Killara?s coal output lower than expected
Thursday, March 27 2014 - 08:00 AM WIB
ASX-listed Killara Resources Ltd announced on Thursday that production at its PT Borneo Emas Hitam coal project in East Kalimantan, which commenced in February 2014, has resulted in the extraction of 4,500 tons of coal which has been stockpiled near Killara?s jetty/loading facility.
?The total tonnage produced is lower than anticipated due to factors outside the control of Killara. Management have been working with contractors PT Berkah Ciwi Lestari Kaltim to overcome production delays and bring coal production back in line with forecasts,? the firm said in a statement.
The lower coal production also means that sales which were expected to occur in the March quarter are now expected in the following quarter.
The firm remains optimistic that the production of coal will resume at acceptable levels in the June 2014 quarter. It however does not specify ?the acceptable levels?.
Editing by Johannes Simbolon