Intra Energy Corporation (ASX: IEC) is on a capital raising drive, with the ASX granting the company a trading halt.
Intra Energy's shares have been placed in pre-open.
Just last week the company received its first coal sale order from a major cement producer in Zambia, through its wholly-owned subsidiary Tancoal Energy.
The initial order of 2,000 tonnes is expected to lead to a long-term contract with the customer, and negotiations are continuing with other prospective customers.
Tancoal is emerging as pre-eminent supplier of coal to industrial customers in the Eastern Africa Region, displacing expensive imported coal in current operation.
The halt will remain in place until the opening of trade on Thursday 28th November 2013, or earlier if an announcement is made to the market.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.