Celsius Coal to reveal maiden JORC Resources

(MENAFN- ProactiveInvestors - Australia) Celsius Coal (ASX: CLA) is focused on coking and thermal coal in the Kyrgyz Republic, and today the company was granted a trading halt pending its maiden JORC Resource. The company owns 80% of its Uzgen Basin Coking Coal Project (comprising: Kargasha; Kokkia; and Min Teke), which cover an established Soviet-era coking coal resource. It also owns 90% of its Alai Range Projects (comprising: Sary Mogol and Bel Alma). Celsius also recently received $5 million from Blumont Group (SGX: A33) as per the strategic funding arrangement announced to the market in February this year, and accordingly 227.3 million ordinary shares in Celsius have been issued to Blumont at the price of $0.022 per share. Blumont is a Singapore-based company with a market cap. close to S$700 million, The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 19th March 2013.