East African coal-supplier Intra Energy Corporation (ASX:IEC) is heading to market with a capital raising.
The ASX has granted a trading halt.
For the June quarter 2014 Intra delivered record quarterly sales of 66,969 tonnes, which is a 9% increase on the preceding three months.
Intra's focus is to be the dominant coal supplier for industrial energy users and coal-fired power generation in the Eastern African region.
Earlier in the month the company agreed in principle terms to enter into a joint venture with an Australian company which provides drilling supplies and consulting services to the oil and gas industry.
The halt will remain in place until the opening of trade on Thursday 14th August 2014, or earlier if an announcement is made to the market.
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