Realm working on advancing Katingan Ria?s permit status

By Peni Pedriawan

ASX-listed firm Realm Resources Limited said that it continued working with its partners on advancing status of permitting for Katingan Ria Coal Project in Central Kalimantan.

Realm said that the company and its partners agreed to amend the date for the Tranche 2 Payment, the time at which its interest in the Katingan Ria Coal Project in Indonesia is increased to 75 percent from the 51 percent held currently.

The revised date remains two months from satisfaction of all conditions precedent, but with 31 March 2013 as the new cut off date.

The company?s application for the production forestry permit continues to progress through the regulatory process. PT Katingan Ria anticipates receiving this permit, which is a prerequisite for commencement of mining operations, by December 2012.

Editing by Adianto P. Simamora