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Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
 Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore Coal.
GEAR is acquiring a 19.9 per cent stake in coking coal-focused Stanmore for A$47.6 million in cash, with plans to eventually transfer that interest to a 51 per cent joint venture that is offering up to A$201 million for all the remaining shares of Stanmore.
The offer by joint venture Golden Investments (Australia), which GEAR has set up with Ascend Global Investment Fund, is pegged at A$0.95 per Stanmore share. After the offer closes, Golden Investments will acquire GEAR's 19.9 per cent Stanmore stake for a number of Golden Investments shares equal to the cash amount that GEAR paid for the Stanmore shares. GEAR is acquiring the Stanmore shares from Greatgroup Investments, Stanmore's largest shareholder.
The volume weighted average price (VWAP) of Stanmore Coal's shares for all trades done on 16 Nov - the last full day of trading before the announcement - was approximately A$0.8597 per share.
Explaining the acquisition, coal producer GEAR said: "By acquiring an interest in Stanmore Coal, a primarily coking coal focused company, GEAR hopes to enhance its overall asset portfolio in the current commodity price environment by diversifying and expanding its coal product suite and geographical presence."
GEAR and Ascend Global have agreed to fund Golden Investments' bid by subscribing for additional Golden Investments shares. GEAR has agreed to subscribe for shares totalling up to A$79.25 million, while Ascend Global will subscribe for up to A$121.88 million of shares only if Golden Investments is able to obtain control of at least 51 per cent of Stanmore.
Based on Stanmore Coal's FY18 results, the net asset value (NAV) and net tangible assets (NTA) of the sale shares translating to the 19.9 per cent stake are about A$14.56 million and approximately A$13.81 million respectively, as at June 30. Meanwhile, the NAV and the NTA of the shares under the offer (attributable to GEAR's 31.9 per cent stake in Golden Investments before the transfer of the sale shares) are approximately A$23.31 million and A$22.11 million respectively as at June 30.
Based on Stamford Coal's financial year 2018 results, the net profit before income tax, minority interests and extraordinary items attributable to the sale shares is A$2 million; while the same profit for the shares under the offer is approximately A$3.20 million.
Golden Investments' shareholders will fund their respective subscriptions in Golden Investments through a combination of existing cash reserves, GEAR's finance facility of up to A$150 million and via Ascend Global's undrawn capital commitments of US$100 million from investors.
Source: The Straits Times
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Posco Energy - South Korea
- PTC India Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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