Cuesta Coal (ASX: CQC) will today have its first full day of trading on the ASX, after the company began public life at 11am on Friday 4 May with around 142 million shares on issue.
Cuesta closed at the $0.17 mark on Friday, with the focus on coal exploration and development in Queensland, while also having a portfolio of exploration permits in all of the State’s major coal bearing basins.
Importantly - the company also has interests in tenements that cover more than 11,000 square kilometres of exploration ground in the Bowen, Surat/Clarence Moreton and Galilee Basins.
Cuesta already has a combined Inferred JORC Resource of 56.3 million tonnes, which it aims to increase over the next 12 to 18 months.
The initial exploration focus will be on six key projects, with plans to identify one or two projects for medium term development.
Cuesta was formed in September 2011 to take up all securities on issue in Blackwood Coal, a private Queensland focused coal exploration company.
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