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Pan Asia Corporation Adds Key Noble Energy Executive To Board

Pan Asia Corporation (ASX: PZC) has appointed the highly-experienced Tim Gazzard as a non-executive director of the company

Gazzard currently holds the position of Senior Vice President with Noble International Pte Ltd in Singapore and is head of Noble Group's (SGX: N21) Indonesia Energy Coal Business.

Gazzard previously worked with Barclays Capital in their Mining & Metals Investment Banking team in London, and prior to that as a Mining Engineer with Thiess (and later STRACON) in Australia, Indonesia and Peru.

Domenic Martino, chairman of Pan Asia, commented: "We welcome Tim to the team. His expertise will be of huge value to the company as we move closer to development of our flagship project."

In March this year Pan Asia announced that Noble Group had taken a 5.34% equity stake in the company and had been appointed as strategic advisors for its TCM Thermal Coal Project.

The project is a high calorific value (6200 gar) underground thermal coal project in South Kalimantan, with Pan Asia seeking to secure all pre-production approvals by the end of 2013 so that mine development can start.

Pan Asia has completed a positive base case Feasibility Study on the southern half of the TCM Project and subsequently, significantly upgraded the JORC resource to 129 MT mineable seams.

The company is currently planning the upgrade of the Feasibility Study to include the increased resource which should provide a mine-life in excess of 30 years.

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