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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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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
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- Samtan Co., Ltd - South Korea
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- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
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- Price Waterhouse Coopers - Russia
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- Planning Commission, India
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- Petron Corporation, Philippines
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- Goldman Sachs - Singapore
- VISA Power Limited - India
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- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
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- Indian Energy Exchange, India
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- Sakthi Sugars Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
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- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
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- Cement Manufacturers Association - India
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- LBH Netherlands Bv - Netherlands
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- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
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- Renaissance Capital - South Africa
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- Parliament of New Zealand
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- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
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- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
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