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Tiaro will close its offer of 15 million shares at 20c per share to raise $A3 million at the end of the month, with public listing expected March 4.
The company plans to identify and develop new metallurgical coal resources in the Tiaro Coal Measures in South East Queensland.
The company's tenements cover 2200 square kilometres between Maryborough and Gympie.
Tiaro said exploration was at an early stage and not yet JORC compliant, however targets had been identified for further exploration.
The Tiaro Joint Venture Coal Project is made up of Tiaro Energy Corporation, Core Resources and Anglo Pacific Group subsidiary Jandale.
