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Australian Pacific Coal: Receives $33M offer for Trepang

May 13, 2021

Australian Pacific Coal (AQC) has received an offer of just over $33 million for its Trepang property
The offer from Trepang Services is for both the property and water rights but would still allow AQC access to the property for operating it Dartbrook Coal project
The offer has made by Trepang on the basis that proceeds will used to repay a roughly $89.9 million debt that AQC owes to Trepang and its associates
AQC has until June 30 to accept the offer before it lapses
Under the agreement, AQC will still be able to access the sold properties and a term transfer of relevant water rights for the purposes of operating its Dartbrook Coal project
Australian Pacific Coal last traded at 13.5 cents