Pacific Coal Resources Ltd. (TSXV:PAK) announced it plans to make a normal course issuer bid to cancel up to 10% of its shares on the Toronto Stock Exchange.

The press release is quoted as saying:

The Company is proposing to commence the bid on July 4, 2011, and have it remain open until the earlier of July 4, 2012 or the date on which the Company has purchased the maximum number of Common Shares permitted under the bid.

To read the full press release, click here.