Pan Asia Corporation Limited - Quarterly Activities Report

17:25 AEST Oct 31, 2012 ABN Newswire (C) 2004-2012 Asia Business News PL. All Rights Reserved.


Perth, Australia (ABN Newswire) - Pan Asia Corporation Limited (ASX:PZC) announce the Quarterly Activities Report for September 2012 with the following highlights.


Flagship High CV Thermal Coal Project (TCM)

- Drilling completed in TCM north - all holes hit coal
- Project JORC update due imminently
- Key MOA's executed with leading China Mine Design and Mining Contractors.
- Peer review targets much higher recoveries and lower CAPEX in optimized study
- Dry Season Baseline Environmental Sampling Completed

CEO Alan Hopkins said 'The powerful combination of more tonnes, higher recoveries and lower capex promises to deliver a substantial rerating for this project, even with current lower coal prices.'

View the full quarterly report here:
http://media.abnnewswire.net/media/en/docs/ASX-PZC-611803.pdf


About Pan Asia Corporation Limited:

Pan Asia Corporation Limited (ASX:PZC) is a rapidly growing resource company listed on the Australian Securities Exchange (ASX Code: PZC) with offices in Jakarta, Perth and Sydney.

The Company aims to be a major supplier of key resources into the expanding Asian markets and has a Flagship high CV thermal coal project with an initial significant JORC resource in South Kalimantan (TCM Project). The TCM Project is nearing completion of Feasibility Study (scheduled for early next quarter).

Pan Asia brings together an experienced Board and management team with a proven track record in the identification, funding and development of resources projects around the world.



Contact:

Pan Asia Corporation Limited
T: +61-8-9381-5819
F: +61-8-9388-3701
WWW: www.panasiacorp.com.au