MetroCoal has previously advised that SinoCoal has a pre-emptive right over all of MetroCoal's existing EPCs. SinoCoal wishes to concentrate its focus on the highly prospective JV on the Columboola tenement (EPC 1165), at this time. SinoCoal's approval is only for EPC 1164 and they retain their pre-emptive right to MetroCoal's other EPCs.
SinoCoal's approval for MetroCoal to seek a JV partner for EPC 1164 has certain commercial in confidence parameters. MetroCoal Chairman, David Barwick said "we are grateful for SinoCoal's approval and we are comfortable with the commercial terms of their approval. It is very important to note that we continue our strong cooperation with SinoCoal on our Columboola JV."
MTE Price at posting:
69.5¢ Sentiment: LT Buy Disclosure: Held
