the tapan deal is done and all secured !

http://theindonesiatoday.com/headline-news/1023-australias-adavale-finalizes-acquisition-of-thermal-coal-project-in-jambi.html

Written by Hatman Bintang Friday, 18 June 2010 16:44 PDF Print E-mail

Australian-listed company Adavale Resources Ltd (ASX:ADD) said on Friday that it has completed the acquisition of Tapan thermal coal project in Jambi, Sumatera, held by United Energy and Resources Pty Ltd.

The two sides entered into an agreement to acquire the thermal coal project on October 30 last year. Under the agreement, Adavale will fund an initial exploration program to seek upgrade the existing 15 million tons inferred coal resources at the Tapan project to a measured coal resource of 5 metric tons.

The acquisition completion of the concession adjacent to the Tapan project will to increase the total area from 5,000 hectares to approximately 13,000 hectares. The company will commenced on identifying the potential coal resource across the total 13.000 hectares for the next 6 months, as recently Tapan project has an inferred resource of 15 million tons.

Adavale also has completed the acquisition of United Energy and Resources Pty Ltd (UER), plus its subsidiary in Indonesia PT United Mining and Engineering Services (UMES). The acquisitions bring with it an experienced and qualified team of both and Indonesian exploration and mining professionals.Australia.

The first production at Tapan is expected to start at the fourth quarter of 2010.

Adavale has acquired Uniteds rights to a MOU over four coal concessions within the Jambi Province. Adavales initial target is within an Exploration Licence of 10,000 hectare located close to the provincial capital of Jambi.