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ASF Group Signs Formal Agreements To Acquire Queensland Coking Coal Assets

China-Australian investment house ASF Group (ASX:AFA) has reached formal agreements to acquire a 68.205% equity interest in Civil & Mining Resources for $1,079,270.50 in cash.

The acquisition will give the company a portfolio of prospective coking, PCI and thermal coal projects in Queensland.

Completion of the Acquisition is subject to certain conditions including but not limited to the approval from the Foreign Investment Review Board.

CMR

CMR Coal has four Exploration Permits for Coal and 22 applications for EPCs in Queensland covering about 14,182 square kilometres throughout all major coal-bearing basins in Queensland.

These are situated in close proximity to operating mines, infrastructure and proven economic coal resources and offer potentially immediate to longer-term development timeframes.

Analysis

That CMR's portfolio of exploration permits is located throughout all the major coal-bearing basins in Queensland and are situated in close proximity to operating mines, infrastructure and proven economic coal resources is of interest.

These offer ASF Group a pipeline of projects to pursue both in the short and long term.

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