Cokal has placed 17 million shares at AUD 0.50 to substantial shareholder Passport Capital LLC, with the capital injection to help progress the company's Indonesian coal projects. The placement also includes 8.5 million unlisted options with an exercise price of AUD 1.00 within 18 months of issue.

Cokal is currently focusing exploration on the Bumi Barito Mineral project where a JORC Resource is forecast to be delivered before the end of 2011.

The company also has operations in Mozambique, with the country poised to become Africa's major coking coal producer, and a major player in the world coking coal market.

This global position follows the discovery of significant resources and reserves of hard coking coal preceded by major exploration programs by international mining companies including Vale, Riversdale, Revubue (Nippon Steel, Posco et al) as well as other programs.

(Sourced from www.proactiveinvestors.com)