KRL 0.00% 14.5¢ kangaroo resources limited

This looks like a smart deal ....for Bayan. 29 December 2010...

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    This looks like a smart deal ....for Bayan.

    29 December 2010 KANGAROO UNVEILS $277M TRANSACTION TO BECOME LEADING INDONESIAN COAL PRODUCER ACQUIRES WORLD-SCALE THERMAL COAL ASSET AND FORGES STRATEGIC RELATIONSHIP WITH LEADING COAL CONGLOMERATE PT BAYAN RESOURCES Key Points: KRL to acquire 99% of the large-scale Pakar Thermal Coal Project, a fullydeveloped, integrated thermal coal operation in East Kalimantan, from a leading Indonesian coal company PT Bayan Resources Tbk for $277M in an all script deal Pakar hosts JORC total Coal Resources of 3.8 billion tonnes# [inclusive of total Coal Reserves of 116 million tonnes#] Bayan, a US$4.5B Indonesian listed coal conglomerate, has signed a Memorandum of Understanding to immediately start managing all of KRL’s Indonesian coal operations prior to the completion of the above transaction Bayan to become KRL’s majority shareholder with an approximate 57% stake following completion of the transaction, which includes the injection of a further US$18 million into KRL to further boost its working capital Pakar Coal Project ready for production in 2011.
 
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