This as an oil and gas play gushed on a working interest acquisition Thursday
Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, December 23, 2010
TORONTO (SHfn) – Royal Coal (TSX: V.RDA, Stock Forum) shares surged 29% to 22.5 cents on Thursday after the micro cap miner reported the signing of a letter of intent to acquire 80% ownership of a coal loading and unloading terminal located on the Big Sandy River in Catlettsburg, Kentucky. The purchase includes the equipment used to operate the River Terminal, which is currently in operation and has the capacity to load more than 100,000 tons per month. The total purchase price shall be the payment of US$8.25 million of the seller's bank debt. The company will have an option to purchase the remaining 20% of the River Terminal for a price to be negotiated with the vendor.