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Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES


Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquisition of Pakar Coal Project from Indonesian coal company PT Bayan Resources Tbk (BYAN), as quoated by Insider Stories.

KRL's shareholders vote overwhelmingly in favour of the deal at an extraordinary general meeting in Perth today. KRL announced the proposed acquisition in December 2010. Bayan's shareholders gave approval on the deal last week.

Pakar, which is located in Kalimantan, is one of Indonesia's largest thermal coal projects, with an estimated JORC coal resource of 3.019 billion tons of thermal coal with an average calorific value range of 5,215 to 5,230 kcal/kg.

Under the terms of the transaction, KRL has issued 2.31 billion new shares to Bayan and other parties in order to acquire the Pakar Project, entitling Bayan a 56% controlling shareholding in Kangaroo. 



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Recent News

Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...


Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...


Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...


Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...


Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...


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