Aug 27, 2014

Tinkler’s last roll of the dice to get back into the coal game

Nathan Tinkler wants back into the coal industry. But with three days left to raise some $40 million, has he bitten off more than he can chew?

Paddy Manning

Crikey business editor

As he prepares to front the Independent Commission Against Corruption once more, former billionaire Nathan Tinkler is in a last-ditch scramble to pull off a spectacular coal industry comeback and turn a $5 million cash deposit into almost $80 million. Feedback from potential investors is not good.

Tinkler has already missed two deadlines to close a deal, first announced in May, in which his Singapore company Bentley Resources would buy the mothballed Wilkie Creek coal mine in Queensland from US giant Peabody.

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3 thoughts on “Tinkler’s last roll of the dice to get back into the coal game

  1. stephen Matthews

    “”Another $5 million would be raised in a public share offer on the ASX at 50c a share, giving float investors a 4% stake””
    Please Mr Tinkler get real. If you offered 40% for the listed vehicle interest instead of the illusory 4% Patersons clients may take you seriously.
    Egg on face about to land on many people including Peabody in USA, UBS and Patersons.

  2. Draco Houston

    Why would anyone want to get into coal right now, let along back into it?

  3. The Old Bill

    Because coal is the future Draco, just ask the Liberals.
    Too bad the Chinese are moving heaven and earth to move into anything but coal fired electricity.

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