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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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Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
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