Attila Resources (ASX: AYA) has raised $7 million through an overbid placement of 11.7 million ordinary shares at $0.60 per share to institutional and sophisticated investors.
Attila is now fully-funded to progress the 70%-owned Kodiak coking coal project in Alabama, U.S., through to a project development decision.
This includes:
– Completion of Bankable Feasibility Study on the Gurnee Property;
– Completion of JORC resources on Seymour Property, Upper Thompson and Project X; and
– Completion of Scoping Study on the newly acquired Upper Thompson Project.
The recently announced PFS at Kodiak demonstrated that Attila has the potential to deliver hard coking coal at an all in cash cost that is in the bottom 10% of all international metallurgical coal producers.
The BFS is targeted for the March quarter 2014.
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