Intrepid Mines has pledged to appeal a South Jakarta District Court ruling which annulled the Australian miner’s Tujuh Bukit joint venture (JV), while giving a 70% project stake to IndoAust Mining and Paul Michael Willis. Intrepid says the appeal is warranted because important elements of the case appeared to have received limited acknowledgment.
A financing from investment firm Chapmans Ltd will enable Jatenergy to boost production at its Indonesian coal projects. An initial injection of $200,000 will go into the Jongkang project for a 50% profit share with Jatenergy.
Killara Resources has received confirmation from its proposed coal off-taker Coal Operations & Assets (COPA) that it has completed due diligence of mining reserves and production at the PT Borneo Emas Hitam (BEH) project in East Kalimantan. In accordance with the agreement which was signed in late October, an advance payment of US500,000 is now due to Killara.
Kalimantan Gold Corporation is close to completing an extensive drilling and exploration campaign at the KSK copper target. The 2013 joint venture program, which cost US$16.2 million, focused on five main areas - surface mapping, remote sensing, drilling, assaying, and data compilation and modelling.