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Firestone Energy Posted: Thu, 30 Apr 2009 [miningmx.com] -- Firestone Energy has entered into further negotiations with its joint venture partner Sekoko Resources to conclude the "T2" transaction which includes over 4 properties in close proximity to the 2 properties forming part of the current JV with Sekoko, Tawana announced in its March mining exploration quarterly report. The transaction will deliver a 60% interest in four additional farms. "Together the six farms comprise one of the largest land holdings in the Waterberg coalfield and through this transaction will substantially expand the company's coal inventory in the area," Tawana said. To meet immediate working capital requirements during the quarter the company placed 22 million shares to investors raising $249,500 and drew down $300,000 from an available loan facility of $500,000.
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