Wescoal

Coal mining and trading company Wescoal Mining has announced that some of the conditions precedent to its combined claw-back and rights announcement have not yet been fulfilled.

The ramp-up of Wescoal Mining's flagship Elandspruit project in Mpumalanga is on track and on budget.
The ramp-up of Wescoal Mining’s flagship Elandspruit project in Mpumalanga is on track and on budget.

Wescoal intends to raise R81 million equity capital by way of a renounceable combined claw-back and rights offer to further develop its flagship Elandspruit colliery as well as fund other growth options.

In light of the delay, Wescoal advised shareholders on Tuesday that the finalisation announcement has been withheld for release until further notice.

It said that shareholders will be informed as soon as all conditions precedent have been fulfilled and revised dates have been finalised.

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