Tiaro Coal (ASX:TCM) has received a notice of initial substantial shareholding from Singapore’s AceA Resources which holds a 19.88% stake in the company.
AceA had acquired the 22.6 million shares in the company for a total of $3,051,000 on 27 June 2014.
Tiaro had last week completed two short exploration programs to test coal quality and resource extension as part of the T9 West Pre-Feasibility Study for its key south east Queensland coal project.
It has started a Pre-Feasibility Study on the potential for 5.5 million tonnes per annum Run of Mine production from 19 coal seam groups that carry metallurgical coal.
