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Highlights - Leading International Coal Group KOPEX commissioned to undertake high level independent study on the TCM Project
- Follows 73% Increase in JORC Resources
- Study provides a platform for development
Pan Asia Corporation Ltd announced that it has commissioned Kopex Mining Contractors (part of the Kopex Group) to undertake an independent study on its flagship TCM Coal Project in South Kalimantan, Indonesia. CEO Alan Hopkins said the study was a valuable step in the Company’s plans to move the highly-prospective project toward development. “With the recent big upgrade to our JORC Resource on TCM, we are pleased to be able to move quickly to independent study phase,” he said. “This study will provide a key platform for the development of this project. “ The investigation will include: Identification of underground mining areas The preparation of appropriately designed mine plans, including layouts, dimensions, roof support designs and surface infrastructure layouts Detailed estimates of Capital & Operating Costs and a detailed financial analysis of the proposed underground mining operations Planning for the compilation of all data required to prepare a feasibility study for optimum project development. Pan Asia expects the study to be completed by mid-year. The commissioning of the Kopex report follows the recent announcement of a 73% increase in JORC resources for the TCM Project. The JORC Resource increased to 53.2 million tonnes - comprising 22.4 million tonnes of Indicated coal resources and 30.8 million tonnes of inferred coal resources. The quality of the coal has an average calorific value of 6,566 kcal /kg (ADB), 6.41% total moisture, 13.52% ash and 1.52% sulphur.  TCM Project Adjacent to PT Arutmin ATA Coal Mine Competent Persons’ Statement The information in this release that relates to the Coal Resources of PT. Transcoal Minergy (“TCM”) is based on information compiled and reviewed by Mr. Marek Rosa, who is a Member of the Australasian Institute of Mining and Metallurgy (The AusIMM) and works full time for PT Kopex Mining Contractors based in Jakarta, Indonesia (Member of Kopex Group Poland). Mr Rosa is a qualified geologist who has more than 20 years of relevant mining and geological experience in coal, working for major mining companies in Poland (17 years) and in Indonesia (4 years) as a consultant. He has National Polish geological license No II-1140 for research, exploration, resource and reserve estimation of deposits of basic minerals and coalbed gas methane. During this time he has either managed or contributed significantly to numerous mining studies related to the estimation, assessment, evaluation and economic extraction of coal in Poland and Indonesia. He has sufficient experience which is relevant to the style and type of deposit under consideration especially for Underground Mining and to the activity he is undertaking to qualify him as a Competent Person for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The estimates of Coal Resources have been carried out in accordance with the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (December,2004) and Mr Rosa consents to the inclusion in this release of the Mineral Resources in the form and content in which it appears. "The Kopex Group offers comprehensive solutions for underground mining. It is a respected and acknowledged manufacturer and supplier of high-class machinery and equipment as well as modern mining technologies and specialist underground mining consultancy works. (Deleted a sentence here as too obviously promotional for a third party) The Kopex Group comprises over 50 companies worldwide whose activities are complementary to each other during project execution. Kopex is listed on the Warsaw Stock Exchange. Kopex Mining Contractors has provided an initial geological assessment of the resource and has the ability to complete conceptual, pre feasibility/feasibility studies and underground mine design through to provision of all mining equipment, underground mine construction and operation." |
