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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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Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
Monday, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
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Showing 1611 to 1615 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
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