SYDNEY (Yosefardi) – Global metallurgical coal group, Cokal Limited (CKA) has received the third tranche (A$2.25M) of the A$9.6M private placement to Blumont Group Ltd, bringing the total funds received to date as A$7.1M.
As announced on 8 July 2013, the Blumont Group placement will be issued in 5 tranches and will raise a total of A$9.6M by November 2013.
The company has today issued the third tranche of 14,062,500 fully paid ordinary shares at price of A$0.16 (raising A$2,250,000 before costs). On completion of the third allotment a total 44,375,000 fully paid ordinary shares will have been issued under the Blumont Placement.
Cokal has interests in four projects in Central Kalimantan, Indonesia considered prospective for metallurgical coal.