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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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Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
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- Gujarat Electricity Regulatory Commission - India
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- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
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- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
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- Singapore Mercantile Exchange
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- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
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- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
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- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
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- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
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- The University of Queensland
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- New Zealand Coal & Carbon
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- Salva Resources Pvt Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
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- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
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- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
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- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
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- Directorate Of Revenue Intelligence - India
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- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Economic Council, Georgia
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- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
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- Carbofer General Trading SA - India
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- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
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- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
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- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
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- Sojitz Corporation - Japan
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- Antam Resourcindo - Indonesia
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