Media Room

Tempus raises exploration cash

Junior Tempus Resources will raise A$4-million through a share placement to fund exploration work in Ecuador and Canada.

The company on Monday said that it had completed a book build for the issue of some 26.16-million shares, at a price of 15.3c each, with shares to be placed to sophisticated and institutional investors.

TerraCom moves to exit Mongolia

ASX-listed TerraCom has moved ahead with its plans to exit Mongolia, inking a binding term sheet to divest of its Baruun Noyon Uul (BNU) coal mine for $2.

Under the terms of the agreement, Singapore-based buyer Bridge Resources will also accept a net $15-million of existing liabilities within the BNU business structure.

Push to liquidate Murray means coal mines will close, union says

Consol Energy’s effort to push rival coal company Murray Energy into liquidation is aimed at shuttering mines and reducing output in an oversupplied industry, according to the largest US coal miners’ union.

“Liquidation plays to the benefit of all the competitors in the region,” United Mine Workers of America president Cecil Roberts said during an online news conference Thursday.