Geo Energy hits coal reserves threshold; purchase of outstanding notes not needed
Singapore
GEO Energy Resources has reached the minimum threshold for its coal reserves, and will not have to make a mandatory offer to purchase US$59.2 million worth of outstanding 8 per cent senior notes.
In a bourse filing on Wednesday evening, the mainboard-listed company said that it has 86.4 million tonnes of coal reserves in its two Indonesian mining concessions, Sungai Danau Jaya (SDJ) and Tanah Bumbu Resources (TBR), as at end-October.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Worst days for China’s stock market may be over
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%
It is time to put idle cash back into the market
Gauging sentiment is crucial, and there are hard and easy ways to do it
iPhone maker Hon Hai’s April sales rise 19% in positive signal