JSE-listed coal junior Keaton Energy has received an offer to acquire the entire issued share capital and claims against Leeuw Mining and Exploration and Amalahle Exploration, which constitute the company’s KwaZulu-Natal (KZN) assets.
The KZN assets consist of the operating, yet embattled Vaalkrantz colliery, the Koudelager coal project, the Balgray coal project and the Mooiklip coal project.
The Braakfontein coal project, held under Leeuw Braakfontein Colliery is specifically excluded from the proposed transaction.
In the cautionary announcement, Keaton advised its shareholders that the proposed transaction, if successfully concluded, may have an effect on the price at which the company’s securities trade on the JSE Limited.
Accordingly, Keaton advised shareholders to exercise caution when dealing in Keaton shares until a further announcement is made.