Cockatoo Coal Limited
(ASX:COK) subsidiary SW QLD Energy Limited has completed the sale and transfer of its Kingaroy Tenement.
The transaction is subject to government approval and the finalisation of due diligence on the tenement transfer.
The sale of the Kingaroy Tenement in Queensland forms part of Cockatoo’s strategy to focus on the expansion of its flagship metallurgical coal mine at Baralaba.
Following the sale of this non-core asset, Cockatoo will maintain positions within the Surat Basin via various wholly owned coal projects.
Cockatoo Coal reported a net loss of $25.5 million to 30 June 2015.
