AGORACOM News Flash

AGORACOM WIRE - TUESDAY MAY 29TH, 2012

CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

SONOMAX completes $3 million equity financing Caisse de dépôt et placement du Québec contributes a significant portion of financing

“Sonomax Now A Proven Commodity In The Mining Sector”
Read Full Press Release; Read Why Sonomax?
Jump Into Active Discussion Forum
*Sponsor*

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc. Read More | *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR

Message: Signs Memorandum of Understanding on Sale of Crossville Coal Inc.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23987

Rating: [?]

Votes: 222 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Signs Memorandum of Understanding on Sale of Crossville Coal Inc.

posted on Mar 31, 09 02:54PM

March 30, 2009

Hillsborough Resources Limited Signs Memorandum of Understanding on Sale of Crossville Coal Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) - Hillsborough Resources Limited (TSX:HLB) (the "Corporation") has signed a Memorandum of Understanding with a Tennessee contracting company with respect to the sale of Crossville Coal Inc. The sale is subject to securing a contract for fly ash disposal on the Crossville mine site, a process that is currently underway. Should the sale complete, the Purchaser would assume all past and future reclamation liability for the mine site, such that bonding totaling USD $3.15 million would eventually be returned to the Corporation. It is contemplated that the sale could conclude in 3 to 6 months.

About the Corporation

Hillsborough Resources Limited is a coal mining company that:

- Operates the 500,000 tpy Quinsam underground thermal mine near Campbell River, British Columbia, serving the local and west-coast U.S. cement industry with increasing sales into the export market.

- Is a limited partner in the Peace River Coal Limited Partnership (with 14.1%), which has substantial metallurgical coal properties both in production (Trend Mine) and under development near Tumbler Ridge, British Columbia.

- Owns the Crossville Mine in Tennessee, which remains in reclamation at this time.

- Holds the Wapiti thermal coal property north of Tumbler Ridge, and is planning development of a mine.

- Holds the Bingay Creek metallurgical coal property located in the Elk Valley region of southeast British Columbia.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »