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Pacific American Coal to update resource at Elko Coking Coal Project in early 2019

Pacific American Coal Ltd (ASX:PAK) IR general manager Simon Klimt tells Proactive Investors all the latest on the wholly-owned Elko Coking Coal Project in British Columbia, Canada.

Lab assays for a nine hole drill program are pending, but early indications are positive, with the company signalling a JORC resource update in early 2019.

Speaking generally about the markets for coking coal, also known as metallurgical coal, Klimt observes: "Coking coal is very different to thermal coal, it is really more tied to industrial and steel demand around the world. As we also like to point out - and in fact the government pointed out in their recent resource quarterly - there's over 200 tonnes of metallurgical coal going into every wind turbine that's built, because of the amount of steel that goes into them."

Quick facts: Pacific American Holdings Ltd

Price: 0.012 AUD

Market: ASX
Market Cap: $3.33 m

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