Coal of Africa up 23 percent
Australian mining minnow Coal of Africa has shot up 23% following news that it has placed 100m dollars of shares at a price of 25p a share with Haohua Energy International, owned by Chinese coal producer Beijing Haohua Energy Resource.
Australian mining minnow Coal of Africa has shot up 23% following news that it has placed 100m dollars of shares at a price of 25p a share with Haohua Energy International, owned by Chinese coal producer Beijing Haohua Energy Resource.
The placement has been structured in two tranches: an initial 20m tranche, conditional upon approval by the Australian Foreign Investment Review Board, followed by a second subscription of 80m dollars conditional upon approval by the requisite regulatory authorities.
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