Polish Prairie Mining Ltd with PLN 232 mln funding

Praire Mining Ltd has acquired a strategic investor for the development of the Lublin Coal Project.  In line with the agreement, the CD Capital private equity fund will invest up to AUD 83 million, which translates to roughly PLN 232 million, in the project, a press release read. The Lublin Coal Project is a large scale thermal and semi-soft coking coal project with a current Coal Resource Estimate of 1.6 billion tonnes across four coal exploration concessions in southeastern Poland. CD Capital will take over 30 percent of the firm's shares, and "the exercise of the options will result in CD Capital acquiring an additional 15 percent shareholding," a press release read. Prairie Mining Limited is an emerging Polish coal developer focused on the exploration, evaluation, appraisal and development of the Lublin Coal Project.