Geo Energy hits coal reserves threshold; purchase of outstanding notes not needed
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Sharanya Pillai
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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.
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