Shares of coal miner New Hope Corp. spiked on Monday by as much as 14.6 percent after it announced it had received "a number of preliminary and incomplete proposals from third parties" interested on a prospective takeover of the company.

The Brisbane-based company is opening its books to corporate suitors to invite bids that could help keep the company afloat. Analysts said the miner could be valued to as high as AS$10 billion.

New Hope's market capitalization is placed at A$4.39 billion while cash and short-term deposits are at A$1.67 billion, thus enterprise value for any possible takeover bid should be a minimum of A$6.06 billion.

"A formal process will allow the board to assess these opportunities in a considered manner, with minimal disruption to New Hope's day-to-day business activities," Chairman Robert Millner said in a statement.

New Hope mines nearly six million metric tons of coal annually from two mines in Queensland state, and it Australia's second-largest listed coal miner by output.

A number of other Australian coal miners are currently up for bids. Coal & Allied Industries Ltd., Australia's largest listed coal miner by output, has received an A$10.8 billion offer from Rio Tinto PLC and Mitsubishi Corp. of Japan. While the board of Macarthur Coal Ltd. has recommended an A$4.83 billion bid from Peabody Energy Corp. and ArcelorMittal.

Developments in Australian's mining industry relatively supports Prime Minister Julia Gillard sentiments that Australia should not be threatened over the notion of a boom-and-bust cycle for its mining sector, as the country is well capable "to sustain it for a very long period of time."

"It is a boom, it is a huge opportunity for growth in our resource sector and great opportunities for jobs and wealth creation as a result, but it is likely to be sustained for a very long period of time," Australia's chief of state said before a tax summit at Parliament House.

Australia's economy ballooned in the past decade, largely caused by the growth in its mining sector, from around 4.5% in 1993-94, to almost 8% in 2006-07 in terms of contribution to GDP.