The Wall Street Journal: Guildford Coal to Raise Around $26.5 Million

Guildford Coal is taking advantage of the feelgood factor in the resources sector by seeking to raise around 25 million Australian dollars (US$26.5 million) through an issue of new equity, a person familiar with the matter told Deal Journal Australia. The Newcastle-based company, which earlier this year secured a mining license for its flagship South Gobi project in Mongolia and is also advancing coal projects in Queensland state, plans to issue new shares at A$0.70 each. That represents a slight discount to its closing price of A$0.71/share Friday. Guildford Coal, which has a market value of A$170 million, placed its stock in a trading halt early Monday due to its capital raising plans. It has appointed Sydney-based Foster Stockbroking to lead the issue. To read the full article, click hereGuildford Coal to Raise Around $26.5 Million

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