Watermark, the AIM-quoted company that focuses on the treatment of acid mine drainage in South Africa, has released a statement regarding its investigations into alternative applications of its proprietary water treatment technology.
"The board is undertaking diligence on the anthracite project and is also investigating a number of means of funding these projects, including via a joint venture or partnership, which might allow Watermark's shareholders to benefit from participation in the projects without the need for Watermark to raise additional equity funding," the firm said.
Watermark is also currently evaluating a coal project in KwaZulu Natal.
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The company added that the board remains confident in the commercial value of its water treatment technology and its efficacy in a range of applications.
The share price rose 1.64% to 0.31p by 09:26.
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