Australia's Bowen Coking Coal finalises Queensland project deal, shares up

Bowen Coking Coal

29/12/2021 01:11

** Shares of coal miner  BCB.AX  jump as much as 8.8% to
A$0.185, highest since Nov. 2
    ** Co says it has signed a share sale and purchase agreement
with peer New Hope Corporation Ltd  NHC.AX  to buy New Lenton
Coal Pty Ltd, which holds a 90% stake in the Lenton Joint
Venture  urn:newsml:reuters.com:*:nASX6mNYPZ
    ** Lenton JV owns the New Lenton project and the Burton mine
in the north Bowen Basin, Queensland
    ** Earlier this year, BCB had signed a binding term sheet
with NHC to acquire New Lenton Coal Pty Ltd  urn:newsml:reuters.com:*:nL4N2PB0SK
    ** As of last close, stock had more than doubled in value
this year

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))