Modun Divests Mongolian Coal Project

News: Australian coal mining firm Modun Resources has sold its Nuurst thermal coal project in Mongolia for around AUD2.21mn (USD1.63mn). Modun signed an agreement with two Mongolian nationals to sell its unit Modun Resources LLC, which owns the Nuurst project, earlier in July 2015. The company would receive the first AUD100,000 (USD73,964) of the cash consideration on exchange of contracts. The payment would act as a deposit. The transaction's completion is contingent to shareholder...

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