$10M binding funding received for 50% interest in the PCI project
Beacon Financial Group with $3.5Bn in assets is putting up the funds
They have just sold 50% of the PCI project only for just shy of our current market cap !
Cokal will retain all of the BBM hard coking coal upside to ourselves ... absolutely massive result for us
This can produce 500kt p.a at costs of just $58/t
This deal should net cokal around $10-20Mp.a initially
Once this is up and running, financing the expansion of BBM to 2Mtpa should be a walk in the park
10c+ should be in play in the S/T
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- Ann: Funding Secured for Development of the BBM PCI Coal Mine
Ann: Funding Secured for Development of the BBM PCI Coal Mine, page-3
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