MCC really need more resources - and fast... They will hit the...

MCC really need more resources - and fast... They will hit the wall in both deposits in a nuumber of years. Underground is not really an otion giving structural faulting and their cost base.

********************************************

Macarthur in deal, Gloucester anticipates bid
Tuesday, 22 December 2009
Angie Tomlinson

AUSTRALIAN coal miners Macarthur Coal and Gloucester Coal entered trading halts this morning, with Macarthur expecting a corporate deal and Gloucester anticipating a takeover bid.

Gloucester said this morning it had entered the halt with the prospect of being the subject of a transaction relating to its control.

Noble Group took control of Gloucester this year in a $460 million unsolicited takeover. Noble now controls 87.7% of the New South Wales miner.

Gloucester said an announcement would be made before the close of business today.

Macarthur Coal said this morning it expected to make a significant announcement in relation to a material corporate transaction.

The Queensland miner recently announced it expected its profits to dive 72% for the six months to December to $30-38 million.

Despite the drop, Macarthur has been optimistic on its project pipeline, forecasting a doubling of production over the next five years.