Australia-based mining company International Coal Ltd (ICX) has announced that it has concluded due diligence in relation to the acquisition of Great White Nominees Pty Ltd (GWN).
ICX has offered 2,000,000 ordinary ICX shares, $250,000 and 3,000,000 options in ICX valid for five years as of January 12, 2012 for the acquisition of GWN.
ICX intends to develop a number of prospective coking coal and thermal coal projects throughout Queensland, with the acquisition providing regional diversification of the company's assets.