Blumont

Blumont: to lift halt at 10.30am. Enters into conditional agreement with Celsius Coal (CLA) to subscribe for 227.3m new shares constituting 11.6% of the enlarged share base of CLA, at a subscription px of A$0.022 /sh. The subscription is intended to be applied towards the invmt projects and working capital requirements of CLA. CLA is listed on ASX (ticker: CLA AU). It is a metallurgical coal explorer and focused on developing coking and thermal coal deposits in the Kyrgyz Republic. CLA owns 80% of its Uzgen Basin Coking Coal Project (comprising: Kargasha; Kokkia; and Min Teke), which cover an established Soviet-era coking coal resource. It also owns 90% of its Alai Range Projects (comprising: Sary Mogol and Bel Alma) (www.celsiuscoal.com.au (http://www.celsiuscoal.com.au)). CLA was last traded at A$0.025, which translates to 35.8x P/E, 3.4x P/B.