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Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
 - B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to receive net $US8 per tonne on all coal sales, expected to be US$240,000 per month
- Orpheus not responsible for any capital, operating or marketing expenses
COALspot.com - Orpheus Energy (ASX:OEG) is pleased to advise that its Indonesian mining contractor PT Debbia Mining has successfully completed the removal of overburden and exposed coal at its 51% owned B2 project in East Kalimantan, Indonesia, according to a note released through Six Degrees Investor Relations today.
Coal production will now commence from the new pit, located in the central section of the tenement area, ramping up to 30,000tpm. Coal will be transported by truck to the nearby barge loading facility at Tampang Village, ~ 27 km away from the mine site, comany further said in its note.
Orpheus is not responsible for any capital, operating or coal marketing expenses under the life of mine arrangement with PT Debbia Mining. As previously announced on 2 July 2012, Orpheus will receive a royalty of net US$ 8 per tonne of coal sold, and at the expected production rate this will earn Orpheus US$ 240,000 per month.
The current JORC coal resource at the B2 project of 0.95 Mt indicated and 0.18Mt inferred will provide an initial mine life of approximately three years. The current mine plan allows for PT Debbia Mining to move to the adjacent B6 project (currently contains an exploration target of 1.5 Mt to 2.5 Mt and calorific value of 5,950 to 6,850 kcal/kg*) as B2 coal reserves are depleted.
Orpheus will also commence a JORC drilling program at its nearby B34 project (current exploration target of 5 - 10Mt and calorific value of 7,200 to 8,100 kcal/kg*), in October 2012, approximately 60 km west, which will delineate additional resources to continue mining in this area.
Executive Chairman, Wayne Mitchell said, “ We are very happy with our mining contractor’ s positive progress at B2. Once we reach our 30,000tpm target production rate, the company will be in a cash-flow positive situation, which gives us the flexibility to focus on rapidly developing our other near-term production projects. We look forward to reporting to our shareholders coal sales revenue milestones over the next few months.”
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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 ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
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- Deloitte Consulting - India
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- Parliament of New Zealand
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- Electricity Authority, New Zealand
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- New Zealand Coal & Carbon
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- PNOC Exploration Corporation - Philippines
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- Petron Corporation, Philippines
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- Global Coal Blending Company Limited - Australia
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- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
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- Renaissance Capital - South Africa
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- Vedanta Resources Plc - India
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- Mintek Dendrill Indonesia
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- The University of Queensland
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
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- Medco Energi Mining Internasional
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- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
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- Makarim & Taira - Indonesia
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- Marubeni Corporation - India
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- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
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- Rashtriya Ispat Nigam Limited - India
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- Indian Oil Corporation Limited
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- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
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- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Thai Mozambique Logistica
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- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
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- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
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- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
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- San Jose City I Power Corp, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
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- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
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- Australian Coal Association
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