The potential future revenue mentioned in our recent SGX release was based on a 614Mt resource, this being the JORC code compliant resources of three mines combined - Blair Athol, Teresa and Pentland coal mines. This estimated revenue will obviously be dependent on how each of these mines are developed and if the Blair Athol acquisition completes. New Emerald Coal, under the control of United Mining Group, has aggressive growth plans for development in place and they expect to complete the acquisition of Blair Athol coal mine in the coming weeks.
Generally, the market does require an indication as to the size of the overall transaction, even if it is not an absolute figure, and our past experience has shown that if we do not include an estimate of the transaction, we are inundated with requests for this information. We would prefer to state a more final figure, but as this is not possible in this particular instance, this estimation was included.
LNC Price at posting:
99.5¢ Sentiment: Buy Disclosure: Held
