[miningmx.com] – WATERBERG Coal Company (WCC) said it had voluntarily requested a suspension of its share on the Australian Stock Exchange as a result of discussions with banks regarding its indebtedness.
The company recently extended the maturity date of a A$35m loan through Standard Bank and other institutions which was originally raised to explore development of an Eskom dedicated mine from the Waterberg coalfields in the Limpopo Province.
WCC since altered its plans to first develop an export mine which would provide cash flow for the later Eskom mine.
“In line with its primary regulations, the company has requested a voluntary suspension of its shares on the JSE Limited. Accordingly, shareholders are advised that the Company’s shares have been suspended from the ASX and the JSE with immediate effect,” the company said in an announcement today.
