Tiaro Coal (ASX:TCM) executive director Rado Jacob Rebek has stepped down from his position after seven years with the company.
In September, the company raised $340,000 through a placement of shares to sophisticated investors.
It is also raising $1.3 million through a fully underwritten rights issue priced at $0.01 per share to retire an existing loan and fund resource upgrade work.
This has already received strong support with shareholders holding about 42% of its share capital agreeing to take up their rights under the offer.
Tiaro has been progressing plans to develop a coking-PCI coal mine in Queensland with its T9 West Project Pre-Feasibility Study now at the mine planning and economic analysis stage.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
Add to My Watchlist
What is My Watchlist?