[cpsinewswire] [CPSI NewsAlert: Guildford's Terra Energy Signs HOA to Acquire Mongolian Coal Assets for A$40M, Guildford Increases Stake to 70%]

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

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GUF up 6% in early trading

Significant Mongolian Acquisition for Guildford Coal

July 8. Guildford Coal Limited (ASX:GUF) is pleased to announce that its Mongolian subsidiary Terra Energy LLC has entered into a heads of agreement for the acquisition of a 100% stake in a Mongolian based company that holds mining licences and exploration permits across four potentially significant projects including the Javkhlant Project in the northern Tuv Province, the Deliin Shand and the Mandal Ovoo Project in the South Gobi and the Khuut Project in the Middle Gobi coal bearing basins in Mongolia.

The heads of agreement is subject to due diligence to be conducted by GUF and Terra Energy LLC.

GUF has also elected to exercise its option to increase its stake in Terra Energy LLC from 20% to 70% due to the positive results of exploration to date on the South Gobi coking and thermal coal project and the Middle Gobi thermal coal project.

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Link to release

 

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"Mogi" Munkhdul Badral

Executive Director

CPS International LLC

Telephone/Fax: +976-11-321326

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Email: mogi@cpsinternational.mn

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CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at mogi@cpsinternational.mn or +976-99996779.

 

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