 3 River Power Plants (including Trimble County)F
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Initially Targeting the
Ohio River & South
East Markets(Total annual demand for Illinois Basin coal from
both markets is over 70 million tons)
Ohio River & South East Markets for Illinois Basin Coal
Tier-1 Customer Base
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98 Mtpa106 Mtpa
125 Mtpa
109 Mtpa
116 Mtpa
134 Mtpa
70
80
90
100
110
120
130
140
2017 2025 2030
Mill
ion
To
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Illinois BasinRemains a
Growth Market
(Under a no carbon regulation environment, Wood Mackenzie forecasts Illinois Basin
Production to grow from 98 Mtpa in 2017 to 125 Mtpa by 2030)
✓ Lowest delivered cost to Eastern US power markets
✓ Highly productive, low cost mine operations
✓ Access to low-cost transportation infrastructure
✓ Highly skilled, non-union workforce
✓ Continues to displace higher delivered cost US Coal Basins (i.e CAPP)
✓ Improving regulatory outlook
✓ Potential change in weather patterns (i.e. Il Nino to La Nina)
Illinois Basin Demand1 (2017 to 2030)
Base Case
High Natural Gas Price
Factors Facilitating Illinois Basin Growth
Notes: (1) Source: Wood Mackenzie – under no carbon regulations and 1H2017 assumptions
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1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
5.50
6.00
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
US$
pe
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mb
tu
Recovery inUS Thermal
Coal Continues as Coal
Stockpiles Deplete
(US thermal coal stockpiles continue to deplete from their historical highs, with US natgas increasing from its historical lows, providing an improving environment for
US domestic coal prices)
US Thermal Coal Stockpiles Depleting from Historical Highs
100
120
140
160
180
200
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Mill
ion
to
ns
EIA Forecast
(12 months)EIA Actual
(2009 to Q217)
Future Natural
Gas Prices
Actual US
Natural Gas
Prices
US Natural Gas Prices Set to Continue to Rebound from Historical Lows
?
Notes: (1) Source: EIA
Average
Average
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Positive Outlook for
US Natural Gas Prices as
LNG ExportsRamps-up
(LNG Exports are set to rival and could surpass weatheras a core driver of electricity and natural gas prices
in the United States in the next few years)
US Liquified Natural Gas (LNG) Export Capacity (2016 to 2019)
✓ US produces 72.5 Bcf/d of natural gas as is now a net exporter
✓ LNG export capacity to increase from 1.4 Bcf/d to 9.5 Bcf/d by 2019
✓ Declining pipeline natgas imports from Canada
✓ Near doubling of export pipeline capacity (14 Bcf/d) to Mexico by 2019
✓ Mexico installing +50 GW in new energy generation, mostly powered by natgas
Unprecedented LNG Export Capacity in the US
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Export Markets
Opening upfor Illinois Basin Coal
(Sustained high European thermal coal prices will provide athird target market for Illinois Basin Producers, particularly
the higher chlorine longwall producers who historically have relied on the European export market from to the
US Gulf of Mexico)
Illustrative Illinois Basin Netback for Export Sales to Europe (ARA)
Notes: (1) Source: Bloomberg
European Thermal Coal Price1 (API2) vs US Thermal Coal Exports
0
10
20
30
40
50
60
0
20
40
60
80
100
120
140
2009 2010 2011 2012 2013 2014 2015 2016 2017
US
The
rmal
Co
al E
xpo
rts
(mill
ion
to
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Euro
pe
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he
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Co
al p
rice
(U
S$/t
on
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)
European Thermal Coal Price (LHS)
US Thermal Coal Exports (RHS)
Current European Coal Price (API2) US$90 per metric ton (MT)
Sulfur Discount (range $5 to $20) - US$15 per MT
Freight from US Gulf to ARA - US$10 per MT
US Gulf (FOB) US$65 per MT
Convert to Short Tons US$59 per ton
Handling at US Gulf Port - US$4 per ton
Barge Transportation to Illinois Basin - US$16 per ton
Effective Illinois Basin Price (FOB) US$39 per ton
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Growing Support fromUS Financial
& GovernmentInstitutions
+40 US Based attendees at September Mine Site Visit
Presentation to the Governor of Kentucky
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RapidlyImproving
