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Provider: Thomson Reuters Stock Report

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Killara Resources Ltd Acquires 80% Interest In PT Borneo Emas Hitam

Wednesday, 8 May 2013 07:42pm EDT 

Killara Resources Ltd announced that it has signed a binding Memorandum of Understanding to acquire an 80% equity interest in PT Borneo Emas Hitam (BEH), a coal producer. Pending a favourable completion of its due diligence, Killara will pay a minimum of USD 2.2 million for an 80% equity interest in BEH and its wholly owned mining concession, which is located in East Kalimantan, Indonesia. Should an independent technical assessment of the concession by Killara establish a mineable coal deposit of greater than 733,333 tons, the company will pay AUD 3.00 for each additional ton. 

Company Quote

4 Feb 2015