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.

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.

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