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.
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.
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.
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 junior explorer Hunnu Coal has announced an 85 per cent increase in its resource estimate for its Tsant Uul coal project in Mongolia.
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 Hunnu Coal.
There may be plenty of cash about, but the IPO market is struggling as investor confidence remains low.
| Name | Position | Year Started | Year Ended |
|---|---|---|---|
Chief Financial Officer
|
2010 | 2011 |
| Date | Company | Transaction Type | Total Value | |
|---|---|---|---|---|
| Hunnu Coal | Placement | $45.00m | >> |
| Announced | Bidder | Target | Transaction Type | Total Value | |
|---|---|---|---|---|---|
| Banpu | Hunnu Coal | Takeover | $477.00m | >> |
