Paringa Resources Limited
(ASX:PNL) says it has executed US$220 million worth of further sales contracts.
The sales agreement is with Louisville Gas and Electric Company and Kentucky Utilities Company, two major players in the Ohio River Market.
Paringa CEO David Gay says the deal is the result of over a year of negotiations.
Pricing for coal out of the Buck Creek No 1 mine starts at US$44.50 per ton and increases to US$48.20 per tonne by 2022. Operating costs are around US$30.19 per ton.
Paringa made a net loss of $5.88 million for the 2015 financial year.
