1st May 2014 13:46
LONDON (Alliance News) - Wildhorse Energy Ltd Thursday said it still hasn't finalised the transaction to sell its underground coal gasification assets to Linc Energy Ltd, having signed a binding heads of agreement back in February.
The developer of underground coal gasification and uranium projects in Hungary and central Europe signed a binding heads of agreement back in February to sell the assets to for AUD4.04 million.
Wildhorse Energy said Thursday that both parties are continuing to look to finalise the transaction, and further news regarding the heads of agreement will be provided in due course.
The group said it continues to examine all scenarios regarding the development of its Mecsek Hills uranium project.
"To date we have received the Hungarian Government's support for the development of a joint venture between the company, Mecsekérc, and Hungarian Electricity Ltd, the owner of Paks Nuclear Power Plant, to evaluate the necessary conditions to restart uranium mining," the company said in a statement.
Wildhorse Energy shares were up 3.7% at 1.04 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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