The company drilled the project in 2018 and is waiting on laboratory assays.
Pacific American Coal Ltd
Pacific American Coal Ltd (ASX:PAK) is listed on the Australian Securities Exchange.
| EPIC: | PAK |
| Market: | ASX:PAK |
| 52-week High/Low: | A$0.074 / A$0.033 |
| Sector: | Mining |
| Market Cap: | A$6.12M |
| Website: | www.pamcoal.com |
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Big Picture – A Deep Dive Examination of Pacific American Coal Ltd
Pacific American Coal Ltd Timeline
The company’s shares were last trading about 29% higher intra-day, at 4.5 cents.
The company drilled the project in 2018 and is waiting on laboratory assays.
Lab assays are now pending and will be used for an updated JORC resource.
Chief executive officer Mark Sykes will present to investors in Sydney on Monday, November 19.
The results are expected this quarter as the company works towards updating its resource estimate by early next year.
PAK aims to release an updated resource estimate for its Elko Coking Coal Project, Canada in early 2019.
There are 11 reverse circulation holes planned with the aim of improving coal quality information and identifying general structural trends.
The company has secured what was one of the last unpegged coal areas in the East Kootenay basin.
Positive results from the drilling program will enable the Elko project to accelerate towards production status.
Ground conditions at Elko are improving allowing site visits.
The company is focused on adding to the 257 million tonne resource at its Canadian property.
The company is fully funded to undertake its planned 8,500-metre drill program.
The company is fully funded to complete its planned 2018 exploration program.
Elko is a highly attractive project with 257 million tonnes of resource already identified.
Pre-drilling environmental studies have been completed.
Sykes' board appointment will see him play a vital role in developing the Elko project.
Pacific American has now completed a 100% recovery from the GCI divestment.
The company is well funded with $4 million in cash reserves.
Pacific American Coal (ASX:PAK) has appointed Mark Lochtenberg as managing director to push forward the development of its flagship hard coking coal project, Elko, in British Columbia, Canada.
Pacific American Coal (ASX:PAK) has successfully closed its entitlement offer with 81% acceptances, raising $1.45 million at $0.10 per share.
