Victory West diversifies into coal

摘要

METALS-focused resources exploration company Victory West Metals has made progress in its bid to find and prove world-class metals projects in South East Asia, by signing an agreement to acquire South East Asia Energy Resources (SEAE), a special purpose Singaporean company which owns the rights to 85% of the BEK coal project in East Kalimantan. This is a major step in the expansion of Victory's portfolio by joining with the SEAE management team to target significant JORC certifiable resources. The acquisition positions Victory Metals to diversify into quality thermal and coking coal assets and become a significant player in the rapidly growing Indonesian coal sector.