Adavale updates Indonesian coal projects
Friday, October 31 2014 - 03:04 AM WIB
Adavale Harner Resources (AHR) (Wholly owned subsidiary of ARL
Paser Project
AHR have been conducting an initial assessment including a desktop study, and is planning to conduct a field survey covering geological assessment, potential deposit and current logistic conditions of the PASER Project. A previous drilling program in the PASER project area shows that there are 5 major coal seam with thickness ranging from 0.7 m to 5.1 m and dipping11?-68?.
The coal bearing formation consists of 2 formations, Balikpapan and Pulaubalang that hosts medium quality thermal coal.
The project owns and operates coal handling and barge loading infrastructure approximately 12km from the mine site and 40km or 87km for barging to Adang Bay Transshipment. Previous loading capacity is rated at around 200tph. The Company expects to decide whether to proceed with the joint operation, subject to completion of due diligence and reaching satisfactory terms.
PPU 1 COAL PROJECT
Planning is still underway to conduct an additional geological mapping of other potential prospect areas together with confirmation drilling for the previous mining area, and also some stratigraphy drilling to and interpret the lateral extent of identified coal seams distribution, in order to assess a p otential resource of GCV5500-6500 (ADB) coal within the concession.
Subject to completion of technical and legal due diligence particularly Clean and Clear status and reaching satisfactory terms, the company intends to enter into a formal agreement to acquire or join in the project
ANGGANA PROJECT
The project offers an opportunity for a low cost operation centered on opening the near-surface pits and using the operations as a base to expand to the multiple seams target within the area. Anggana project is closed to Mahakam River with 5-11 km hauling road from the mine site to jetty with conveyor loading facility and takes about 24 hours for barging to Muara Jawa Anchorage.
Previous loading capacity is rated at around 200tph. Legal and technical due diligence continues on this project, whilst negotiations for an agreement is in process. After this, an activity plan will be started in order to conduct an initial technical data review and audit, as well as a comprehensive deskto p study.
As a part of the legal due diligence it will be determined if the concession area is in the ?Clean and C lear? status.
TAPAN
Exploration Tenement (IUP Eksplorasi) no.C516/126/KPTS/BPT-PS/2010 with the total area of 2053.92 has been granted Clear and Clean Status by the government while Production Tenement (IUP Produksi) No.C540/432/KPTS/BPT-PS/2010 with the total area of 198.88 Ha is still in progress of obtaining th e Clear and Clean Status.
TAPAN CASE
On 7 October 2014 the panel of judges of District Court of South Jakarta announced their Verdict. The Court only announced certain parts of the verdict?in the Board?s view, the verdict was not read out completely in a proper manner. The official copy of the Verdict has not yet been received. As a result, the Judge?s decision is still not clear or certain. However, while waiting for the official copy of the verdict and to retain the right for lodging an appeal in the case in the event that the decision is not in favour of the Company, the lawyer acting for the Company has lodged an appeal in the High Court. (end of excerpt)