Tiaro this morning signed a heads of agreement with Queensland Thermal to acquire half of four exploration permits for coal.
Tiaro and Queensland Thermal will jointly explore and develop the tenements.
“The QTC permits further add to Tiaro's coal portfolio in southern Queensland and are in an area renowned for its existing coal prospects. They offer exciting new coal opportunities," Tiaro CEO Peter Meers said.
“Tiaro is undertaking grassroots exploration to develop coal deposits with the potential to produce high value coals."
Tiaro was trading up 10% mid-morning at $1.20.
