LONDON (ShareCast) - The pre-feasibility study at the Daguma coal project in the Philippine is progressing ahead of expectations and according to schedule, said Dwyka Resources today.

Study manager Sedgman Limited is on track to report a pre-feasibility study by 12 September. The outcome of an engineering site visit was “extremely positive,” said Dwyka.

“The terrain is well suited to the establishment of the required facilities and this bodes well for project development.”

“We are delighted to see the logistics of this coal project exceeding our expectations and that the delivery of the pre-feasibility study remains on schedule which will enable us to continue to move forward with the project,” said CEO Melissa Sturgess.

“At this early stage we remain confident in our ability to readily deliver production from Daguma to the coast for transport to export markets.”

Broker Ambrian remains positive. It reckons the 5,000m drill programme, started mid-August, and results, followed by a JORC resource, represent the most likely near-term price driver for Dwyka.

It is also looking for god news from the Muremera nickel project and the SwaziGold project.

• News Channel