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NuCoal Share Placement Over Subscribed

A $30 million new share sale has been completed by NuCoal to fund studies on its Doyles Creak coal project in Hunter Valley. There was strong support for the placement of shares from new and existing investors.

The placement for the Newcastle based coal miner was substantially over subscribed.

NuCoal Resources chief executive Glen Lewis said that they were extremely pleased with the response from institutional investors to the capital raising, which he believed demonstrates strong support for their corporate strategy.

NuCoal is an emerging coal producer based in Newcastle, NSW, Australia. The company’s focus is on generating sustainable long term stakeholder wealth through the development of its wholly owned coal asset, Doyles Creek Mining Pty Ltd located in the Hunter Valley, NSW.

The Doyles Creek tenement is located about 105 km from the port of Newcastle and is about 15 km from a rail coal loading facility at Wambo. Besides its mining operations NuCoal has also established a a mining operations training facility in cooperation with the Hunter Valley Training Company and the University of Newcastle, Australia.

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