Referenced Stocks

UPDATE: L&L Energy Gains 5% - Signs MOU to Acquire LuoZhou Mine

By Midnight Trader,  June 22, 2012, 10:40:10 AM EDT

L & L Energy, Inc. ( LLEN ) is up 4.92% to $1.92 after the company earlier said it signed an MOU to acquire a 50% controlling interest of the LuoZhou Mine in HeZhang County, Guizhou Province. The acquisition of LuoZhou will mark the company's third transaction with Union Energy, a local partner.

The company said LuoZhou is currently in trial production and will reach its approved rate of 150,000 tons per annum by fall of 2012 (on reserves of 27 million tons), with targeted expansion to 450,000 tons.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks: LLEN



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