Idalia Coal Pty Ltd is a private company so you will not find it on the ASX. It is limited by shares but a private company may only have a handful of shares. But these handful of shares constitute the whole entity. The owners will receive 200 000 000 EER shares at an agreed value of 20 cents per share or around $40 million. Idalia Coal is already owned by EER's two largest shareholders so they are simply increasing the size of EER for benefits best known by them. The smaller shareholders now have the benefit of being in on the ground floor for the growth of a very large Australian Coal company. With Noble's impressive track record I couldn't think of a better long term opportunity.
EER Price at posting:
16.0¢ Sentiment: LT Buy Disclosure: Held
