White Energy completes $0.5M project acquisition
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- White Energy finished acquiring 100% of the South Galilee Coal Project for $0.5 million.
- The company's stock fell 5.0% to $0.24 following the announcement.
- The deal secures direct ownership of Queensland coal tenements to expand regional energy assets.
White Energy (ASX:WEC) completed its $0.5 million acquisition of the South Galilee Coal Project on Oct. 12.
The transaction follows the initial agreement announced on Oct. 2 after satisfying limited conditions precedent.
White Energy did not include executive commentary in its official market announcement.
The purchase was settled via cash to acquire 100% of AMCI (QCoal), which owns the holding entity for the project tenements.
Following the announcement, the White Energy share price was down at $0.24.
The business operates active exploration divisions targeting critical minerals alongside binderless coal briquetting technology.
