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Linc Energy in talks to sell Queensland coal asset
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26th May 2011
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PERTH (miningweekly.com) − ASX-listed Linc Energy on Thursday confirmed that it was in discussions with interested parties regarding the possible sale of its Teresa coal asset, in Queensland.

In response to media speculation, Linc said that it was conducting a competitive bidding process with “a number of parties” from “a number of geographic locations” for the potential sale of the coal asset.

However, the company added that the process remained commercial in confidence, and while well advanced, no binding or unconditional contracts of sale have been agreed upon with any specific party.

“Linc Energy is talking to a number of parties about a potential sale of the Teresa coal asset,” said CEO Peter Bond.

“I am confident of a very good sale outcome, but we will not be announcing any details of any deal until it is nailed down to a point of being unconditional with some money in the bank,” Bond added.

The Teresa tenement covers some 357 km2, and hosts an indicated resource of 25-million tons and an inferred resource of 285-million tons of thermal and coking coal product.
 

Edited by: Mariaan Webb

 

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