coal deals

Does anyone know how the coal quality at rac below compares to berenice?

Current share price performance is terrible!


Forbes will acquire 74 percent of the Zululand Anthracite Colliery (ZAC), a producing anthracite mine, and the Riversdale Anthracite Colliery (RAC), an undeveloped anthracite resource, the company said.

The transaction involves a base payment of 440 million rand ($54.08 million). In addition, Forbes will also pay an annual revenue share of 10 percent on incremental revenue above 850 million rand until 2025.

"The acquisition of ZAC significantly accelerates Forbes Coal's goal of becoming a 3-4 million metric tons (3.3-4.4 million tons) producer ... we expect to be producing almost 2.5 million tonnes in less than a year's time", Chief Executive Stephan Theron said in a statement.

The ZAC mine has produced an average 700,000 tonnes of coal per year over the last five years, the company said.