Media Room

CoAL seeks greater self-sufficiency after transformational FY17

Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as the settlement of significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst colliery, the company will be advancing further toward self-sufficiency.

Xanadu raises cash for exploration

ASX-listed junior Xanadu Mines will raise A$15.4-million through a share placement to institutional and sophisticated investors to fund exploration activities and to repay debt.

The company on Thursday reported that around 76.8-million ordinary shares will be issued at a price of 20c each, under the company’s existing placement capacity, to both domestic and international investors.