Killara Resources has executed agreements to acquire an interest in two coal concessions in the West Papua Province of the Republic of Indonesia.

The two parties have executed Letter of Offer Agreements for the coal concessions with in principle agreements for Killara to acquire a 65% equity interest in the concessions.

Vendor payments would be linked to project-specific milestones.

The full commercial terms of the acquisition will be formally documented in a Memorandum of Understanding

Killara will have a six month due diligence period from the execution of the MOU.

The company has an existing project in Indonesia, the Belu Manganese Project located in West Timor. It also owns the Ora Banda Gold Project in Western Australia.

(Sourced from www.proactiveinvestors.com.au)