Responding to media speculation, Carabella Resources Limited (ASX:CLR) has confirmed that since listing in late 2010 it has received several unsolicited expressions of interest in its Grosvenor West coking coal project in Queensland.
The explorer says it has set up a data room to allow a select group of interested parties to access information under confidentiality arrangements.
Carabella says due diligence investigations have only recently started and there is no certainty an acceptable proposal will arise.
The Grosvenor West coking coal project is located nearby coal projects owned by BHP Billiton Limited (ASX:BHP, NYSE:BHP, LON:BLT), Peabody Energy and Anglo American.
Shares in Carabella Resources jumped 12.84 per cent yesterday, closing at $1.89.
In the year to the June 30, 2011 Carabella Resources booked a net loss of $5.7 million.
