The merge will create a company with significant coal assets and with the two current operating mines yarabee & ashton will more than double coal sales to 3.3mtpa with minerva starting next year with 2 other deposits 100% held to come on line in the future. They also have patents over clean coal technology and a pilot plant in nsw.
Felix to issue 820,000,000 new shares to white mining in consideration followed by a 1 for 10 share consolidation next year. 55.3% of felix to be issued to white mining.
possible capital raising in the future
with the strength of coal sales and prices which look to continue into 2006 & longer..... together with managed funds transferring out of newscorp..... this new company may well spring up on the radar of these fund managers.
high high tommorrow? anyones guess
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