Great news for Geo Energy investors as the company has just received the approved Rencana Kerja Anggaran Biaya (“RKAB”) (Work Plan and Budget) for 2022 for its coal mines. This is unlike thousands of other mine owners whose permits have been revoked.
Other piece of great news relates to the Government's temporary ban on all coal exports: "The Company has been informed that the Indonesian Government is currently reviewing the export ban and will make an announcement on it shortly."
"I am not expecting a target price of says 80c by August, but honestly I am looking for 1.50 to 2.00 in the coming years, and I am expecting 15c to 20c dividends for each year to come."
EU coal prices are more expensive than at any time in recorded history too (25y) as Europe scrambles to replace 58 million tonnes pa of thermal coal it mustn’t source from Russia
while coal production became rather unfashionable for the past decade (green shift).
GOLDEN ENERGY & RESOURCES:
"The Company wishes to announce that it is in discussions with certain of its shareholders, including Mr. Indra Widjaja, regarding a possible acquisition of the Company"