ASIC takes Wollongong Coal to task over valuations

SHARES in Wollongong Coal remain suspended on the Australian Securities Exchange after Australian Securities and Investments Commission questioned the valuations of its two major assets – the Russell Vale colliery and the Wongawilli colliery in New South Wales.

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ASIC takes Wollongong Coal to task over valuations ASIC takes Wollongong Coal to task over valuations ASIC takes Wollongong Coal to task over valuations ASIC takes Wollongong Coal to task over valuations ASIC takes Wollongong Coal to task over valuations
Wollongong Coal has Russell Vale on its books at $390 million and Wongawilli at $385 million. 
 
However, ASIC is questioning the "reliability of the fair value estimate".