Aside from raising funds from a planned P800 million initial public offering, Coal Asia Holdings is talking to several potential foreign strategic investors for its coal mining projects in Mindanao. Chairman Harald Tomintz said these talks are in the preliminary stages. The company previously negotiated with a Canadian mining firm but that did not materialize. With the coming IPO, the company should have enough cash to bring its coal mines into production, so it is not in a rush to get a strategic partner. The P726.87 million net proceeds from the IPO should allow the company to bring its Davao Oriental mine into production by 2014 and its Zamboanga Sibugay mine by 2015.