Sign up Australia
Proactive Investors - Run By Investors For Investors

Pacific American Coal share spike attracts ASX speeding ticket

The company is fully funded to complete its planned 2018 exploration program.
share price rise
Elko Coking Coal Project in Canada is progressing

Pacific American Coal Ltd’s (ASX:PAK) shares have been on a tear, rising to a high of 6 cents today from a close of 3.9 cents on Thursday, prompting the ASX to issue a speeding ticket.

Responding to the ASX price and volume query, the company said that there was no information that had not been announced to the market.

Pacific American revealed on 28 March 2018 the cash sale of its South Hazell Exploration Project for C$1 million.

The company held total cash of $4.7 million as at 14 April 2018.

Significantly, Pacific American is fully funded to undertake and complete its planned 2018 exploration program at its 100% owned Elko Coking Coal Project in Canada.

READ: Pacific American Coal gets cash from asset sale as Elko coking coal project advances

Elko is a highly attractive project, with 257 million tonnes of JORC 2012 resource already identified.

View full PAK profile View Profile

Pacific American Coal Ltd Timeline

Related Articles

1516714470_gold_bars,_sized.png
January 24 2018
Compelling economics at the Hellyer project are underpinning NQ's plans for 2018
farming tractor at work in a crop
April 11 2018
The front end engineering design (FEED) confirmed a post-tax NPV of US$902 million.
Pantoro processing plant
April 04 2018
The company's AISC for the December quarter 2017 was $990 per ounce.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use