"KAL is entering into a new pivotal phase in the Company's life cycle which requires the right team to ensure excellent execution of the Company's strategic plans. The Company is now firmly focused on exploring and developing its thermal coal resources in
"While this has entailed tough staffing decisions, we believe these changes will maximize shareholder value while putting the company on a solid platform for growth. We have consolidated our geographic footprint, restructured management, and hired key local staff, which allows KAL to have a fully independent operation geared towards execution," concluded Mr. Bloking. As part of the comprehensive restructuring, KAL has also terminated contracts with service providers including PT Montraco Internusa, Mining House Ltd and associated companies.
About KAL Energy, Inc.
KAL Energy, Inc, through its wholly owned subsidiary of Thatcher Mining Pte. Ltd., has economic rights to two coal concessions near the Mahakam River in
For further information regarding KAL Energy, Inc., please visit the website at http://www.kalenergyinc.com.
The Jakarta office contact details are: World Trade Center 14th Floor Jl. Jenderal Sudirman Kav. 29-31 Jakarta 12920, Indonesia T: +62 21 521-1110 F: +62 21 521-1112 -------------- Contact: William Bloking Executive Chairman and President KAL Energy, Inc. Email: w.bloking@kalenergyinc.com Lucia Domville - Investor Relations Grayling Global T: +1 (646) 284-9416 E: ldomville@hfgcg.com Ivette Almeida - Media Relations Grayling Global T: +1 (646) 284-9455 E: ialmeida@hfgcg.com
SOURCE KAL Energy, Inc.