LINC SELLS GALILEE COAL TENEMENT FOR $3 BILLION bundabum ? Linc Energy sells its 100% interest in the Galilee coal tenement (EPC 1690) to Adani Mining Pty Ltd, a wholly owned subsidiary of Adani Enterprises Ltd ? Sale price of $500 million in cash up-front, plus a royalty of $2 per tonne (indexed to CPI) over 20 production years ? Total estimated revenue from the sale of approximately $3 billion over the life of the royalty ? The sale to Adani represents the largest single investment by an Indian company into Australia
Depends on production but 60m tons in 2020 = $120m of todays money.
LNC Price at posting:
$1.97 Sentiment: Hold Disclosure: Held