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Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO


COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 million for the company’s Initial Public Offering (IPO) to list on the Australian Securities Exchange (ASX).

The Statement further said that, subject to the receipt of the $15 million investment by Beijing Guoli Energy Investment Co. Ltd as set out in the Prospectus, the company will have exceeded $24 million of confirmed support for the proposed IPO.

Cuesta Coal’s Managing Director and CEO Matt Crawford said: “We are delighted with the strong support we have received from investors both locally and internationally. This confirms our view that Cuesta represents a compelling investment opportunity with a combination of quality coal exploration and development assets in Queensland’s world class coal basins, and a proven and experienced Board and management team.”

For further details visit www.cuestacoal.com.au

About Cuesta Coal
Cuesta Coal Limited (“Cuesta”) was formed in September 2011 to acquire all of the securities on issue in a private Queensland focussed Australian coal exploration company called Blackwood Coal Pty Ltd in preparation for the IPO.

Cuesta has assembled a diverse portfolio of thermal and coking coal exploration prospects within the Bowen, Surat and Galilee basins in Queensland. The Company’s core projects are well situated geographically with over 11,000km2 of exploration ground in total.

Cuesta’s balanced portfolio consists of a pipeline of projects ranging from advanced exploration requiring resource definition drilling, to conceptual lateral opportunities requiring scout drilling. The projects are located in close proximity to current and future planned infrastructure.

Cuesta has an advanced exploration programme underway with exploration commencing in the second quarter of 2011 with in excess of 6,000m of drilling completed at three completed project sites. The company has established operating systems to fully undertake its planned 2012 & 2013 drill programmes and intend to drill 10,000m during 2012 alone.



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