Carpentaria sells FTB coal interest

摘要

BOOSTING funds for exploration and development of the Hawsons Iron Project in the far west of New South Wales, Carpentaria Exploration is selling its 20% stake in FTB (Old) to majority owner Guildford Coal. FTB owns part of the Hughenden Coal Project in Queensland's Galilee Basin. Total consideration comprises Aus$1.5 million cash, Aus$2.5 million equivalent of fully paid ordinary Guildford shares and retention of an Aus$0.50 per tonne royalty on coal production from the tenements, capped annually at 10 million tonnes for 20 years with a potential value of up to Aus$100 million.