Bowen Coking Coal Limited (ASX:BCB) agreed to acquire Broadmeadow East Coking Coal Project from Peabody (Burton Coal) Pty Ltd. for AUD 1.5 million on June 24, 2020. Total consideration payable is cash consideration of AUD 1 million payable upon Completion, royalty of AUD 1/t on all coal produced and sold from ML 70257, to a maximum of 1.5Mt, being AUD 1.5 million, assumption of environmental rehabilitation obligations and AUD 0.5 million cash consideration for land compensation, payable only upon site works commencing or the renewal of the ML, whichever occurs first. The transaction will be financed through capital raising. Firm commitments have been received for 45 million ordinary fully paid shares at an issue price of $0.05 per share, to raise a total of AUD 2.25 million before costs. The transaction is subject to indicative approval to transfer from the Minister of Mines, any conditions attached subject to Bowen Coking Coal’s approval, acting reasonably, entering into the deeds of covenant relating to CHPP, Haul Road and TLO tolling/access with the consent of New Lenton Joint Venture and the de-amalgamation of ML 70257 from the Burton Mine Environmental Authority. The transaction is expected to complete between 3 to 6 months. Bowen Coking Coal Limited (ASX:BCB) completed the acquisition of Broadmeadow East Coking Coal Project from Peabody (Burton Coal) Pty Ltd. on September 30, 2020. All conditions precedent to the transaction have been satisfied.