Aquarian Gold to spend $2m to explore Sumatra coal prospect
Thursday, January 10 2008 - 11:37 PM WIB
Toronto-based junior coal exploration firm Aquarian Gold Corp. said on Thursday it had budgeted US$2 million for 2008 exploration and development program in the Riau Coal Basin in Central Sumatra.
?Upon completion of the program the company will have defined its coal reserves, currently estimated at potential for 300 million metric tonnes,? it said.
The company has acquired right to exlore for coal in Indragiri Hulu regency covering approximately 52,000 hectares of land. (alex)