Kangaroo Resources Limited (ASX:KRL) To Join The Ranks Of...

Kangaroo Resources Limited (ASX:KRL) To Join The Ranks Of Leading Coal Producers After Completing Acquisition Of Pakar Thermal Coal Project

Perth, June 14, 2011 AEST (ABN Newswire) - International coal producer Kangaroo Resources Limited (ASX:KRL) is aiming to join the ranks of the leading coal producers after having received final shareholder approval to complete its previously announced $277 million acquisition of the Pakar Coal Project from the leading Indonesian coal conglomerate PT Bayan Resources Tbk ("Bayan") (JAK:BYAN).

Pakar, which is located in Kalimantan, is one of Indonesia's largest thermal coal projects, with an estimated JORC Code Total Coal Resource of 3,019 million tonnes of thermal coal with an average calorific value range of 5,215 - 5,230 kcal/kg (adb).
http://www.abnnewswire.net/press/en/67906/

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Interesting now to know what value the Pakar thermal coal resource has and whether this is the main target for PT Bayan TBK in their talks with Kangaroo? Based on their holding in KRL the 56.05% interest is valued at about A$115 million taking into account the present market cap of Kangaroo at 6c a share. [ not sure whether the $277m was Aussie or US dollars ]