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Cougar Energy Enters Trading Halt For Capital Raising

Cougar Energy (ASX: CXY) has entered a self imposed trading halt, pending a capital raising announcement.

It expects the halt to last up to the close of trade on Thursday 25 July 2013 and to re-commence at the opening of the market on Friday 26 July 2013 or earlier.

The company will be undertaking a capital raise and the results of the capital raise will be disclosed to the market before the re-commencement of trading of the company's shares.

Maiden Coal Resource at Mackenzie

Last week, Cougar delivered a maiden Inferred JORC Resource of 201 million tonnes at the wholly-owned Mackenzie PCI Coal Project, which is strategically located next door to producing mines in the Bowen Basin in Central Queensland.

There is potential for the resource to grow as it only covers 70% of the project - with a Scoping Study already underway.

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