Quarterly Activities Report
Perth, April 30, 2012 AEST (ABN Newswire) - Pan Asia Corporation Limited (
ASX:PZC) is pleased to provide its Quarterly Activity Report for the quarter ended 31 March 2012.
HIGHLIGHTS:
OPERATIONAL
TCM Project (114Mt JORC, 6500 - 6800 adb CV)
- 4 exploratory drill holes in the North confirm coal seams continue from the South.
- Commissioned additional drill programme in North , targeting 200Mt to 220 Mt total resource
- Feasibility Study nearing completion; expected next month and to now include consideration of potential additional resource in north.
Ranrich
Restructured arrangements with Ranrich
- Pan Asia was repaid USD 4.5m cash
- Pan Asia to receive royalty on BCKP project up to USD 15m
- Ranrich to deliver remaining ~ 170,000 tonnes of coal to Noble
Other
- CEO Alan Hopkins presented the TCM project at the Asia Mining Congress in Singapore where the Company was a sponsor of this large regional event.
- Progressed discussions on additional project opportunities and also with potential development partners for the TCM project.
Pan Asia CEO Alan Hopkins said "It has been a really good quarter for us, with the TCM project showing potential to double in size and the Ranrich restructuring allowing the Company to focus on adding value to the flagship TCM project. With the feasibility study out shortly, we are poised to really add some value this year".
To view the complete Pan Asia Corporation Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-PZC-587576.pdf
Contact
Pan Asia Corporation Limited
T: +61-8-9381-5819
F: +61-8-9388-3701
WWW: www.panasiacorp.com.au
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