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The Management Board of Jastrzębska Spółka Węglowa S.A. _ “JSW”, “Company” _ informs that on October 10, 2018, JSW continued its discussion with Prairie Mining Limited “Prairie” regarding potential cooperation or transactions regarding Prairie coal projects in Poland. The conversations take place after the six-month stage of technical information exchange – which the Company informed in the current report No. 11 / 2018_.
As a result of the project study, Jan Karski confirmed that part of the “Lublin” deposit contains type 34 (semi-soft) gas-coking coal, which can potentially be used by JSW. The study also confirmed the technical possibilities and potential synergies associated with the availability of coal seams from the Dębieńsko deposit using the infrastructure of the neighboring Knurów-Szczygłowice mine. The use of these synergies would involve the necessity to modify the technical conditions of the undertaking and obtain the necessary changes in administrative decisions, including concession decisions. According to JSW, the Szczygłowice Movement infrastructure potentially enables coal mining from the Dębieńsko deposit to 500,000. tons of 35 type ortho-coke coal per year, within 18 months of obtaining the required administrative decisions and changing the concession.
There is no certainty that the talks will lead to the conclusion of any contract, nor is there any certainty as to the form of any transactions.
It should be emphasized that the potential transaction or transactions, if it occurs, may depend on meeting a number of standard conditions, including: obtaining positive assessments and expert opinions, necessary corporate approvals, approvals and approvals regarding financing, consents of the Competition Office and _UOKiK_ Consumers, if they are required, and fulfillment of any other requirements related to the strategy, objectives and regulations applicable to each issuer.
The companies will comply with their obligations to provide the required information to the markets.