SYDNEY (Yosefardi) – Killara Resources Limited recorded a net loss after tax of $507,398 for the half year ended December 2013, narrowed from $2.84 million in the same period of 2012.
In keeping with Killara’s focus on coal mining opportunities within Indonesia, Killara successfully acquired an 80% interest in PT Borneo Emas Hitam (East Kalimantan) and an option to acquire a 60% interest in an additional company PT Pagan Taka (Central Kalimantan).
Killara has completed the first phase of technical due diligence and field reconnaissance at Borneo Emas Hitam (BEH). Current porduction permitting, land compensation, infrastructure, forestry classification and ongoing exploration work will allow Killara to commence coal production from its project with first coal sales anticipated in the March 2014 quarter.
While The Pagun Taka production permit is listed as çlean and clear’by Indonesia’s department of Energy and Mineral Resources. The mining license expires 12 December 2032.
Killara continues to assess new opportunities in Central Kalimantan, East Kalimantan, and South Sumatra. On 3 February 2014, the directors agreed to extend their loan facility by $100,000, taking the total facility to $700,000.