MARKETS

CH4 cagey on share placement

TRADING in the shares of CH4 Gas Ltd has been halted until next Monday while the ASX-listed compa...

Staff Reporter
CH4 cagey on share placement

The placement is not intended to raise capital for CH4's involvement in a proposed power plant in the Bowen Basin, Queensland, the company told EnergyReview.net. But CH4 refused to elaborate on what the funds would be used for.

"We can't say too much at this stage, but it's not for North Goonyella [power station]," a spokesman told ERN.

The Brisbane-based company asked the ASX to grant the trading halt this morning until an announcement regarding the company’s placement arrangements or the commencement of ASX trading next Monday.

Last week CH4 Gas, Ergon Energy and Peabody Energy Australia Coal announced they were investigating the feasibility of developing a A$30 million, dual-fuelled 30MW power plant at Peabody’s North Goonyella mine, south-west of Mackay.

CH4 said the plant would initially be diesel-fired but could potentially use coal bed methane from mine drainage and gas extracted from seams on the mining lease. Ergon would own and operate the plant, selling electricity to Peabody and putting surplus electricity back into the grid system. CH4 would provide expertise in gas production and gathering.

EnergyReview.net

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production