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International Coal MD Hugh Dai Acquires Further Shares

International Coal's (ASX:ICX) managing director Hugh Dai has topped up his shareholding, acquiring 200,000 ordinary fully paid shares in on-market purchases in mid October at $0.08 per share.

This takes Dai's holding to 5,000,000 shares.

Last week, ICX announced it was in discussions with rail owner Aurizon (ASX: AZJ) for its Consuelo coal project in Queensland.


The Consuelo Project in Queensland's Bowen Basin is located just 10 kilometres from Glencore Xstrata's producing Rolleston mine and east of and east of Bandanna Energy's (ASX: BND) Arcadia Deposit.

The project has an Exploration Target of between 800 million and 1,700 million tonnes of high grade coal, and is located just 25 kilometres from an existing rail head on the Blackwater rail system.

It is also just 25 kilometres from the Blackwater rail line that currently services the Barney Point Coal terminal, the RG Tanna Coal terminal and the Wiggins Island Coal terminal (Stage 1 under construction).

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