GYM gympie gold limited

gympie sells its coal assetts

  1. Hanrahan
    47,086 Posts.
    clock Created with Sketch.
    13/10/04
    12:08
    Post #: 612752
    Chinese buy Gympie's coal asset

    Tuesday, October 12, 2004

    FAILED miner Gympie Gold's Southland coal operations in the Hunter Valley have been snapped up by Chinese company Yanzhou Coal Mining Co for US$23 million.

    Media reports said Yanzhou would spend more than $100 million redeveloping the coking coalmine to around 2 million tonnes per annum capacity. The Chinese company is believed to currently produce around 40 million tonnes per annum.

    Gympie went into voluntary administration and receivership after fire ravaged the colliery in December 2003.

    The sale of the colliery to Yanzhou is expected to take six to eight weeks to complete.

    Click here to read the rest of todays news stories.


    GYM Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
    Likes Created with Sketch.  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

  2. Top Stories

 

Featured News

BIO Biome posts record sales revenue of $13M in FY24 – up 80% vs pcp and higher than forecast
right-arrow Created with Sketch.
NEWS Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25
right-arrow Created with Sketch.
LRV Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%
right-arrow Created with Sketch.
LLL Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng
right-arrow Created with Sketch.
AVA Ava Risk Group expands US presence with A$0.7M Substation Deal
right-arrow Created with Sketch.
ITM iTech lifts MRE at Eyre Peninsula Graphite Project by 300%
right-arrow Created with Sketch.
watchlist Created with Sketch. Add GYM (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.