Following the go-ahead by the authorities to raise its production quota, Geo Energy is targeting monthly output of one million tonnes between Oct and Dec.
With record coal prices underscoring its growing bottomline, Indonesia-based producer Geo Energy Resources has fully redeemed its outstanding bond, saving itself financing cost of some US$4.8 million a year.
Upon full redemption of the bond, the company, as at Oct 10, sits on cash balance of US$62.4 million.
