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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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Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
Friday, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
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- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
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