New Hope’s most recent extension to its offer is due to end tomorrow.
NEC is on track to start production from the 500,000 tonnes per annum Colton hard coking coal deposit within its Maryborough project in 2012 and has a port allocation for this amount from the first-stage development of the Wiggins Island coal export terminal.
While the new terminal is not expected to start shipping under its stage-one capacity until 2014, NEC already holds an allocation through Barney Point for the interim period.
The explorer’s Elimatta open cut project in the Surat Basin hosts 106 million tonnes of marketable reserves with mine construction slated for late 2011.
NEC shares surged by 39.5% to $1.55 on the day the $1.50 takeover offer was announced in October.
They are unchanged at $1.85 this morning.
