Tigers Realm Coal launches rights issue to start production at Project F

摘要

ASX-listed Tigers Realm Coal Ltd. could start production of its Project Frnopen-pit project on the Russian Pacific coast by the end of this year, in a bidrnto overcome the “very difficult” fund-raising environment for Russia-basedrnprojects, CEO Peter Balka said June 29.rnSpeaking to SNL Metals & Mining after unveiling a A$23.3 million 1-for-1rnrights issue, Balka said the difficulties in raising approximately US$100 millionrnneeded to construct the first stage of Project F meant the Australian grouprninstead opted to break this initial stage into two phases, with the first ofrnthese aimed at starting cheap, low-grade production this year.