Palmer Coring Coal City cob’s owner, Chris Smith, is refusing to quit the coal company.
Smith told ESPN Crikey on Tuesday that the owner of the Cob, Clive Palmer, would stay with the company.
Palmer was last week accused of trying to sell the Cob for $8 million.
Smith said he was confident the Cob would be profitable and that he would stay at the Cob through to 2019.
The Cob’s owners have been trying to raise $8.2 million from private investors and Smith has said they had “significant” funding from a number of private investors.
The Cob will be taken off the books by the end of 2018.
Cob owner Clive Palmer says he will remain with the Cob until 2019, after which he plans to sell for $6 millionSource: ABC News’ Steve HoggettTopics:business-economics-and-finance,coal,coal-mining-industry,business-news,coalmining-rural,energy,australia,franceContact Matt Brown