L & L Energy, Inc. (LLEN) to Finance Coal Mine in Colorado
L & L Energy, Inc. reported that the company has signed an agreement to finance coal operations at a mine in Colorado. L & L Energy, Inc. has agreed to provide up to $3 million in funds to Bowie Resources LLC, which owns the Bowie mine in Paonia, Colorado. The company funded the first part of the loan, in the amount of $1 million, on November 23, 2010. Bowie Resources LLC will pay interest at a rate of 9% per annum. In addition, L & L Energy, Inc. will also receive an option to buy 9% of Bowie Resources LLC…