www.reyresources.com
Rey Resources (ASX: REY) is thermal coal development company with a large resource and major land position of 8,000km2 in the emerging Canning Basin of Western Australia. A Pre Feasibility Study on the firm’s maiden 511Mt JORC resource at Duchess Paradise was completed in January 2010 and revealed a 2Mtpa highwall mining export thermal coal operation, commencing production in 2013, to be financially robust. Capital costs are estimated at A$113 million and operating costs at A$60/t FOBT Derby, where Rey has its own port and loading facility. A major exploration program in 2010 over 100kms of subcrop will seek to extend the 8 year life of the proposed operation and add new resources.
Rey Resources in trading halt to announce capital raising
Rey Resources (ASX: REY) has been granted a voluntary trading halt pending an announcement regarding a capital raising.
While Rey has given no clues as to the nature of the capital raising or what the funds will be used for, the company delivered a Definitive Feasibility Study for its Duchess Paradise thermal coal project earlier this year.
The company is targeting construction at Duchess Paradise in 2013.
The trading halt will be in effect until an announcement is made to the market or no later than the start of trading on Friday, December 9.



















