Linc set to kiss Teresa goodbye

Linc Energy managing director Peter Bond is upbeat about the sale of coal tenements to fund future energy developments.
Linc Energy managing director Peter Bond is upbeat about the sale of coal tenements to fund future energy developments. Contributed

LINC Energy is committed to the sale of its Teresa coal tenement north of Emerald.

The company's annual report stated it had spent $9 million on exploration drilling in 2011-12.

"This current drill program will more than double the information we currently know about the Teresa coal property, and add a lot of overall value to the project," the report stated.

"Mine infrastructure discussions continue to progress to schedule with providers of port, rail, power, water and accommodation."

The Teresa project is in its environmental impact study phase.

Linc Energy stands to earn $2 a tonne in royalties from its sale of the Carmichael coal tenement, north-west of Clermont, to Indian powerhouse Adani Group.

The price, indexed to CPI, is fixed over the first 20 years of production with the potential to produce 60 million tonnes of coal a year.

Linc has secured a $120 million line of credit with Fortress Investment Group using its Adani royalties and the Teresa tenement as secure assets.

The Carmichael tenement sale funded Linc's core business of clean energy and the purchase of oil and gas assets.

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Water bill reprieve for Isaac ratepayers

ISAAC ratepayers have been granted twelve months by Isaac Regional Council before they have to pay for water use.

Ratepayers in Isaac have 12 months to pay for water use.

Regions join to advocate for affordable housing

Regions collaborate: Isaac Affordable Housing Trust and Central HighlandsHousing Company Limited teaming up to lobby for better affordable housing. Pictured:IAHT Director and IRC Cr Nick Wheeler, CHQHC Company secretary and CHRC CEOScott Mason, IAHT Company Secretary Chris Wright, IAHT Chair and IRC Mayor AnneBaker, CHQHC Director and CHRC Cr David Lacey and CHQHC Chair and CHRCMayor Kerry Hayes.

Local councils join forces for affordable housing.

Light competition spreads Christmas cheer

Council plant operator/labourer Opeta Iona lends a helping hand to hang Christmaslights in the Emerald CBD.

Show your love of Christmas and enter the Light Up Your Town comp.

Local Partners

Paris Hilton fumes at clumsy partygoers

A reveller spilt their drink on Paris Hilton's DJ decks

Winnie Harlow isn't a role model

Winnie Harlow insists she isn't a role model.

Felicity Jones proud of Rogue One: A Star Wars Story role

Felicity Jones feels it is "important" for a woman to head Rogue One

Kiwi's plea to Ellen DeGeneres to save bakery after quake

Ellen... we need your magic.

Family had to be helicoptered out after powerful quake

Seacrest: Things are "going better" for Kim and Kanye

Ryan Seacrest says things are "going better now" for Kanye West

Jonah Hill involved in a car accident

Jonah Hill was involved in a car crash on Saturday

Banks reclaim Gladstone homes as job losses bite

LONG FALL: Property experts Heron Todd say, based on key market indicators, Gladstone is still travelling to the bottom of the market, with property prices set to get cheaper.

Property valuers say Gladstone housing market hasn't hit the bottom

The million dollar property to test Mackay's market

This Victoria St building will go to auction Tuesday and investors will be watching closely to see how much it sells for.

'High profile architect designed CBD asset' goes to auction

Prices jump in trio of mining towns

THE boost in coal prices in the past six months has triggered a house price jump in at least three mining towns in Central Queensland.

Boost in coal prices triggers a market turnaround

INSIDE STORY: Disused pipeline stops hundreds from building

TRAIL OF TEARS: Route of the disused Santos oil pipeline which is stopping hundreds of Ipswich residents from building.

Santos responds but Tully says easements issue must be addressed

Chinese locked out of Australian property market

The rules are different if you're a foreigner

The buyer was from China - the trouble started right there

Ready to SELL your property?

Post Your Ad Here!