An option agreement was signed Fitzroy on 14 August 2013 to acquire 100% of Premier Coking Coal, a US based coal exploration and development company that holds an option to acquire the Emmaus and Blackstone projects, as well as its subsidiary, Premier Coking Coal LLC.
Under the terms of the agreement, the funds issued by Fitzroy will be used by Premier to make the next option payment of US$250,000 to Emmaus Partners under the Emmaus option agreement.
Currently, Fitzroy, which has completed its due diligence program, is finalizing the necessary work required to complete the transaction with Premier.
Fitzroy Resources is base metal focused with two projects in Central and Southern Queensland, Australia.
