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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$100 million from investors.
Source: The Straits Times
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Tuesday, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
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