Increased Coal Resources Help Coal of Africa Shares

Bloomberg reported that shares of Coal of Africa (ASX:CZA) increased following an increase in South Africa coal reserves.

As quoted in the market news:

The stock advanced for a second day, climbing 9.2 percent to close at 5.33 rand, the biggest one-day gain since Nov. 24. Estimated resources in the Greater Soutpansberg area expanded to 8 billion metric tons from 1.5 billion tons, the company said in a statement yesterday.

Click here to read the full Bloomberg report.