“Pro-growth& “Pro-coal”
US RegulatoryEnvironment
✓
Clean Power Plan (CPP)
Following President Trump’s executive order for Energy Independence, Head of theEnvironment Protection Authority, Scott Pruitt, announced full repeal of the CPP
✓
Grid Resiliency Pricing Rule Proposal
Could essentially prevent coal and nuclear plants from closing even if they’re noteconomic to run and could guarantee coal plant owners a rate of return based ontheir costs rather than prices set by wholesale markets
✓
Stream Protection Rule
Congress passed the Congressional Review Act, voiding the EPA’s Stream ProtectionRule, protecting up to 1/3rd of US coal production
✓
Reduction in Corporate Tax Rate
Trump administration initiated action to reduce the Corporate Tax Rate from 35% to20%
Current “State of Play” for Federal Regulations
Current “State of Play” for State Regulations
✓
Illinois – Assistance to Install Scrubbers
If enacted, Illinois coal power plants that have been incentivized by the state ofIllinois to install scrubbers, would then base their coal buying decisions oneconomics, giving preference to the lowest delivered cost Illinois coal over the lowersulfur PRB coal.
✓
Kentucky – Potential to Give Preference to Burn Kentucky Coal
Commonwealth of Kentucky may be now assessing whether to introduce incentivesfor Kentucky utilities (who are scrubbed) to burn thermal coal sourced fromKentucky.
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PNL:Significant
Value Creation not Currently Reflected in Share Price
A$0.00
A$0.10
A$0.20
A$0.30
A$0.40
A$0.50
A$0.60
A$0.70
2013 2014 2015 2016 2017
Acquired Buck
Creek Complex
Start technical
Studies at Cypress
Mine
Complete technical
Studies at Cypress
Mine
Start technical
Studies at Poplar
Grove Mine
Complete technical
Studies at Poplar
Grove Mine
Complete
Permitting at
Cypress Mine
Start Construction at
Poplar Grove Mine
Complete
Permitting at
Poplar Grove Mine
Complete
Financing at
Poplar Grove Mine
Discovery of
Second Coal
Seam at Poplar
Grove Mine
US$205 Million
Sales Contract
with LG&E
✓ Completed 6 technical studies at Poplar Grove and Cypress Mines
✓ Fully permitted two coal mines in Kentucky
✓ Maiden US$205 million sales contract with investment grade utility
✓ Financed Poplar Grove and started construction
✓ Cypress Mine remains “construction ready”
Paringa Share Price and Milestones
Notes:(1) Source: Bloomberg
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Short Timeline
to First Coalwith Value
Add Catalysts
✓ Complete permitting at Poplar Grove Mine (2.8 Mtpa)
✓ Fully finance the Poplar Grove Mine
✓ Start mine site development at Poplar Grove
✓ Final mine engineering optimization at Poplar Grove
Q4 17 Start listing process on major US stock exchange
Q4 17 Pre-listing US investor roadshow campaign
Q4 17 Start construction of the Coal Handling and Preparation Plant
Q4 17 Start construction of the Barge Load-out Facility
Q1 18 List on major US stock exchange and begin trading
1H 18 Potential additional coal sales contracts
Q3 18 Complete construction of the Poplar Grove mine
Q3 18 First coal production
2019 Start construction of the permitted Cypress Mine (3.8 Mtpa)
Paringa Timeline:
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Key Corporate Statistics
Shares on Issue 317 million
Options 15 million
Performance Rights 16 million
Market Capitalisation (9 Oct 17) US$ 95 million
Cash (30 Jun 17) US$ 35 million
Undrawn Debt Facility (Macquarie) US$20 million
JORC Compliant Resource1 332 million tons
JORC Compliant Recoverable Reserves2 136 million tons
ASX Code PNL
Notes:(1) JORC Compliant Resource totaling 332.2 million tons is comprised of 103.6 million tons in the Measured category and 228.6 million tons Indicated category.(2) JORC Compliant Recoverable Reserves totaling 135.7 million tons is comprised of 43.5 million tons in the Proven category and92.3 in the Probable Category
Paringa Shareholder Mix (%)
Directors, Management &
Associates19%
Australian Super9%
Silver Lake Resources
7%
Institutional & Retail Investors
65%
Capital Structure
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Building a Winning Team▪ Formerly Chief Commercial Officer of Bowie Resource Partners, LLC, the largest producer of Western bituminous coal in the United
States, where he was responsible for corporate strategy, business development, sales, marketing, and logistics. Board member of the National Mining Association.
