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Diversified coal gasification play Cluff Natural Resources (CLNR) has raised £2.2 million to advance projects including one find with a potential 450 to 500 billion cubic feet of gas, worth some $1 billion (£662 million). The company raised the money at 4.25p, having tapped AIM for £2 million in December at a lesser 3p, and expects to spend £1.4 million of it preparing this year to seek planning approval, including submitting an environmental impact assessment, for test production at its key Kincardine underground coal gasification (UCG) project in Scotland’s Firth of Forth, which has been estimated to hold up to 350 million tonnes of coal.
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