Pike River Coal's part-owner, NZ Oil & Gas, said the company's creditors had agreed to a 90-day stand-still agreement after a second major explosion at its West Coast mine on Wednesday.The explosion is presumed to have killed all 29 miners left in the
Pike River Coal’s part-owner, NZ Oil & Gas, said the company’s creditors had agreed to a 90-day stand-still agreement after a second major explosion at its West Coast mine on Wednesday.
The explosion is presumed to have killed all 29 miners left in the mine after the first explosion, which occurred last Friday.
NZOG said it would make a $500,000 donation to a fund to support the miners’ families and communities.
“The board and staff of NZOG extend their deepest heartfelt sympathies to the families, friends and colleagues of the men who have lost their lives so tragically at the Pike River Coal mine,” the company said.
Pike River Coal, which is 29.4% owned by NZOG, last traded at $0.88 a share. While its shares remain on a trading halt, NZX data shows a bid/ask spread of $0.20 to $0.41.
