this is how its done...

This is how to run a coal company....

Aston Resources IPO could raise more than $300m Alex Wilson From: Dow Jones Newswires March 09, 2010 3:27PM

ASTON Resources is hoping to capitalise on the strong outlook for coal prices to raise $300 million or more in its upcoming initial public offering.
The company, which is privately held by mining investor Nathan Tinkler, is planning an IPO of about $300m but the final figure sought could be higher depending on demand, which the company expects to be strong thanks to the positive outlook for coal prices.

"You are going to see a lot of demand for this," a person familiar with the situation said today.

Strong demand is driving expectations of higher coal prices, and these hopes were partly confirmed this week with world's biggest producer of seaborne coking coal, the BHP Billiton Mitsubishi Alliance, agreeing a 55 per cent increase in contract coking coal prices.

Aston is this week launching a beauty parade for an underwriter and lead manager for the float and is running a concurrent process seeking an Asian power generator to partner with.

The person said Aston is talking to Japanese, Korean, Taiwanese and Chinese coal buyers who are interested in buying an equity stake in the Maules Creek development at a project level and in signing an offtake deal to buy coal from the mine, which is due to start production in 2012.