For New Hope Corp. (NHC.AX) shareholders awaiting approval of New Acland Stage 3 (NAC), there is the possibility of a new court challenge to deal with.
Read more from the Brisbane Times here.
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This is not good news for New Hope as it appears NA3 may continue to be held up by environmentalists in court. One of the potential upside catalysts for New Hope is/was the final approval and commencement of mining at NA3. This would boost annual production rates and should result in a positive re-rate of the stock price. We’ll have to continue to wait and see how the situation unfolds.