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Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
 COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Block 2 and Block 6 (B26), back to the company’s Joint Venture partner, PT Mega Coal, for US$2m.
According to company’s ASX release, the sale price represents a ~17 percent profit margin to Orpheus when taking into account the acquisition and development costs of the projects paid by the company to date.
The sale proceeds will significantly strengthen Orpheus’s balance sheet as it moves towards achieving positive cash flow from existing production operations at the Kintap ADK mine. This allows the company’s operational team to more efficiently develop its long-term target area of South Kalimantan in Indonesia.
- B26 project sold at a ~17% profit to JV partner, PT Mega Coal
- Sale significantly strengthens balance sheet
- Enables focus on South Kalimantan projects and
- Strong cash position of over $3m upon receiving funds – well funded to assess acquisition opportunities
The South Kalimantan development program includes increasing production at the Kintap ADK mine, bringing proximal projects into production in the near term, and developing independent infrastructure t o support t he company’s mining operations. Additionally, Orpheus’s geological team will no w be focused on identifying a large exploration target in the South Kalimantan area for resource definition and mining development.
Under the terms of the binding Heads of Agreement, the US$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
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