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Fitzroy Resources heads to market; focus on U.S. coking coal

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Fitzroy Resources (ASX: FRY) is heading to market with a capital raising. The ASX has granted the company a trading halt this morning, with its shares placed in pre-open.

The company recently signed an option agreement to acquire 100% of Premier Coking Coal, a U.S. based coal exploration and development company.

Fitzroy has completed its due diligence program and is currently finalising the necessary work required to complete the transaction with Premier and will announce completion in due course.

The halt will remain in place until the opening of trade on Monday 23rd December 2013, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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ASX:4DS
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Market Cap: $204.37 m
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