Golden Energy and Resources has been queried by the Singapore Exchange following a near 30% drop in its share price thus far today.
As at 11.59am, GEAR's share price was down by 27.22% or 24.5 cents to trade at 65.5 cents.
The Indonesia-based coal miner, had on Oct 10 announced that it is “in discussions” with certain shareholders including Indra Widjaha “regarding a possible acquisition of the company.”
No further updates have been provided since then.
Geo Energy Resources, another Indonesia-based coal miner, dropped as much as 3.5 cents, or 8.43% today.
