Monday, June 21, 2021

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Australian Pacific Coal: Receives $33M offer for Trepang

  • 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

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