coal producer in april, $2.3 million m/c

Confirmed coal quality - calorific value 7,382 Kcal/kg, moisture content 6.37%, ash content 7.52%, sulphur content 2.2%.

Australian mineral explorers operating in Indonesia have been experiencing costly delays due to disagreements with land owners, causing massive price discounting, and in PXR's case, pricing inefficiency... not all explorers in Indonesia are facing the same problems -

PXR have validated agreements with the land owners, who have also signed contracts pledging their full support for PXR to mine and sell coal from the 43 Paser Project.

Resource expansion drilling has been completed and results are expected at any stage.

PXR has approx $450k so will require funding to bring the coal mine into production, planned for April this year.

Coal is near surface > low capex; low opex due to factors listed below:

Quality haul roads exist in and around the concession area... jetty and deep water harbour just 14 km away, with an existing operational port nearby... distance by barge to the loading facility is under 30km.

All relevant local Government permits and approvals have been granted:

"Awarded a UKL/UPL permit from the Environmental Impact Control Agency confirming the satisfactory environmental impact assessment for coal mining to commence."

"Confirmation that the IUP holder (land owner) has a valid agreement with the owners of the network of roads within the permit and directly from the permit area to the jetty".

"Confirmation from the IUP holder has a permit to use the Jetty on the Apar River approximately 14 km from the permit for the purpose of loading coal onto barges".