Key Developments: Metrocoal Ltd (MTE.AX)
0.08AUD
17 May 2013
$0.00 (+2.67%)
$0.08
$0.08
$0.08
$0.08
7,500
309,249
$0.32
$0.07
Latest Key Developments (Source: Significant Developments)
MetroCoal Limited Signs Binding Agreement With Australia Pacific LNG
MetroCoal Limited (MTE) announced that it has entered into a binding agreement with Australia Pacific LNG (APLNG) which provides the Company with a clear path to a future Mining Lease in its Norwood Project area. In consideration for MTE supporting the grant of petroleum licenses within the overlapping area, APLNG and MTE have agreed, in relation to Norwood Project Area, that at the appropriate time, they will negotiate mutually acceptable co-development arrangements. In the absence of reaching a mutually acceptable agreement in a timely manner, the parties will opt in to the overlapping tenure regime as envisaged in the document sponsored by the Queensland Resources Council which was lodged with the Queensland Department of Natural Resources and Mines on May 17, 2012. Full Article
Metrocoal Ltd Announces No FY 2012 Final Dividend
Metrocoal Ltd announced that there were no dividends paid or declared for the financial year 2012. Full Article
MetroCoal Limited Announces Retirement Of Chairman
MetroCoal Limited announced that Mr. David Barwick will retire as Chairman of the Company and as a Director, effective June 30, 2012. Full Article
MetroCoal Limited Commences Drilling Program In Bundi Project Area
MetroCoal Limited announced that the fiscal 2012 drilling program in the Bundi Project Area has begun as planned, with no effect from weather experienced elsewhere in Queensland. The 2012 Bundi program has allowed for up to 80 holes to be drilled. The second phase of the program will include additional holes aimed at identifying our first Measured Resource. The Bundi Project Area is located in the northern part of EPC1164 and includes several sub blocks from the adjoining EPC1251 and EPC1609. The Juandah project area is also located in EPC1164, adjacent to the south east corner of the Bundi Project. The Bundi Project has expanded as EPC1609 has now been granted to the Company. Full Article
MetroCoal Limited Announces Holding Interest Of DADI Engineering Development (Group) Co Ltd
MetroCoal Limited announced that DADI Engineering Development (Group) Co Ltd has an interest of 32,000,000 ordinary shares, which represents 15.3% of voting power in the Company. Full Article
MetroCoal Limited Announces Placement Of AUD 24 Million
MetroCoal Limited announced that it has secured a placement of 32.0 million shares to DADI Engineering Development (Group) Co Ltd at AUD 0.75 per share to raise a further AUD 24.0 million. The funds raised will be used to further develop Company's coal projects in particular its Bundi project and its investment in Tenement to Terminal Limited and other infrastructure solutions. Full Article
MetroCoal Limited Not To Pay FY 2011 Final Dividend
MetroCoal Limited announced that there were no dividends paid or declared during the year ended June 30, 2011. Full Article
Reliance Power Limited And Others In Race For MetroCoal Limited-The Economic Times
The Economic Times reported that three Indian companies, including Reliance Power Limited, Aditya Birla Group's Essel Mining and the RPG Group, have been shortlisted for final round discussions to buy a strategic stake in Australian coal mining firm, MetroCoal Limited. The Company plans to raise $600-700 million from the sale. MetroCoal has put two of its thermal coal bearing blocks with proven reserves of 1.2 billion tonnes, up for sale and has invited expressions of interest from suitable companies. According to people familiar with the development, the three Indian companies along with at least two other foreign companies have been shortlisted for the final round of talks. Full Article
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