hgl great news for hudson and tiaro target 25c

Acquisition of an interest in three
Exploration Permits for Coal (“EPCA”) in the premier Bowen Basin of Queensland
Tiaro Coal Limited (ASX: TCM) has entered into a Heads of Agreement with Queensland Coking Coal Pty Limited (“QCC”) the holder of EPCA 1236 (100%), EPCA 1237 (100%) and EPCA 1261 (100%) in the Bowen Coal Basin of Queensland.
The Heads of Agreement provide for:- (a) the acquisition of a 50% interest in EPCA 1236, EPCA 1237 and EPCA 1261 by TCM. (b) joint exploration and development of the tenements by TCM and QCC. (c) TCM to arrange all regulatory and administrative approvals to advance these objectives outlined at (b).
These three EPCAs are comprised of a total of 1,342 sub blocks covering approximately 3,972 square kilometers in an area that is world recognized for producing quality coking coals and that is highly prospective for new coal opportunities.
TCM is pleased to announce the placement of 2,000,000 fully paid ordinary shares at $0.80 with attached options totaling 1,000,000 exercisable at $1.00 within the next 24 months.