Schultz Partners facilitates backdoor listing of NSW coal asset

SP facilitated a reverse listing or ‘backdoor listing’ of a significant $100m+ thermal and coking coal asset on to the ASX. Specific responsibilities included listing vehicle identification and negotiation. As of 1 st of April, 2010 the company is trading at a 20% premium to its listing price with a market capitalisation of over $125 million (see ASX:NCR).

NuCoal is an emerging coal producer based in Newcastle, NSW, Australia. The company’s focus is on generating sustainable long term stakeholder wealth through the development of its wholly owned coal asset, Doyles Creek (Hunter Valley, NSW) and through the establishment of a specialised coal centric training facility run in parallel with the operation of the company’s proposed mining operations.

The 100% owned Doyles Creek Project contains a 247.1 mT JORC inferred resource of high quality thermal and semi-soft coking coal. It is strategically located adjacent to many world class operating coal mines in the lower Hunter Valley; all coal seams proposed to be mined are currently marketed by other companies and have a long history of export from Australia. The company boasts an experienced board and management team with expertise in the exploration, development and operation of underground coal mining projects in Australia, and specifically the Hunter Valley.

A $10m capital raising was completed under a Prospectus offer on the 17 th February, 2010 to continue drilling and expand the mineral resource base.



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