Bowen Coking Coal Ltd. agreed to purchase the 14-square-kilometer Isaac River coking coal project in Queensland, Australia.
The company will pay A$200,000 for the acquisition to Aquila Coal Pty. Ltd. and Eagle Downs Pty. Ltd., it said Dec. 4.
The statutory expenditure on the project in the first 12 months is about A$196,000. However, the company may look to defer some of the expenditure to the following year.
Bowen Coking Coal began trading on the ASX in October after completing a reverse takeover of Cabral Resources Ltd. by Cape Coal Pty. Ltd.
