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25 Sep 2014

Annual Report 2014 to Shareholders APAC Coal Limited's corporate governance practices were in place through the year 30 Jun 2013 unless otherwise stated. APAC Coal Limited complies in all material respects with the Council's best practice recommendations.




Click here to retrieve share price delayed by 20 minutes, sourced from the Australian Stock Exchange.

APAC Coal Limited “(APAC”) has a 30 Year Concession to explore for coal over a 23,124 ha parcel of land in East Kalimantan, Indonesia. A JORC compliant resource of 5.1 million tonnes has been identified which is expected to form the basis of an initial mining operation. This resource occurs within a very small area of the Concession(3.8%) with over 90% of the Concession yet to be explored to any significant degree. Kalimantan is the principal coal producing region of Indonesia, the world's 7th largest coal producer.

APAC is a subsidiary of Singapore listed Magnus Energy Group Ltd (“Magnus”), which operates in the upstream petroleum and coal business. Magnus has committed to providing a low cost Management and Finance Team in the initial phase of the development of APAC.