re: Ann: Quarterly Cashflow Report and Activi...
todays announcement says it all
1. Finalised sale of small aussie coal asset for $10m cash boosting cash at bank
"Easterns 90% interest was sold for a consideration of AUD$8.5 million."
2. Will continue to work on its Qld CSG assets where AGL are carrying us through exploration
"The sale of this asset underpins Easterns strategy to exit coal in Australia to fully focus on developing its coal seam gas assets held through subsidiary Galilee Energy Limited (Galilee)."
3. And we have a profitable and undervalued imo coal operations in NZ
"The Company continues to operate a profitable coal business in New Zealand with two operating mines selling coal to the large industrial thermal market in the South Island. Eastern also intends to develop the Whareatea West exploration permit, targeting an export coking coal market."
ECU Price at posting:
29.0¢ Sentiment: LT Buy Disclosure: Held
