Investors in one of Perth's top stockmarket floats of 2010 are set to reap a spectacular return after Thai coal miner Banpu Public Company today announced a friendly $477 million takeover offer for
Perth-based Hunnu Coal has beefed up its Mongolian coking coal portfolio, with the $40 million acquisition of a controlling interest in tenements owned by a subsidiary of Rio Tinto.
Perth-based Hunnu Coal has continued its stunning run with the announcement of a strategic partnership with Singapore-based Banpu Minerals to develop its Mongolian coal tenements.
Two of Western Australia's top sharemarket performers of 2010, Doray Minerals and Hunnu Coal, have seen their share prices dip after announcing resource estimates.
West Perth-based Hunnu Coal has announced plans to raise $40 million through a placement and will use the money to fund exploration and development of its coal projects in Mongolia.
