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Miner NWR head says wants to complete stakeholder talks in second quarter

Reuters - UK Focus

PRAGUE, Feb 24 (Reuters) - Czech miner New World Resources (LSE: NWR.L - news) (NWR) wants to complete talks with stakeholders on the future of the company in the second quarter, Executive Chairman Gareth Penny said on Wednesday.

NWR has been in talks with creditors and other stakeholders on a restructuring to secure a viable capital structure and slim operations to keep it going amid low global coal prices.

Penny said bondholders have been supportive in discussions.

He also said in an interview that parts of the company were still viable even at today's low coal price levels and that the company would decide on the closure of its Paskov mine in the second quarter. (Reporting by Jan Lopatka; Writing by Jason Hovet; Editing by Louise Heavens)