News and Announcements
Padang Research Report – Alpha Securities
- Published April 27, 2012 1:37AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Padang Resources Ltd (ASX: PXR; formerly Palace Resources Ltd) has announced that it had entered into a Memorandum of Understanding (MoU) to acquire a 70% interest in the Paser Project, a prospective Indonesian coal project located in East Kalimantan province.
The project area comprises of a 43ha production license (IUP), with all environmental and mining approvals granted. PXR have commenced a due diligence program, with the company in the process of mobilising a technical team.
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