Regency Mines agrees to invest in Alabama coal mine
Source - SMW
Regency Mines has been given an option by US Carbon Resolutions to buy the 80% of Carbon Minerals it doesn't already own.
Carbon Minerals is the owner of the Rosa metallurgical coal mine and wash plant in Alabama.
The option was offered in consideration of a refundable advance of £34,800 by Regency, the company said.
Regency would now have a period of 60 days in which to carry out due diligence, after which it could acquire the Rosa mine, including the wash plant and other associated property, for £250,000.
At 8:19am: (LON:RGM) Regency Mines PLC share price was 0p at 0.65p