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Property News
October 27, 2010
Pan Asia Corporation reported its maiden coal shipment from the Nadvara coal project located in East Kalimantan, Indonesia. The 51,616 tonne shipment is the first under a four-year offtake agreement between Pan Asia/Innovation West and Noble for the delivery of 4.8 million tonnes of coal.
Pan Asia Corporation announced that the company entered into a binding coal purchase & finance agreement with Noble Resources Pte Ltd which has agreed to purchase 4.8 million tonnes of coal over the next four years from the Nadvara mine in East Kalimantan, Indonesia.
Pan Asia Corporation Ltd announced that the Company has closed its A$5,000,000 placement fully subscribed. The raising of this sum will provide the Company with funds to invest in further promising projects, including the Nadvara and Perdama Maju Utama projects in East Kalimantan
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