Kangaroo Metals Limited announce that both legal and technical due diligence on the Mitra Bara Karya and Bara Pratama thermal coal projects in Indonesia have been completed to the satisfaction of the company. Kangaroo Metals Limited will now progress towards finalising the joint venture agreement with Alexis Minerals International Pty Ltd and seek the relevant shareholder approvals required to complete the transaction.
Kangaroo Metals announced that it has acquired the option to enter into a Joint Venture over two coal concessions owned by Alexis Minerals International Pty Ltd – Bara Pratama and Mitra Bara Karya, in East Kalimantan, Indonesia.
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