Coalspur Mines Limited (TSX:CPT, ASX:CPL) announced results for the quarter ending 31 December 2012.
As quoted in the press release:
- The Company secured a US$300 million senior debt commitment from EIG Global Energy partners
- Proceeds from the Facility will fund the majority of the development capital required to achieve first production at the Vista Coal Project
- The Facility is expected to be executed and effective by the end of the quarter ending 31 March 2013
- Securing this funding helps maintain the timeline for Vista where construction is scheduled to commence in 2013 with first production in 2015
Love It Or Hate It: 40% Of Electricity In The United States Is Generated From Coal. China uses even more.
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