Explorer NSL will find out today if it’s won a court battle over coal licences
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ASX-listed iron ore and coal player NSL Consolidated will know today if it has won a legal battle over four coal licences in Queensland.
The company (ASX:NSL) has requested a trading halt ahead of the verdict, which is being handed down in the Supreme Court of Western Australia at 2.15pm today.
Coal Hub Pty Ltd is the company that launched the legal case against NSL back in August 2016.
The company alleged that NSL was obliged to spend at least $500,000 on drilling the tenements in the Eromanga Basin but failed to do so.
The case has previously gone in favour of NSL, with the judge presiding over the initial case upholding the company’s objections.
NSL shares have tumbled 58.7 per cent in the past year from a 52-week high of 4.6c in mid-February last year to 1.9c.
The company has requested a trading halt until February 13.