EastCoal eyes AIM listing

EastCoal yesterday announced its application for admission on the junior stock market, expected before the end of December. The mineral development company has already raised £9.5m through a private placing and when admitted to AIM, it is expected to have a market cap of around £42m. For the past three years, EastCoal has been focused on the development of coal mining assets in the Ukraine, and wants to increase current production levels to around 3m saleable tonnes a year.