Coal news and updates

Paringa Resources to list shares in US

Australia-based coal exploration and production company, Paringa Resources, has qualified for listing on the OTXQX Best Market under the symbol “PNGZF”, according to a press release from the OTC Markets Group.

“We are pleased to welcome Paringa Resources to the family of established investor-focused US and international companies on the OTXQX market,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “Trading on OTCQX will enable Paringa to expand its visibility and shareholder base in the US by providing US investors with efficient trading and convenient access to its news and financial disclosure.”

Paringa Resources is developing the Buck Creek mining complex in the Illinois Basin.

“The Buck Creek mining complex is an important new coal development for the region, which relies heavily on thermal coal for baseload power,” said Paringa’s President and CEO, David Gay. “We recognise the strong interest from US institutional, sophisticated and retain investors […] and the OTCQX Market quotation will provide the opportunity for these investors to trade conveniently during normal US trading hours.

source: http://www.worldcoal.com