L&L Energy to Provide Coal to State-Owned Chinese Utility Company; Shares Climb 6.5%, But Off Day Highs

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L&L Energy ( LLEN ) has signed a deal to provide thermal coal for the HeShan power plant of state-owned utility company, Datang International Power Generation in China.

Under the deal, LLEN's DaXing wholesale subsidiary in Guizhou Province will provide 20,000 tons of thermal coal per month over 12 months to Datang Utility's HeShan power plant in neighboring Guangxi Province.

The contract is expected to generate $31 million in revenues, with the average sales price of $130 per ton.

Shares are up 6.5% to $2.68 but are off a day high $3.18, with a 52-week range of $2.15 - $7.64.



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This article appears in: Investing , Commodities

Referenced Stocks: LLEN

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