INDONESIA - Cokal raises $20 million in Blackrock sale

Global coal group Cokal has sold 40 million fully paid ordinary shares to UK-based global funds manager Blackrock, netting $20 million for its two year exploration program at the Bumi Barito Mineral (BBM) project. 1

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INDONESIA - Cougar to identify coal deposits for UCG

Melbourne-based company Cougar Energy has signed a Memorandum of Understanding (MoU) with an Indonesian mining company to identify and assess coal deposits in the country that may be suitable for Underground Coal Gasification (UCG). 1

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INDONESIA - ECR increases stake in Paniai Gold

Australian mineral development company ECR Minerals has acquired 50 million new shares in Paniai Gold, through the conversion of an Aus$337,937 loan and accrued interest. ECR’s stake now totals 100 million shares, or 26% of Paniai, making it the largest shareholder of the company.

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