Seeking Alpha

Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
Proactiveinvestors
My blog:
Proactiveinvestors
  • Pan Asia Corporation Tops Up Funds To Accelerate Indonesian Coal Studies  0 comments
    Dec 7, 2012 1:34 AM

    Pan Asia Corporation (ASX: PZC) has received firm commitments from sophisticated investors for a placement raising A$560,000 to accelerate studies at its flagship TCM Coal Project in Indonesia.

    Under the placement, Pan Asia will issue 8 million shares at $0.07 each.

    Around 1.8 million of the shares will be taken up by new non-executive director Mitch Jakeman, subject to shareholder approval at the general meeting in January.

    Pan Asia recently executed three key Memorandum of Agreements with mine design and mining contractors in China, namely:

    - CCTEG China Coal Technology Engineering Group (BHEC - CCTEG) to update the mine plan targeting significantly higher recoveries;

    - Huamei Group Company to undertake development and contract mining operations; and

    - Zhongding International Engineering Group (ZIEC) to participate in the development and undertaking of contract mining operations.

    Pan Asia plans to execute a detailed feasibility study update with BHEC - CCTEG once the scope of works and all commercial terms are finalised. This study should take around four months to complete.

    Internal financial modelling of the expected outcome projects very significantly enhanced project values even at current coal prices.

    Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.