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GUF shares up more than 25% in opening hours. $17M consideration for 70% stake with $7M ($6M cash, $1M scrip) upfront for 20%.
Guildford Coal (ASX:GUF) To Acquire Significant Thermal And Coking Coal Assets In Mongolia
Sydney, Mar 31, 2011 (ABN Newswire) - Guildford Coal Limited (ASX:GUF) has reached a binding agreement for the acquisition of a 20% stake in Terra Energy LLC, a Mongolian based company that holds exploration permits containing two potentially significant thermal and coking coal projects in Mongolia. Guildford also has the option to increase its stake to 70% within 6 months from the commencement of drilling, which is scheduled in April 2011.
"Mogi" Munkhdul Badral
CPS International LLC
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