From yesterday's Mining Weekly: http://www.miningweekly.com/article/coking-coal-bonanza-gold-miner-buys-coal-coal-funding-quest-2013-03-20
Gold miner Village Main Reef has entered into a private placement agreement with Aim- and ASX-listed thermal coal company Continental Coal, which will see Village subscribing for 100-million ordinary shares in Continental for A$0.08 a share. Read on page 13 of this edition of Mining Weekly of Village also having the option to acquire further Continental shares on the market at a price of up to A$0.10 a share, thus increasing its shareholding to 19.9%. Continental is seen by Village as being at an "inflection point" in terms of its development, in that it has concluded offtake and funding agreements for its export thermal coal production, signed a joint development agreement with Korea Resources Corporation and secured debt from Absa Capital to fund its growth.
CCC Price at posting:
4.7¢ Sentiment: LT Buy Disclosure: Held
