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Sentula, auctioneer agree to R266m book value for Megacube equipment

18th January 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – JSE-listed Sentula on Friday said the book value of now-closed subsidiary Megacube Mining’s remaining movable equipment had been agreed at R266-million.

The mining services provider and coal miner aimed to auction much of Megacube’s plant and equipment after the loss-making mining services subsidiary ceased operations during the six months ended September 2012.

Ritchie Bros Auctioneers was expected to offer the equipment for sale at an unreserved public auction starting March 20.

The final list of equipment, which was initially estimated to have a value of R300-million, was still to be agreed between the parties.

Edited by Creamer Media Reporter

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