LONDON (Alliance News) - Wildhorse Energy Ltd saw its shares rise early Monday after it signed a binding heads of agreement to sell its underground coal gasification assets to Linc Energy Ltd for AUD4.04 million.
The developer of underground coal gasification and uranium projects in Hungary and central Europe will hold an interest in its Mecsek Hills Uranium Project in Hungary after the deal, but its shareholders would also keep exposure to the coal gasification assets because Linc would pay for the assets by issuing a stake to Wildhorse Energy.
Wildhorse Energy shares were up 5.7% at 1.85 pence early Monday.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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