|- First fleet of trucks completed delivery of coal on 24 March 2017|
- Second fleet of trucks to commence delivery by April 2017
SINGAPORE, Mar 29, 2017 - (ACN Newswire) - BlackGold Natural Resources Ltd ('BlackGold'; SGX:BHR) refers to the announcement on 24 Feb 2017 regarding receipt of the Purchase Order for the supply of coal to an Indonesian state-owned company, PT Semen Padang ("Cement Padang"). The Group is pleased to announce that its subsidiary, PT Samantaka Batubara ("PT SB"), has successfully completed its first coal delivery to Cement Padang in relation to the Purchase Order.
The Purchase Order from Cement Padang has an approximate value of US$12.6 million and, barring unforeseen circumstances, the Group expects to complete the Purchase Order periodically within the next 10 months. The first delivery of coal to Cement Padang was completed on 24 March 2017 and delivery by a second fleet of trucks is expected to commence by April 2017.
"We are very pleased with the successful completion of this delivery to our valued customer," said Mr Philip Rickard, Chief Executive Officer of the Group. "This accelerates the Group's strategy of becoming a leading Indonesian coal producer, and we look forward to strengthening our cooperation with Cement Padang."
About BlackGold (Bloomberg Ticker: BHR:SP)
The Group is an Indonesia-focused coal mining company targeting Indonesia's rapidly-growing power plant industry. Through its local subsidiaries, the Group has the rights to three coal concessions in Riau, Indonesia. Currently, through its subsidiary PT Samantaka Batubara, the Group has total JORC Code compliant coal resources of over 200 million tonnes. For more information, please visit www.blackgold-group.com.
+65 6884 4418
This press release has been prepared by BlackGold Natural Resources Limited (the "Company") and its contents have been reviewed by the Company's sponsor, SAC Advisors Private Limited (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST"). The Sponsor has not independently verified the contents of this press release.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made, or reports contained in this press release.
The contact person for the Sponsor is Mr. Sebastian Jones, Director, at 1 Robinson Road, #21-02 AIA Tower, Singapore 048542, telephone: +65 6532 3829.
SAC Capital Private Limited is the parent company of SAC Advisors Private Limited.
Mar 29, 2017 11:30 HKT/SGT
Topic: Press release summary
Sectors: Metals/Mining, Daily Finance
From the Asia Corporate News Network
Copyright © 2017 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.