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Fitzroy Resources extends terms of US coking coal acquisition
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Wednesday, 18 Dec 2013

Proactive Investors reported that Fitzroy Resources has paid USD 250,000 to extend its option to acquire Premier Coking Coal until 17th March 2014.

In August, Fitzroy signed an option agreement to acquire 100% of Premier Coking Coal, a US based coal exploration and development company.

The leases contain prospective coal seams that outcrop on hills within the Appalachian Basin that have a short term target to commence low capital expenditure production through the use of third party processing close to the property.

In accordance with the option agreement, Premier will use the funds to make the next option payment of USD 250,000 to Emmaus Partners LLC.

Source - Proactive Investors


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