Pan Asia Corporation announced that it has entered into several key MOA's.

The first MOA is with China's leading coal mine design and engineering Institute BHEC CCTEG in Beijing. They have reviewed the TCM project geotech data and believe that with their very extensive experience operating in ground conditions similar to those at TCM, recoveries can be significantly increased from the current base case study scenario.

The second MOA is with very experienced underground coal mining contractor Huamei, who has recently undertaken inclined drift development work at an underground coal mining project ~50 kilometres west of the TCM project in the same Tanjung coal formation in South Kalimantan.

The third MOA is with ZIEC who have undertaken development and underground contract mining operations at an underground coal mine in Bengkulu Sumatra since 2006.

Pan Asia Corporation CEO MrAlan Hopkins said "With the recent peer review of our base case study, it became strikingly clear that significant value can be added to the TCM project by upgrading the mine plan to substantially uplift recoveries. This is an additional but huge step forward for this project and will provide a platform to gain full value for all our shareholders. The early engagement with key underground mining contractors already operating locally provides additional practical support in the development planning process."

Pan Asia Corporation’s flagship project TCM is a high CV thermal coal project in South Kalimantan.

Source - Pan Asia Corporation