Golden Energy plans coal mine acquisition
Monday, June 22 2015 - 04:23 AM WIB
SGX-listed Golden Energy & Resources (Ltd), the majority owner of IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS), plans to launch a rights issue in mid or August of this year, the proceeds of which to be used for working capital, repay debts, and finance acquisition of a new coal mine, Kontan reported on Monday.
The paper quoted GEMS Corporate Secretary Sudin Sudiman as saying that the targeted proceeds is about $215 million.
He added that the company was looking for producing mine with minimum reserves of 50 million tons, located in Sumatra, Kalimantan, or other areas. (*)