Allegiance finds production opportunity 

ALLEGIANCE Coal has entered into a binding terms sheet for an option to acquire a failed Colorado hard coking coal business for a headline price of US$1 and paying down debts of C$55 million over time. 

Allegiance finds production opportunity  Allegiance finds production opportunity  Allegiance finds production opportunity  Allegiance finds production opportunity  Allegiance finds production opportunity 

The New Elk mine has operated on and off since 1951.

The Sydney-based Allegiance will acquire New Elk Coal Company, which operated the mine until 2012, when it was placed on care and maintenance.

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