Owner of Alchemy Jon Moulton is believed to be annoyed over UK Coal’s stock exchange statement last week that tentative takeover talks were over. According to The Observer newspaper, Moulton was still keen to pursue a bid for the company but wanted more information from the mining company on which to base his bid.

The approach made earlier this year to UK Coal was reportedly from a private property company, though UK Coal believes Alchemy was also associated with this initial offer.

Moulton’s next step is to approach Dresdner Kleinwort Benson, UK Coal's financial adviser, to obtain the data necessary for making a bid.

UK Coal meanwhile said it had not received a written approach from Alchemy and had asked for further clarification, but that this was not forthcoming.

According to some reports, property developer St Modwen also expressed interest in some of UK Coal’s properties and made a formal bid on at least one site.

Alchemy’s only connection with mining is through opencut mining operation ATH Resources.

Shares in UK Coal closed up 6p at 128.5p.