Atrum Coal Ltd (AU:ATU) has released an update.
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Atrum Coal Ltd has entered into a binding agreement with Panorama Resources for the sale of its Canadian subsidiaries, holding interests in the Groundhog and Panorama Anthracite Coal Projects. This strategic move allows Atrum to concentrate on its legal claim against the Government of Alberta over coal lease issues, while also securing initial and potential future payments from Panorama. The sale, pending due diligence and regulatory approvals, marks a significant shift in Atrum’s focus and financial strategy.
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