White offloads US mine for $5.3M

WHITE Energy has sold its 51% interest in Mountainside Coal Company in the US to Kentucky-based miner Clay Laurel Mining for a total consideration of US$4.06 million, which equated to A$5.3 million.

White offloads US mine for $5.3M White offloads US mine for $5.3M White offloads US mine for $5.3M White offloads US mine for $5.3M White offloads US mine for $5.3M

MCC had additional permits in various stages of approval.

A US dollar deposit equivalent to A$2.9 million was released on completion, with $2 million received by White Energy and $0.9 million placed in escrow and released to the company in July.