▪ Bachelor of Arts degree, Cum Laude, from Harvard College and a Master of Business Administration degree with Distinction fromHarvard Business School
▪ Mining Engineer with over 30 years of experience in developing coal resources projects covering the entire coal development chain and former Vice President Mergers and Acquisitions and Business Development at Alpha Natural Resources, one of the USA’s largest coal producers
▪ Over 15 years experience in Resources Project Development, Investment Banking and Investment Advisory
▪ Co-founder of Piedmont Lithium Ltd (ASX:PLL | NASDAQ: PLLLY)
▪ Charterholder of the CFA Institute and member of Institute of Chartered Accountants
▪ Mining Engineer with over 35 years of experience in developing coal resources throughout the USA
▪ Business Unit President and Vice President Engineering and Land at Peabody Energy (27 years experience), the world’s largest private sector coal company
▪ Mining Engineer with over 13 years’ experience working in the US coal industry managing continuous miner coal operations for Arch Coal and other major US coal producers
▪ MBA from the University of Pittsburgh and Bachelor of Mining Engineering
▪ Engineer with 8+ years of experience in the mining industry
▪ Senior Mine Engineer for the largest room and pillar operation in the Illinois basin (Alliance’s River View mine) mining multiple seams simultaneously with an annual clean production in excess of 8 million tons
▪ Engineer with 10+ years experience in the mining industry
▪ CHPP Manager for a 2,100 ton / hour preparation plant which washed multiple feeds from surface and underground operations to serve metallurgical, thermal and PCI markets
▪ Former General Manager of Alliance Coal, LLC, subsidiary of Alliance Resource Partners, LP and was responsible for the marketing of coal from all seven of Alliance’s Illinois Basin mining operations
▪ Instrumental in building Alliance up to a 39Mtpa coal producer which included the development of four “greenfield” coal projects
David GayPresident
Rick KimGeneral Manager
Matt HaagaCOO
Nathan Ainsworth VP, Business Development
Grant QuashaCEO
Brent HawleyProcessing Engineer
Will ScatesChief Mine Engineer
Jim PlaistedCoal Sales & Marketing
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World-Class Board
Ian MiddlemasChairman
Jonathan HjelteDirector
David GayExecutive Director
Tom ToddDirector
▪ Highly respected resource executive with extensive finance, commercial and capital markets experience
▪ Current Chairman of Berkeley Energy Limited, Prairie Mining Ltd & former Chairman of Mantra Resources Limited & Papillon Resources Ltd
▪ Mining Engineer with over 30 years of experience in developing coal resources projects covering the entire coal development chain
▪ Business Unit President at Pittston Coal Group (20 years experience)
▪ Vice President Mergers and Acquisitions and Business Development at Alpha Natural Resources, one of the USA’s largest coal producers
▪ Chief Financial Officer of Aston Resources from 2009 to November 2011 and prior to this role, was Chief Financial Officer of Custom Mining, where his experience included project acquisition and funding of project development for the Middlemount project to the sale of the company to Macarthur Coal
▪ Graduate of Imperial College, Bachelor of Physics with first class Honours
▪ Highly respected New York-based fund manager and has extensive experience in investment and portfolio management specializing inthe mining, utilities, and energy sectors. Mr Hjelte is a portfolio Manager at Citadel LLC
▪ Graduated Summa Cum Laude from Lehigh University where he received an M.S. in Statistics and a B.S. in the Integrated Business and Engineering honors program. He also holds the Chartered Financial Analyst (CFA) designation
