Linc Energy Ltd
(ASX:LNC) says it is in negotiations with a number of parties regarding the sale of its non-core Queensland coal tenements.
According to media reports, the underground coal gasification company is considering a deal with India’s Adani Enterprises.
The company advises that it has not as yet concluded any binding contract or finalised any material terms, with negotiations remaining in commercial confidence.
Linc made the announcement to the ASX in response to the company’s share price and volume increase on Wednesday.
Linc Energy posted a loss of $42.18 million for the year ending 30 June 2009.
