10/11/2014 - 15:39

Tian Poh set to make ASX debut

10/11/2014 - 15:39

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Mongolian-focused coal miner Tian Poh Resources will make its debut on the ASX tomorrow, after raising about $2.4 million through its initial public offering.

Tian Poh set to make ASX debut

Mongolian-focused coal miner Tian Poh Resources will make its debut on the ASX tomorrow, after raising about $2.4 million through its initial public offering.

The company issued the shares at 20 cents each, and exceeded its minimum of $2 million but fell short of the further $4 million it allowed in oversubscriptions.

While the company’s chief executive officer and director Poh Kay Ping will be based at the Singapore office, non-executive directors Darragh O’Connor and Tan-Kang Kee Sing will be based in Perth.

Mr O’Connor has previous experience as a senior exploration geologist, while Mr Tan-Kang is the head of special projects and residential marketing for Colliers International.

The company has secured a 30-year mining lease for its Huabei Kuangye coking coal project.

Once listed, Tian Poh will focus on advancing the project to development, which is situated alongside a haul road to Chinese customers and near to a Government-planned rail-line.

The company has nine other projects all located in the same province, which the company said also hosts two of the world’s top 10 largest mineral deposits.

The prospectus was lodged in August, with the public offer was due to close on September 15 but was extended to October 24.

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