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Natasa Mining Ltd

  • BY: Andrew Hore |
  • POSTED: 24/02/2012 |

Natasa Mining’s recently formed subsidiary Alberta Coal Corporation plans to join the Main Market and raise up to £30m.

Last year, Natasa acquired six coal leases, covering an area of 22,688 ha, in the Fox Creek area of the Province of Alberta, Canada for $5m. These leases were put into Alberta Coal Corporation (ACC). The fundraising will dilute Natasa’s stake in ACC, which plans a standard listing.

The cash will be used to develop the leases, which have a sub-bituminous C coal resource. There are 431m tonnes of measured resources and 346m tonnes of indicated resources.

The plan is to have a bankable feasibility study within 24 months of the flotation. Natasa chairman Chris Kyriakou will have the same role at ACC.

ACC will look at other coal and resources opportunities.

At 85.5p a share, Natasa is valued at £25m. 

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2012_29.pdf

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