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African Energy Resources heads to market

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African Energy Resources (ASX: AFR) is heading to market with a capital raising, with the ASX granting the company a trading halt.

AFR's shares are currently in pre-open.

The company has 6.2 billion tonnes of thermal coal resources in Botswana, which is a country with low sovereign risk.

AFR's Sese coal project can support multiple 300MW projects for regional power, and as an advantage the project has a very low strip ratio and raw coal quality suited
to low-cost power generation.

Sese is also close to existing transmission grid and planned grid extensions.

The halt will last until the opening of trade on Monday 7th April 2014, 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.

Quick facts: African Energy Resources (Guernsey) Ltd.

Price: 0.032 AUD

ASX:AFR
Market: ASX
Market Cap: $19.93 m
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