Pan Asia reports JORC upgrade at S. Kalimantan coal project
Thursday, November 8 2012 - 12:17 AM WIB
By Demas Simbolon
ASX-listed Pan Asia Corporation announced a further JORC upgrade at its flagship TCM High Coal Project in S. Kalimantan to 177 million tons and an increase to 129 million tons on the mineable seams.
CEO Alan Hopkins said ?This very large increase in tons allows us to target a mine life of more than 30 years and significantly expands the resource base for the planned updated feasibility study. Combined with the now expected higher mining recoveries and lower capex, we have the chance to really boost the NPV for this high CV project.
The upgrade JORC Resource calculation was undertaken by European coal industry group Kopex Mining Contactors.
Editing by Adianto. P. Simamora