Todd HanniganDeputy Chairman
▪ Formerly the CEO of Aston Resources Ltd and was instrumental in developing the company into one of the largest publicly listed coal companies in Australia before merging with Whitehaven Resources Limited in a deal valued at over $5 billion
▪ Graduate of the University of Queensland, holds a Bachelor of Engineering (Mining) with Honours, holds a Queensland first class mine manager's certificate and has a MBA from INSEAD
Rick McCormackDirector
▪ Previously CEO of DRA Taggart (and Taggart Global), global leaders in coal processing plants, having constructed processing capacity in excess of 250 million tons per annum since 2000, including in the Illinois Basin
▪ Registered Professional Engineer and has Bachelors of Science degree in Mechanical Engineering from West Virginia University
▪ Formerly Chief Commercial Officer of Bowie Resource Partners, LLC, the largest producer of Western bituminous coal in the UnitedStates, where he was responsible for corporate strategy, business development, sales, marketing, and logistics. NMA Board member.
▪ Bachelor of Arts degree, Cum Laude, from Harvard College and a Master of Business Administration degree with Distinction fromHarvard Business School.
Grant QuashaManaging Director
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Last, largeContiguous
Block of HighQuality Coal in Western Kentucky
Buck Creek Complex and Surrounding Historical and Current Operations
Since 2008, the Group has have secured a total of +300
individual leases, comprising of over 510 individual property
tracts and covering an area totaling almost 40,000 acres
Paringa’s permitted Poplar Grove and Cypress Mines are the
last large contiguous blocks of undeveloped low capex, high
margin coal in western Kentucky
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Annual Production1 6.6 Mtpa
Initial Total Capital2 US$45 million
Average EBITDA3 US$163 million
Net Present Value4 US$655 million
Notes:
(1) Nameplate production including both the Poplar Grove and Cypress Mines(2) Represents total initial capital of the Poplar Grove Mine, figure has subsequently increased to
US$48.5 million after locking in 90% of the capital in fixed price contracts(3) Based on steady state production, inclusive of leased equipment costs, royalties and severance taxes(4) After-tax, ungeared, discount rate of 8%
Combined BFS Results
Annual Production (Steady State) 2.8 Mtpa 3.8 Mtpa
Total Saleable Coal 67 million tons 67 million tons
Mine Life 25 years 18 years
Product Heating Content 11,200 Btu/lb 11,200 Btu/lb
Average Product Yield 76% 76.7%
Underground Mining Method Room-and-Pillar Room-and-Pillar
Construction Start Date Mid-2017 2019
First Coal Production Date Mid-2018 2021
Ramp-up Period to Full Production 12 months 18 months
Average Annual Opex (steady state) US$29.24 /ton US$27.37 /ton
Average Annual EBITDA (steady state) US$67 million US$100 million
Net Present Value (8%, ungeared) US$310 million US$315 million
IRR 42% 36%
BFS Summary (Mine Level) Poplar Grove Cypress
Final BFS Results
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Cautionary Statements and Important Information
This presentation does not constitute or form part of any offer to sell, or solicitation of any offer to buy, any securities in the United States or any other country. This presentation may notform the basis of any contract or commitment whatsoever with any person. Distribution of this presentation may be restricted by applicable law. In particular, only persons in the UnitedStates who are “qualified institutional buyers” (as defined in Rule 144A under the US Securities Act of 1933) may receive this presentation.
