Linc Energy close to sale, shares rally
March 4, 2010
Linc Energy Limited (LNC) updated the market this afternoon, saying that its efforts to sell the coal tenements at Emerald, Pentland and Galilee was progressing albeit more slowly than hoped. Despite discussions continuing, and some at an advanced stage, the company said it was focused on getting fair value for the tenements.
The company said it had even received a written offer for the assets, however the demand of a sizeable deposit had held up the sale.
Linc Energy also has commissioned a Brisbane-based consultancy MineCraft to determine the value of the Theresa resource based on proposed mine development and their assessment of long-term coal pricing.
”The conservative central case valuation of the project/asset was estimated by MineCraft to be A$529M (A$NPV),” the company said.
At 1444 AEDT, Linc Energy shares were up 17c, or 11.5% to $1.65.
The company said it had even received a written offer for the assets, however the demand of a sizeable deposit had held up the sale.
Linc Energy also has commissioned a Brisbane-based consultancy MineCraft to determine the value of the Theresa resource based on proposed mine development and their assessment of long-term coal pricing.
”The conservative central case valuation of the project/asset was estimated by MineCraft to be A$529M (A$NPV),” the company said.
At 1444 AEDT, Linc Energy shares were up 17c, or 11.5% to $1.65.
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