Killara, COPA agreement moves ahead
Friday, November 22 2013 - 04:31 AM WIB
ASX-listed Killara Resources announced on Friday that Coal Operations & Assets Pte Ltd (COPA) has verbally confirmed its satisfaction in conditions within the Coal Sale and Purchase Agreement both entered into on the October 24, 2013.
It should reflect a confirmation of minable resource and production scheduling at Killara's PT Borneo Emas Hitam project, it said in a statement.
The agreement allows (COPA) as the off-taker of 100 percent of the coal output from Borneo.
In accordance with the agreement an advance payment of US$500,000 was due as of close of business on the November 21, 2013 and COPA have requested that the payment date be extended to November, 30, 2013, the statement added.
Editing by Dadan Wijaksana