Resource Wrap: 29 March 2010 – MCC, CNX
March 28, 2010
Macarthur Coal Limited (MCC) said it would lift the declarations of force majeure announced on 19 March 2010, following the resumption of rail services to and port services at Dalrymple Bay Coal Terminal. The company reiterated its previously advised full year sales forecast range of 4.8 million tonnes to 5.0Mt despite having to declare force majeure.
Carbon Energy Limited (CNX) announced that Pacific Road Resources Fund has agreed to acquire 10% of the company from CSIRO in an off market trade. Carbon Energy said it owns or has exclusive rights to all the intellectual property rights to CSIRO's UCG technology and would continue to work closely with CSIRO. Following the transaction the company said its major shareholders would be Incitec Pivot Limited (11.3%), Pacific Road Resources Fund (10.0%) and CSIRO (4.8%). The US$320 million Pacific Road Resources Fund invests in mining projects, related infrastructure and services businesses, either as a direct investor or joint venture partner, and is managed and advised by private equity manager Pacific Road Capital.
Carbon Energy Limited (CNX) announced that Pacific Road Resources Fund has agreed to acquire 10% of the company from CSIRO in an off market trade. Carbon Energy said it owns or has exclusive rights to all the intellectual property rights to CSIRO's UCG technology and would continue to work closely with CSIRO. Following the transaction the company said its major shareholders would be Incitec Pivot Limited (11.3%), Pacific Road Resources Fund (10.0%) and CSIRO (4.8%). The US$320 million Pacific Road Resources Fund invests in mining projects, related infrastructure and services businesses, either as a direct investor or joint venture partner, and is managed and advised by private equity manager Pacific Road Capital.
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