Kangaroo Resources advised that it has completed the acquisition of the remaining 15% of the Mamahak Coking coal project in East Kalimantan, Indonesia, increasing its ownership of its producing coking coal asset from current 85% to 100%.
Kangaroo Resources announced that it has completed a funding agreement with key institutional investors to raise US$14 million through a convertible note instrument to further develop coal production at its projects in Indonesia.
Kangaroo Resources reported to have commenced mining at the Mamahak coking coal project in East Kalimantan. The operational team has now completed the removal of overburden and exposed up to 15,000 tonnes of fresh coal for mining.
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