Realm Resources to raise stakes in Katingan Ria project

ASX-listed Realm Resources Ltd said it is in the process of completing the conditions precedent required to acquire the remaining 24 percent for a total of 75 percent interest in the Katingan Ria thermal coal project in Central Kalimantan by 31 March 2012.

The Katingan Ria project has the potential to establish Realm as a thermal coal producer within the next 12 months in a nation which has an established coal industry and is ideally located to export to the high demand Southeast Asian markets.

To support the company?s expansion to Indonesia, it is restructuring its executive team. The team will focus on the acquisition and development of thermal coal projects in the country.

The company said it has appointed Andrew Matheson as Managing Director to lead the company?s expansion into coal with the immediate priority being the finalization of the acquisition of the Katingan Ria thermal coal project in Central Kalimantan.

Matheson, who has a B.Eng (Geological), has a 25 year track record in the resources industry including CEO of Carbon Materials with the Talbot Group, General Manager of Aquila Resources? coal portfolio and various project, engineering, commercial and operational roles with BHP Billiton and GHD. He has extensive experience with project development, mining and logistics within Australia, Indonesia and Africa.

Commenting on the changes, Realm's Managing Director Andrew Matheson said, ?We are in an exciting phase of the Company?s development and I look forward to leading Realm on its path to become a significant coal producer in the future". (romel)