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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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Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
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- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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