Killara in talks on binding deal on coal project
Monday, July 30 2012 - 10:18 AM WIB
By Ruli Setiawan
Killara Resources Limited, ASX-listed exploration and development company, reported that the company was in progress to prepare a binding agreement on the Bintuni Basin Coal Project in West Papua.
The Bintuni coal project consists of two concessions covering a combined area of 48,600 hectares.
?Full detail of transaction, the coal concession and due diligence work program will be reported once the agreement has been executed,? the company said in quarterly report submitted to the ASX.
Killara is also continuing to advance discussion on the plan to acquire two coal projects in Kalimantan.
Editing by Adianto P. Simamora