27 Mar 2014 07:00
ANNOUNCEMENT 27 March 2014
COAL OF AFRICA GRANTED OPGOEDENHOOP SECTION 11 APPROVAL
Coal of Africa Limited (the "Company" or "CoAL") is pleased to announce that Section 11 approval has been granted by the Department of Minerals Resources ("DMR") for the disposal of the Opgoedenhoop mineral right. The consideration for the sale is R20.4 million and the deposit of R5 million has been received by the company. The balance of the consideration will become payable within 12 months.
David Brown, Chief Executive Officer stated: "The successful completion of the sale of Opgoedenhoop concludes another aspect of the five-point turnaround strategy."
For more information contact:
David Brown | Chief Executive Officer | Coal of Africa | +27 10 003 8000 |
Michael Meeser | Chief Financial Officer | Coal of Africa | +27 10 003 8000 |
Celeste Harris | Investor Relations | Coal of Africa | +27 10 003 8038 |
Tony Bevan | Company Secretary | Endeavour Corporate Services | +61 8 9316 9100 |
Company advisors:
Jos Simson/Emily Fenton | Financial PR (United Kingdom) | Tavistock | +44 20 7920 3150 |
Chris Sim/Jeremy Ellis | Nominated Adviser | Investec Bank plc | +44 20 7597 5970 |
Charmane Russell/Jane Kamau | Financial PR (South Africa) | Russell & Associates | +27 11 880 3924 or +27 82 372 5816 |
Investec Bank Limited is the nominated JSE Sponsor
About CoAL:
CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL's key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project/MbeuYashu, including CoAL's Makhado Project (coking and thermal coal).
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