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Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
 SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Resources Limited (ASX: MOU) (“Modun”), according to the company's press release.
SouthGobi intends to facilitate the sale of Tsagaan Tolgoi through the transfer of a wholly-owned subsidiary holding one mining license (15041A) and one exploration license (7262X) pertaining to that deposit.
Under the transaction, SouthGobi expects to receive US$30 million of total consideration, comprising US$7.5 million up-front in cash, US$12.5 million up-front in Modun shares and deferred consideration of an additional US$10.0 million also payable in Modun shares. As a result, SouthGobi will have a significant shareholding in Modun and it will have the right to nominate one director to the board of Modun subject to SouthGobi holding an equity interest in excess of 14.9%. The transaction is subject to certain terms and conditions and is expected to be completed by June 1, 2012.
SouthGobi believes this transaction is positive for three key reasons:
(i) Tsagaan Tolgoi Deposit has become non-core due to the location being approximately 400 kilometres to the east of the Company’s core coking coal resources;
(ii) Modun has agreed to accelerate the development of Tsagaan Tolgoi into a mining operation, which will create employment and further the development of Mongolia; and
(iii) SouthGobi will, through its significant shareholding in Modun, continue to have exposure to Tsagaan Tolgoi and will also gain exposure to Modun’s other attractive projects in Mongolia.
“This sale will allow SouthGobi to focus on further developing our Ovoot Khural basin holdings, including our flagship Ovoot Tolgoi Complex and the nearby Soumber Deposit, while retaining an indirect exposure to Tsagaan Tolgoi through our shareholding in Modun,” said Alexander Molyneux, President and CEO.
“We also believe that Modun is well placed to be able to bring Tsagaan Tolgoi into production in a timely manner.” Macquarie Capital (Hong Kong) Limited acted as SouthGobi’s financial adviser on the transaction.
About SouthGobi Resources
SouthGobi Resources is focused on exploration and development of its Permian-age metallurgical and thermal coal deposits in Mongolia’s South Gobi Region. The company’s flagship coal mine, Ovoot Tolgoi, is producing and selling coal to customers in China. The company plans to supply a wide range of coal products to markets in Asia.
About Modun Resources
ASX-listed Modun Resources is developing the 100%-owned Nuurst Project in central Mongolia. Nuurst is a thermal coal project, which encompasses a 34.5 square kilometre licence area. In late 2011, Modun Resources announced a maiden 489 million tonnes JORC compliant resource at Nuurst (417 million tonnes of Indicated resources and 72 million tonnes of Inferred resources). The Nuurst Project is located 120 kilometres south of Mongolia’s capital Ulaanbaatar and six kilometres from existing rail infrastructures.
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Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
Thursday, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
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- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Australian Coal Association
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
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