The Asia Miner

APR-JUN 2017

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Volume 14 • Issue 2 | 2017 | ASIA Miner | 17 Indonesia KANGAROO Resources, which is 56%- owned by Bayan Resources, is drilling at Gra- ha Panca Karsa (GPK) Coal Project in East Kalimantan with the aim of confirming previous drilling and gain a better understanding of coal seam geology. The company has signed the drilling contracts and socialised the program to surrounding communities. During the December quarter the company finalised its detailed exploration program for GPK and finalised its tender for drilling and geophysical logging services. The program comprises two stages with approximately 1200 metres of drilling, includ- ing 250 metres of coring, in the first stage fol- lowed by 1000 metres, including 340 metres of coring, in the second stage. All holes will be geophysically logged. Concurrently, Kanga- roo will undertake survey work to consolidate topographical information. Bayan has completed the ownership trans- fer to Kangaroo of nine coal concessions in the Pakar project which were the subject of the December 2010 Sale and Purchase Agreement, however four concessions, TA, AU, BS and CA, could not be transferred due to complications surrounding foreign owner- ship and divestment regulations. The com- pany has obtained initial legal advice from an Indonesian law firm on a structure that may enable it to complete the transaction. Kangaroo has relinquished certain areas on three of the concessions that overlapped with a third-party coal concession of PT Aditya Kirana Mandiri, which paves the way for the government to issue Clear and Clean status for two of these concessions. Another concession, along with four others in this area, also has an overlap with another company, PT Senyiur Sukses Pratama (SSP). Uncertainty surrounding the boundary be- tween the Kutai Kartanegara and Kutai Timur regencies gave rise to the overlap. In 2012, the East Kalimantan government together with the heads of the respective re- gencies agreed on a final boundary which was in Kangaroo's favour and the East Kalimantan government instructed SSP to relinquish the overlapping areas, however in August 2016, SSP filed a lawsuit against the provincial gov- ernment and Kangaroo understands that as long as this remains outstanding, the govern- ment will not issue Clear and Clean status. Kangaroo intends to commence drilling at the TA concession of the Pakar North proj- ect as soon as it has completed the required regulatory permitting. TA shares a common northern border with Bayan's Bara Tabang concession which has been extensively drilled whereas TA only has 11 drill holes across the 5000 hectare concession. Coal stockpiled at a Kangaroo Resources' proj- ect in Kalimantan. Drilling program at GPK project WIRTGEN GmbH · Reinhard-Wirtgen-Str. 2 . D-53578 Windhagen . T: +49 26 45 / 131 0 Surface Mining = Mining made easy. www.wirtgen.com/mining A WIRTGEN GROUP COMPANY 4200 SM: WIRTGEN Surface Miners cut, crush and load material in a single operation. WIRTGEN is the only manufacturer to cover a performance spectrum of up to 3,000 tons per hour with direct loading by conveyor belt. This high output is based on high- performance cutting technology and a wealth of experience acquired in three decades of application technology. Take advantage of innovative solutions from the technology leader. www.wirtgen.com

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