Coalbank Ltd : Completion of Partial Asset Sale

ASX ANNOUNCEMENT

20 November 2013

COMPLETION OF PARTIAL ASSET SALE

COALBANK LIMITED (ASX: CBQ) advises that the partial asset sale announced on 27th August 2013 has been completed following receipt of the final payment of A$500,000 (plus interest).
Under the sale arrangements, subject to Ministerial approval (where required), Treasure Wheel Global Limited agreed to acquire COALBANK's Biloela South, Coalbank South, and Chinchilla East EPCs, and Harvest Metals Pty Ltd for $2,000,000 independently of the proportional takeover of Coalbank Limited.

Advisers

COALBANK is being advised on the transaction by McCullough Robertson.

Further information:

Bruce Patrick

CEO,

COALBANK Limited

Telephone [phone]

Greg Baynton Deputy Chairman COALBANK Limited Telephone [phone]

COALB AN K L IM ITE D

ABN 20 075 877 075

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