AQA aquila resources limited
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News: Aquila reaches resolution

  1. FNN News
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    27/03/12
    08:20
    Post #: 9897699
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    Coal explorer Aquila Resources Limited (ASX:AQA) says its wholly owned subsidiary, IP Coal Pty Ltd has reached a resolution with Vale Australia.



    The two parties were in dispute over their rights to the Isaac Plains coal mine. IP Coal has agreed to enter into a lifting agreement with Vale Australia effective until June next year.



    Aquila placed its shares in a trading halt yesterday pending a resolution with Vale for the Isaac Plains coal mine.



    In the 6 months to Dec 2011, Aquila reported a net loss of $30 million.

     


    AQA Price at posting: $4.94 Sentiment: None Disclosure: Held
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