WOLLONGONG Coal has been suspended from trading on the stock exchange for failing to lodge its half-yearly report.
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The results to September 30 have not been received and the Australian Securities Exchange took the action on Friday.
It’s the latest setback in an annus horribilis for Wollongong Coal. The company is being investigated by the NSW Resources Regulator over whether it is a “fit and proper person” to hold a mining licence.
But events this year have hardly conspired to give a resounding vote of confidence in the operation.
It lost a court case it brought against former mine owner Gujarat NRE, has received a default notice on loans from the Mauritius Commercial Bank, directors have resigned, and the company is being taken to court by the NSW Government over unpaid rent and fees.
