Aviva Corporation says it is considering its options after it was approached by third parties interested in the assets of Rick Stowe's collapsed company Griffin Coal.
The company did not name the parties that had approached it regarding Griffin, which went into administration earlier this year with about $1 billion in debts.
Aviva last year suffered a blow after losing out on a contract to Verve Energy to supply power from its planned Coolimba coal-fired power station.
Aviva was banking on the contract, and has since started to shop around the $1 billion project. In its quarterly report released today, Aviva said it expects final recommendations from the Environmental Protection Authority to be delivered this month.
"Several expressions of interest in the Coolimba power project have been received and Aviva continues to advance the essential elements of the project while assessing expressions of interest for the project," it said.
The Coolimba project was backed by US giant AES Corp, which WA Business News has previously flagged as a potential bidder for Griffin's assets.
KordaMentha administrator Brian McMaster has previously said that more than 20 groups, comprising domestic and international companies, have expressed interest in Griffin's assets in total or in part.
Meantime, Aviva said it was considering recapitalising options for its energy projects to facilitate funding and to pursue other power opportunities, and was also considering other resource opportunities unrelated to power for either acquisition or joint venture.
Aviva is currently seeking feasibility funding from the Global Carbon Capture and Storage Institute for the carbon capture and sequestration part of the Coolimba project after it missed out on federal government funding.
Aviva is also completing the final drafts of its mining study and resource estimates for its 90 per cent owned Mmamantswe project in Botswana.
At the end of the December quarter, Aviva had $5 million cash at hand.
