Australian Pacific sets new deadline for Dartbrook sale

11th August 2022 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – ASX-listed Australian Pacific Coal and its major shareholder and creditor Trepang Services have extended the transaction date for the Datrbrook coal project until August 23.

Australian Pacific Coal in April unveiled an offer from Trepang to purchase the Dartbrook coal project, in New South Wales, which would result in Australian Pacific Coal’s consolidated liabilities reducing by some A$65-million, and the company receiving royalties from the net profits of the Dartbrook project of between A$2.50/t and A$5/t, based on the average coal price per quarter.

Australian Pacific Coal shareholders are expected to meet on August 22 to consider the offer.