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palace resources ltd (D9J) Details

Palace Resources Limited operates in the mineral exploration industry in Australia and Indonesia. The company explores for coal, copper, gold, and iron ore deposits. It holds interests in the Paser project that covers a license area of approximately 43 hectares located to the southwest of Balikpapan. The company was formerly known as Padang Resources Limited and changed its name to Palace Resources Limited in December 2012. Palace Resources Limited is based in West Perth, Australia.

palace resources ltd (D9J) Top Compensated Officers

Chief Operating Officer
Total Annual Compensation: A$160.0K
Company Secretary
Total Annual Compensation: A$17.9K
Compensation as of Fiscal Year 2012.

palace resources ltd (D9J) Key Developments

Palace Resources Limited, Annual General Meeting, Nov 27, 2013

Palace Resources Limited, Annual General Meeting, Nov 27, 2013.

Palace Resources Limited Reports Consolidated and Parent Earnings Results for the Year Ended June 30, 2013

Palace Resources Limited reported consolidated and parent earnings results for the year ended June 30, 2013. For the year, on consolidated basis, the company reported revenue from ordinary activities of AUD 19,477 against AUD 75,374 a year ago. Loss from continuing operations before income tax expense was AUD 3,371,547 against AUD 2,071,629 a year ago. Net loss was AUD 3,371,547 against AUD 2,071,629 a year ago. Total comprehensive loss attributable to members of the parent entity was AUD 2,827,849 against AUD 2,082,867 a year ago. Basic and diluted loss per share was 0.69 cents against 0.63 cents a year ago. Net cash used in operating activities was AUD 1,222,417 against AUD 1,614,981 a year ago. For the year, on parent basis, the company reported loss of AUD 1,563,215 against AUD 2,050,629 a year ago.

Palace Resources Limited Enters Memorandum of Understanding with RBU to Collaborate on Activated Carbon Plant

Palace Resources Limited has entered a memorandum of understanding with its Indonesian partner, RBU, to collaborate on the development of a commercial facility for the beneficiation of coal through to an activated carbon product. It is proposed that Palace will earn an initial 30% position in the final joint venture company. Carbon-raising is a coal upgrading process performed by driving off the volatiles in the coal and reducing moisture content, yielding an end-product with higher fixed carbon content and minimal ash. The intention is to conduct trials to determine if the sourced coal, once beneficiated through this process, can be used in the steel industry or treated again to create an activated carbon product.

 

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