KAL Energy, Inc. Files Super 8K
Friday February 23, 9:29 am ET
Kal Energy Inc. is pleased to announce that an 8K has been filed disclosing the details of the acquisition of Thatcher Mining Pte ("Thatcher"). Thatcher has the rights to several coal concessions situated near the Mahakam River in North Eastern Kalimantan, Indonesia. In a geological report prepared by Consulting Geologist, Jonathan O'Dell, it is estimated that blocks 16 & 24 could contain over 192,000,000 tons of thermal coal. The resource estimate is based on sampling outcrops, visual inspections, trenching and detailed field surveys. This is not a compliant resource. It is an estimate from management.
The properties are situated near the Mahakam River which is a main transportation system for barging coal to markets. The property has over 150 kilometers of access roads. "KALG" is currently upgrading current roads and building on site facilities. The work program will include mapping and drilling the known structures on the property. Today, Indonesia is the leading exporter of thermal coal. Export prices of thermal coal vary from $30.00 to $60.00 plus per ton. The company will be able to estimate the value its resource upon completion of a work program.