trending Market Intelligence /marketintelligence/en/news-insights/trending/Qaa1qRjyJt9dC82P9Gbh3g2 content esgSubNav
In This List

Adavale to settle debt with creditors via Tapan coal project sale

Blog

Battery Metals Trends

Blog

Insight Weekly: SPAC momentum builds on; higher rates fear; copper prices rebound

Blog

Q&A: U.S. Battery Storage and Global Battery Metals Trends Webinar

Blog

Greenhouse gas and gold mines - Emissions intensities unaffected by lockdowns


Adavale to settle debt with creditors via Tapan coal project sale

Adavale Resources Ltd. said Oct. 12 that it signed a memorandum of understanding to sell subsidiary PT Prima Perkasa Abadi, which holds the Tapan coal project in Indonesia, to creditor PT Harner and its owner Haryono Eddyarto, valued at about A$600,000.

Under the terms, the company will receive US$18,915.19 in cash plus the extinguishment of a A$495,954 loan and A$198,869 of loan interest owed to PT Harner and Eddyarto, respectively.

The sale is pending shareholder and regulatory approvals.