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BRIEF-Modun Resources updates on sale of Mongolian coal assets

Published 22/07/2015, 09:45 am
© Reuters.  BRIEF-Modun Resources updates on sale of Mongolian coal assets
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July 22 (Reuters) - Modun Resources Ltd MOU.AX :

* Sale of mongolian coal asset MOU.AX

* Deal for consideration $2.2 million

* Says entered into a highly conditional sale agreement to dispose of its nuurst thermal coal project

* Says now terminated agreement on its terms as a result of being unable to agree the terms of the formal sale agreement with the mongolian purchaser

* Says parties had originally entered into the agreement in November 2014

* Says parties have been unable to agree formal terms and the company has elected to terminate the transaction

* Executed conditional share sale agreement with two mongolian nationals for the sale of all the shares in modun's 100% owned subsidiary Modun Resources llc

* Source text for Eikon ID:nASX6m0R5H

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