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LLEN > SEC Filings for LLEN > Form 8-K on 23-Nov-2012All Recent SEC Filings

Show all filings for L & L ENERGY, INC.

Form 8-K for L & L ENERGY, INC.


Entry into a Material Definitive Agreement, Other Events, Financial Statements

Item 1.01 Entry into a Material Definitive Agreement.

On November 18, L & L Energy, Inc., a Nevada corporation ("L&L"), entered into the Lashu and Luozhou Mines Sales and Purchase Agreement (the "Agreement") acquiring the Luozhou and Lashu mines in the Guizhou Province, China.

Under the Agreement, L&L acquired 95% of both Luozhou and Lashu mines from Union Energy for $37.1 million. This payment was satisfied by a cash outlay of approximate $1.7 million and transfers of the Company's interests in Zonelin Coking Plant (98%) and the DaPing Mine (60%).

The newly constructed Luozhou and Lashu mines are located in HeZhang County, Guizhou Province China, near L&L's Weishe Mine. The two mines produce low sulfur, high BTU, anthracite coal with approximately 34.2 million tons of combined coal reserves. LuoZhou has 27 million tons of reserves and will move from an annual production rate of 200,000 tons to 450,000 tons by the end of 2013. LaShu has 7.2 million tons of reserves and will initially produce at a rate of 150,000 tons per year, ramping up to its approved rate of 300,000 tons over time.

The Company will forward a translated version of the agreement to the SEC separately.

ITEM 8.01 Other Events.

On November 19, 2012, L&L issued a press release regarding the entry of the Lashu and Luozhou Mines Sales and Purchase Agreement. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number Description

99.1 Press release dated November 19, 2012

Forward Looking Statements

Information set forth in this Form 8-K report that is not purely historical are "forward looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934. Forward looking statements include, without limitation, statements regarding the Company's business strategy, market/revenue/profitability prediction, risks/uncertainties, and future performance. All such forward looking statements are based upon information available to the Company as of the date hereof, and the Company assumes no obligation to update any such statement. Actual results could differ materially from the Company's current expectations. Factors that could contribute to such differences include, without limitation, risks related to volatility in coal demand, China's political/economic environment, the Company's ability to acquire coal-mine related assets and corresponding financing, and other factors discussed in the Company's reports filed by the Company from time to time with the Securities and Exchange Commission.

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