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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, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
Wednesday, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
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- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
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