Waratah signs trial shipment of coal from S. Kalimantan

By Romel S. Gurky

ASX-listed Waratah Resources Limited announced Monday it has entered into an agreement for the sale to an international coal trading company of a 55,000-ton trial cargo of thermal coal from South Kalimantan.

The expected dispatch of the cargo is late August 2014, the company said in a statement.

Waratah said it has over the last 9 months developed a good relationship with its Indonesian partner concerning the supply of quality thermal coal from a long term producing mine. ?This will be the first transaction where Waratah Resources has owned and on‐sold the cargo,? the statement said.

Subject to the success of this cargo and further negotiations with the buyer, the company anticipates this trial being a precursor to a series of further revenue generating transactions potentially leading to a longer term supply agreement.

Executive Chairman Ben Kirkpatrick commented: ?This is another significant step forward in the development of Waratah?s Commodities Trading Division.?

Editing by Reiner Simanjuntak