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Ascot Resources Heads To Market

Ascot Resources' (ASX: AZQ) shares are currently in pre-open after the company was granted a trading halt in relation to a capital raising.

The halt will remain in place until the earlier of the announcement being released or market open on 30 October 2013.

Ascot is focused on its flagship 90%-owned Titiribi coal project in Columbia and had acquired the Uraba coal concession in July.

A recent Pre-Feasibility Study has confirmed the technical and economic feasibility for starter mining operation at Titiribi with a minimum 5 year Life-of-Mine (LOM) based on production rate of up to 400,000 tonnes per annum.

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