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Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisition finalization (to 75%) and project development work begins
COALspot.com - Realm Resources Ltd announces that it has completed the acquisition of Kalres Limited and through Kalres acquired 51% of PT Katingan Ria (PTKR), an advanced thermal coal exploration project located in Central Kalimantan, Indonesia, for a total transaction value of US$12.6 million and 15 million Performance Rights.
The Katingan Ria Project has the potential to establish Realm as a thermal coal producer within the next 12 months in a nation that has an established coal industry; and is ideally located to export to the high demand southeast Asian markets. Kalres is party to a Master agreement under which Kalres can acquire up to a 75% interest in PTKR.
Commenting on the acquisition, Realm's Managing Director Richard Rossiter said, “ This is a company transforming acquisition. We are excited to have reached this significant milestone in the company’s progress as a coal developer. Work now begins to accelerate the path to production and complete the acquisition to the agreed 75% owner ship level .”
According to the company's report to ASX Australia, A feasibility study on the Katingan Ria Project will be refined with the aim of bringing the Katingan Ria Project into production by mid CY2012. In addition, PTKR will progress the Pinjam Pakai Exploitation license (which allows mining) in respect of 1,500 hectares in the southern part of the Katingan Ria Project as part of Tranche 2 under the Master Agreement. Tranche 2 acquisition is scheduled to be completed by 31 March 2012 subject to satisfactory feasibility study results.
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Friday, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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