News and Announcements
Padang Resources Executes Agreement to Acquire 70% Interest in Paser Pte Ltd
- Published April 16, 2012 1:42AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Padang Resources Limited (ASX: PXR) (Padang or Company) is pleased to announce that it has signed an MOU with the shareholders of Paser Pte Ltd (Vendors), a company incorporated in Singapore, to acquire 70% of the issued shares in the capital of Paser (Acquisition).
Paser has entered into a conditional and binding MOU with PT Gunung Mentari Mining (PT GMM), a company incorporated in Indonesia, to acquire a 100% joint venture interest (JV Interest) in a coal project in East Kalimantan, Indonesia (Paser Project).
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