Palace, JV Partner enter into production and development deal
Wednesday, May 1 2013 - 04:38 AM WIB
By Peni Pedriawan
ASX-listed Palace Resources Ltd has entered into production and development agreement with JV Partner, which holds 100% of coal development project (KCM Project) in South Kalimantan.
The KCM Project covers a total license area of approximately 200 hectares in Desa Lok Tunggal District Pengaron, the company said on Wednesday.
It said that good quality haul roads exist in and around the concession area with the intermediate stockpile 25 km from the mine and jetty locations within 35km of the intermediate stockpile.
Palace is currently in the process of mobilising a reconnaissance and drilling team to validate the economic viability of mining.
Editing by Adianto P. Simamora