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Article: Hillsborough Announces Sale of Bingay Creek Property.
- Article from:
- Marketwire Canada
- Article date:
- November 2, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA, Nov 2, 2009 (Marketwire via COMTEX) -- Hillsborough Resources Limited (TSX:HLB) ("Hillsborough") is pleased to announce the sale of its Bingay Creek metallurgical coal property located near Elkford, British Columbia, to Centermount Coal Ltd., a wholly-owned subsidiary of Centerpoint Resources Inc., both of Vancouver, British Columbia. Sale proceeds amounting to (CAD) $5.9 million have been received in cash, and represent a $5 million gain over the carrying cost of the property.
David Slater, President & CEO of Hillsborough stated: "With Hillsborough's focus on the Peace River metallurgical coal project in north-eastern British ...