The Company released an announcement to the ASX last Friday, 16 February 2018 in respect of the finalisation of a sales contract, resulting in cash inflows of $3.95 million. In addition to this there has been significant press and commentary recently regarding potential claims that US Investors in NuCoal may have and the injustices of the Independent Commission Against Corruption, namely:
a. an article titled "US disputes $131m coal seizure by NSW" appeared in The Australian newspaper today. This article highlighted the injustice of the expropriation of NuCoal's Doyles Creek Exploration Licence 7270, and referred to efforts by certain US investors to recover their losses from that expropriation;
b. NuCoal's situation was highlighted on radio (Alan Jones - 20 February 2018) and television (Outsiders Program - Sunday 19 February 2018);
c. An article written by NuCoal's Chairman regarding the United States Free Trade Agreement was published in The Australian newspaper on 9 February 2018; and
d. Speeches by The Hon. Dr Peter Phelps in the Legislative Council of Parliament on 13 February 2018 and 14 February 2018. Apart from the press and commentary above, the Company is not aware of any other explanation for the price and volume change in the securities of the Company.