The Bureau of Land Management has rejected the only bid it received at its November 16 coal lease sale. The bid did not meet or exceed BLM's estimate of the fair market value of the tracts.

Signal Peak Energy LLC submitted the high bid of USD 5,325,000 (USD 0.15 per recoverable ton) for five unleased coal tracts in Musselshell. The BLM offered the tracts for sale in response to Signal Peak's coal lease application. The tracts are located approximately 12 miles south of Roundup and are adjacent to Signal Peak's Bull Mountains Mine No 1.

Signal Peak Energy LLC may request the Montana/Dakotas BLM to offer the coal lease tracts for sale again. The Montana/Dakotas BLM would consider reoffering the coal tracts for sale if it receives a written request to that effect from Signal Peak Energy LLC.

(Sourced from www.ktvq.com)