AustChina Holdings Limited (AU:AUH) has released an update.
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AustChina Holdings Limited has decided not to proceed with the acquisition of the Chenene Lithium Project in Tanzania after completing due diligence, including first-pass drilling. Instead, the company is focusing on its Blackall Coal Project in Queensland, where a recent mining study showed positive results for open pit mining. AustChina is also exploring alternative technologies for value extraction from its coal assets, including low-carbon processes.
For further insights into AU:AUH stock, check out TipRanks’ Stock Analysis page.