The project is a 50:50 venture with Renison Consolidated Minerals with Northern Energy being the sole financer and manager of the project until yesterday's deadline, after which the project will be co-funded.
Divided into two separate project areas, the Ashford Coking Coal Project comprises a mine area with an inferred 18 million tonne resource and a separate exploration area.
The companies are considering developing the resource with a possibility of working with other deposits in the area proven by third parties.
