New World Resources fails to announce first quarter results

New World Resources (NWR) said Wednesday that it is not in a position to announce first quarter results. The results were due to be announced on May 18. NWR, the biggest shareholder in the Czech hard coal mining company, OKD, said results could not be made public as planned due to the filing for insolvency made last week for the mining company. Trading of NWR shares have been suspended on London, Prague, and Warsaw exchanges. An insolvency manager for the mining company, which employs around 10,000 in the Moravia-Silesia region, has already been appointed.

Author: Chris Johnstone