BMB balamara resources limited

News: Balamara Resources to divulge details on rights to significant coal asset

  1. Balamara Resources (ASX:BMB) is preparing to provide an update in regards to the company securing the rights to a significant coal asset.

    The ASX has granted a trading halt, with Balamara's shares placed in pre-open.

    Earlier in the week Balamara expanded and diversified its Polish coal portfolio by acquiring a strategic interest in thermal coal project.

    Balamara has acquired 15% of Carbon Investments, owner of the substantial Mariola Thermal Coal Project in Upper Silesia, southern Poland, for 15M shares and $500,000 cash. Balamara has the option to secure a further 15%, at its election.

    The halt will remain on place until the opening of trade on Tuesday 22nd July 2014, or earlier if an announcement is made to the market.

     

 
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Currently unlisted public company.

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