This presentation has been prepared by Paringa Resources Limited (“Paringa”) as a summary only, and does not contain all information about Paringa’s assets and liabilities, financialposition and performance, profits and losses, prospects, and the rights and liabilities attaching to Paringa’s securities. Any investment in Paringa should be considered speculative andthere is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future.
Paringa does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipientsof this presentation should carefully consider whether the securities issued by Paringa are an appropriate investment for them in light of their personal circumstances, including theirfinancial and taxation position.
Forward Looking Statements
Some of the statements contained in this presentation are forward looking statements. Forward looking statements include but are not limited to, statements concerning plans for itsmineral projects, exploration and development activities, development plans and timing, development and operating costs, and other statements which are not historical facts. When usedin this presentation, and in other published information of Paringa, the words such as “aim”, “could”, “estimate”, “expect”, “intend”, “may”, “potential”, “should” and similar expressionsare forward-looking statements.
Although Paringa believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties and no assurance can be giventhat actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward looking statements include the potentialthat Paringa’s projects may experience technical, geological, metallurgical and mechanical problems, changes in mineral product prices and other risks not anticipated by Paringa.
Competent Persons Statements
The information in this report that relates to Exploration Results, Coal Resources, Coal Reserves, Mining, Coal Preparation, Infrastructure, Production Targets and Cost Estimation wasextracted from Paringa’s ASX announcements dated March 28, 2017 entitled “Expanded BFS Results Confirms Development Pathway to A$850 million NPV” and December 2, 2015 entitled‘BFS Confirms Buck Creek will be a Low Capex, High Margin Coal Mine’ which are available to view on the Company’s website at www.paringaresources.com.au. The information in theoriginal ASX announcements that related to Exploration Results and Coal Resources is based on, and fairly represents, information compiled or reviewed by Mr. Kirt W. Suehs, a CompetentPerson who is a Member of The American Institute of Professional Geologists. Mr. Suehs is employed by Cardno. Mr. Suehs has sufficient experience that is relevant to the style ofmineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code forReporting of Exploration Results, Mineral Resources and Ore Reserves’ and to qualify as a Qualified Person as defined in the 2011 Edition of the National Instrument 43-101 and CanadianInstitute of Mining’s Definition Standards on Mineral Reserves and Mineral Resources.The information in this report that relates to Coal Reserves, Mining, Coal Preparation, Infrastructure, Production Targets and Cost Estimation is based on, and fairly represents, informationcompiled or reviewed by Messrs. Justin S. Douthat and Gerard J. Enigk, both of whom are Competent Persons and are Registered Members of the Society for Mining, Metallurgy &Exploration. Messrs. Douthat and Enigk are employed by Cardno. Messrs. Douthat, and Enigk have sufficient experience that is relevant to the style of mineralization and type of depositunder consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results,Mineral Resources and Ore Reserves’ and to qualify as Qualified Persons as defined in the 2011 Edition of the National Instrument 43-101 and Canadian Institute of Mining’s DefinitionStandards on Mineral Reserves and Mineral Resources.
Paringa confirms that: a) it is not aware of any new information or data that materially affects the information included in the original ASX announcements; b) all material assumptions andtechnical parameters underpinning the Coal Resource, Coal Reserve, Production Target, and related forecast financial information derived from the Production Target included in theoriginal ASX announcements continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons’ findings are presented in thispresentation have not been materially modified from the original ASX announcements.F
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Head Office: 6724 E Morgan Avenue, Suite B | Evansville | Indiana | 47715New York Office: 6 E 46th Street, 3rd Floor | New York | NY | 10017Registered Office: Level 9, BGC Centre, 28 The Esplanade | Perth | WA | 6000
Email: [email protected]: www.paringaresources.comABN: 44 155 922 010
www.paringaresources.com
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