Wollongong Coal is looking to improve its troubled finances which could be further hit by a long list of fines and unresolved legal claims worth more than $40 million by selling off just under 200 hectares of colliery land at West Dapto.
Posting a half-yearly loss of $23.7 million, the Illawarra miner has also outlined plans to ramp up production at its Wongawilli colliery.
Wollongong Coals (WLC) half yearly report, to September 30, was lodged with the stock exchange late on Friday afternoon, after the ASX halted trading earlier that day due to the failure to submit the document.
Read more: Wollongong Coal suspended from trade on ASX
It reveals the company is investigating the sale of 175 hectares of its non-core land at Wongawilli for a f…
Read the full article at: http://www.illawarramercury.com.au/story/5101175/wollongong-coal-to-sell-wongawilli-mine-land-after-237-million-loss/
