Obeid’s mates to repay gains

Corrupt MP Eddie Obeid’s family trusts and his business associates could be sued for profits made from his corrupt coal deals even if they themselves committed no crime, under legislation tabled in NSW parliament.

• Updated Feb 26, 2014
• Geoff Winestock

• Opinion

Some left in limbo as corrupted licences go

Editorial | The NSW government may have some justification in deciding to simply cancel, through legislation, coal licences issued in corrupt deals linked to former NSW Labor heavy weights Ian Macdonald and Eddie Obeid. The the licences are, in effect, stolen property which should be returned to the people of NSW.

• Jan 22, 2014
• The Australian Financial Review

NuCoal loses as NSW cancels tainted licences

Updated | NSW will cancel without compensation coal exploration licences worth tens of millions of dollars issued in corrupt deals linked to former Resources Minister Ian Macdonald and MP Eddie Obeid.

• Updated Jan 20, 2014
• Geoff Winestock

• Street Talk

Morgans lobbies for NuCoal client compensation

“Innocent investors” of NuCoal should be compensated if its major asset’s licence is pulled, according to Morgans equity analysts James Wilson, Chris Brown and Tom Sartor.

• Jan 7, 2014
• Sarah Thompson, Anthony Macdonald and Gretchen Friemann

Nucoal calls for Macdonald licence safeguards

A NSW move to bill protect investors in a goldmine from mistakes made under corrupt former resources minister Ian Macdonald has attracted the attention of coalminers caught up in the recent corruption cases.

• Updated Nov 4, 2013
• Geoff Winestock

Corruption tape reveals coal director’s lie

Coal magnate Travers Duncan has been accused of lying about his dealings with disgraced former NSW Labor mineral minister Ian Macdonald after a secretly taped phone call was played at a corruption inquiry.

• Updated Dec 7, 2012
• Michaela Whitbourn | Jamie Freed

• Coal

Nucoal Resources shares up for grabs

It’s understood at least two brokers were offering around 20 million shares in Nucoal Resources, developer of the Doyles Creek mine in the Hunter Valley, late last week.

• Nov 12, 2012
• Sarah Thompson and Anthony Macdonald

• Investment banking

No CIMB buys – for the time being

CIMB chief executive Dato’ Sri Nazir Razak has used an annual CIMB conference to rule out further big acquistions in Asia in the near term, but said CIMB was still keen on RBS’s half share of retail broker RBS Morgans.

• Jun 15, 2012
• Sarah Thompson and Anthony Macdonald

• Opinion

Corporate takes NuCoal stake

Former NuCoal Resources director Andrew Poole sold 30 million NuCoal shares last week, and it is understood the stake was bought by a corporate buyer.

• Jun 12, 2012
• Sarah Thompson and Anthony Macdonald

• Coal

NuCoal raising oversubscribed

Coal junior NuCoal’s $29 million raising through Investec Bank and RBS Morgans has been well supported with the offer more than two time oversubscribed.

• Updated Mar 1, 2012
• Sarah Thompson and Stephen Shore

• Coal

Merrill snaffles Bloomfield mandate

The still booming market for thermal and semi-soft coking coal has tempted one of Australia’s oldest private companies to test investor appetite for its mining and engineering interests in the Hunter Valley.

• Updated Feb 24, 2012
• Sarah Thompson and Stephen Shore

• Coal

Stocks punished as coal deals turn sour

Several coal juniors including Hunter Valley explorer NuCoal Resources, offshore explorer Tigers Realm Coal, Illawarra coking coal producer, and Queensland explorer Bandanna Energy have had a year to forget.

• Updated Dec 28, 2011
• Dan Hall

NSW:Ian Macdonald suspended over ICAC claims

Disgraced former Labor minister Ian Macdonald has been suspended from the NSW Labor party in the wake of damaging allegations against him.

• Updated Dec 8, 2011

• Coal

Licence cloud but NuCoal digs in

NSW coal junior NuCoal will continue to explore its 500 million-tonne Doyles Creek coal project in the Hunter Valley despite concerns over the awarding of the licence.

• Updated Dec 6, 2011
• Dan Hall

• Coal

NuCoal to proceed despite ICAC inquiry

The NSW government referred the matter to the Independent Commission Against Corruption last month after an independent inquiry commissioned by the NSW government found there that there had been “a circumstantial case of wrongdoing and a breach of public trust".

• Dec 5, 2011
• Dan Hall