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Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
 COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Block 2 and Block 6 (B26), back to the company’s Joint Venture partner, PT Mega Coal, for US$2m.
According to company’s ASX release, the sale price represents a ~17 percent profit margin to Orpheus when taking into account the acquisition and development costs of the projects paid by the company to date.
The sale proceeds will significantly strengthen Orpheus’s balance sheet as it moves towards achieving positive cash flow from existing production operations at the Kintap ADK mine. This allows the company’s operational team to more efficiently develop its long-term target area of South Kalimantan in Indonesia.
- B26 project sold at a ~17% profit to JV partner, PT Mega Coal
- Sale significantly strengthens balance sheet
- Enables focus on South Kalimantan projects and
- Strong cash position of over $3m upon receiving funds – well funded to assess acquisition opportunities
The South Kalimantan development program includes increasing production at the Kintap ADK mine, bringing proximal projects into production in the near term, and developing independent infrastructure t o support t he company’s mining operations. Additionally, Orpheus’s geological team will no w be focused on identifying a large exploration target in the South Kalimantan area for resource definition and mining development.
Under the terms of the binding Heads of Agreement, the US$2m payment will be made to Orpheus by 8 March 2013.
Executive Chairman Wayne Mitchell commented: “Orpheus is delighted to have completed the B26 sale as it enables our technical team to focus on our South Kalimantan assets which have the potential for increasing our production profile. Our mining activities at South Kalimantan are much simpler given low strip ratios, thicker seams and good access to critical infrastructure.
“ Additionally, to have sold B26 at a significant profit bolsters our existing cash reserves and provides us with the working capital to more quickly execute on our stated objective of bringing a large coal resource project into the portfolio.
“ Orpheus continues to work with its partner PT Mega Coal to assess further opportunities to deliver value from its existing assets and identify larger projects with suitable exploration targets and a clear path to development.”
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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
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