Jatenergy revises statement on Katingan project
Monday, September 3 2012 - 11:33 AM WIB
Australian-listed energy firm Jatenergy submitted a statement to ASX as correction applying to page 5 of its previous notice on the company?s Share Purchase Scheme on Katingan Project issued on 6 August 2012.
The company earlier said that Katingan project has exploration potential exceeding 40 million tons.
It is now stating that "the project has a substantial 36.52?43.07 million tons Exploration Target of medium quality thermal coal with a calorific value range of 5,400?6,035 (arithmetic mean 5,518) kcal/kg (adb) and corresponding moisture of 12?16%, which is within specification for a thermal coal product. The total sulphur reports were notably low, with no determinations greater than 0.3% (adb). Ash content ranged from 1.4 to 7.9% (adb) and volatiles from 38 to 44% (adb)."
The statement said that Jatenergy has the rights to 80% of the Katingan project and was in discussion with several interested parties on developing or divesting this tenement.
?In relation to clause 18 of the JORC Code, the potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource,? it said.
Editing by Adianto P. Simamora