Tiger Realm Coal completes A$21.2 million placement for far eastern Russia coal projects

Australian coal company Tiger Realm completed an A$21.2 million placement for its coking coal project in far eastern Russia, Amaam and Amaam North Projects.

Funds will be used for drilling and technical studies and for corporate and working capital purposes.

Investec Bank (Australia) Limited and Shaw Corporate Finance Pty Limited acted as joint lead managers to the placement.

The company says the two coal tenements are just eight-days shipping to North Asian markets.