Australia-based coal exploration company International Coal has been admitted to the Australian Stock Exchange (ASX) after a very successful initial public offering which was open for just four days.
International Coal will be listed on the ASX boards at noon on Thursday, July 28, with over 59.2 million issued shares.
The stock attracted great attention from investors because of the company's prospective hard coking coal Bundaberg Project assets in the Maryborough Basin as well as interest in the South Blackall Project in the Eromanga Basin, both located in Queensland.
International Coal's objective is to launch drilling in 2011 and prove up a larger JORC resource in 2012 at Bundaberg Project.