Cockatoo seals $17.6M part one raising

COCKATOO Coal has successfully raised $A17.6 million in tranche one of its capital raising.
Cockatoo seals $17.6M part one raising Cockatoo seals $17.6M part one raising Cockatoo seals $17.6M part one raising Cockatoo seals $17.6M part one raising Cockatoo seals $17.6M part one raising

Greg Rowan, senior inspector of mines, Queensland Government Natural
Resources & Mines

Angie Tomlinson

The company has issued 38.18 million shares for $12.6 million and received a legally binding commitment from POSCO Australia to subscribe to a further 15.15 million shares for $5 million.

The placement is part of a bigger $35 million two-part raising announced last Friday.

As part of the second tranche, Indonesian coal company PT Harum will invest $A15 million in Cockatoo, purchasing 41.6 million shares at 36c per share.

The second part is for 48.3 million shares at 36c per share for $17.6 million.

Cockatoo holds resources in the Bowen Basin, including the Baralaba mine and Wonbidi project, and its Woori, Kruger/Davies and Kingaroy projects in the Surat Basin.

Cockatoo closed steady at 33.5c yesterday.

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