CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.
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ASX trading halted due to technical glitch. CEO shares suspended until 28 October due to this announcement
C @ EXECUTES AGREEMENT TO ACQUIRE MONGOLIAN COAL LICENSES
October 27, C @ Limited (ASX:CEO) --
• C @ signs a Share Sale Agreement to acquire eight highly prospective Mongolian coal licences for US$7.8million, located in the Ovorhangay and South Gobi provinces
• Region characterised by a number of recent major black coal discoveries on the doorstep of the expanding Chinese steel and energy markets
• "Teeg" licence located in the Ovorhangay province of significant interest after C @ intersected two massive black coal seams containing coking properties
• Phase II of the exploration program which will include geophysics and further drilling, to commence immediately following the completion of acquisition
• Company to raise majority of funds via institutional placement, In conjunction with a priority share issue being offered to existing eligible shareholders
• Proposal to re-name company to Draig Resources limited
• Shareholders to vote on proposals at Annual General Meeting to be held on 30 November 2011
"Mogi" Munkhdul Badral
Senior Client Manager / Executive Director
CPS International LLC
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Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
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