http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Sat, 26 May 2018 10:15:54 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - TerraCom upgrades coal reserve and boosts life of Blair Athol mine ]]> http://www.proactiveinvestors.com.au/companies/news/191544/terracom-upgrades-coal-reserve-and-boosts-life-of-blair-athol-mine-191544.html TerraCom Ltd (ASX:TER) has extended the life of the Blair Athol mine in Queensland by a year after upgrading thermal coal reserves.

Mine life now totals nine years with the potential to add a further two to three years through further reserve increases.

TerraCom and independent experts Deswik Mining Consultants have upgraded total Blair Athol JORC-compliant reserves by 2.4 million tonnes to 18 million tonnes.

One year added to mine life

Based on the production plan of 2 million tonnes each year, the increase adds a year to the mine life.

TerraCom is further developing Blair Athol’s indicated and measured resource footprint and plans to convert the economic areas into further reserves.

The company is also constructing a train load-out facility at the mine, which has potential to deliver an additional $20 per tonne improvement in margin.

A rail line runs across the site and connects to the main Goonyella Rail Line to Dalrymple Bay Coal Terminal.

Train load-out facility work

Construction work is well advanced including mobilisation of the Aurizon Network for the start of rail recommissioning works this week.

It is expected that the facility will be commissioned by the end of March.

The facility will allow the trucks which are transporting coal to another rail load-out facility to be taken off the road.

TerraCom completed the acquisition of the Blair Athol mine in May 2017, including mining lease, related licences, land, site infrastructure, active contracts and all mining plant and equipment, including a dragline.

The company has completed more than 50 hectares of site rehabilitation at the historical mine while bringing it back into production.

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Tue, 13 Feb 2018 15:11:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191544/terracom-upgrades-coal-reserve-and-boosts-life-of-blair-athol-mine-191544.html
<![CDATA[News - TerraCom to update on acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/177769/terracom-to-update-on-acquisition-177769.html TerraCom (ASX:TER) has been granted a trading halt by the ASX, pending an update on the Blair Athol acquisition.

The halt will remain in place until the opening of trade on Wednesday 17th May 2017, or earlier if an announcement will be made to the market.

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Mon, 15 May 2017 17:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/177769/terracom-to-update-on-acquisition-177769.html
<![CDATA[News - TerraCom has an acquisition update pending ]]> http://www.proactiveinvestors.com.au/companies/news/172454/terracom-has-an-acquisition-update-pending-172454.html The halt will remain in place until the opening of trade on Friday 3rd February 2017, or earlier if an announcement is made to the market.

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Wed, 01 Feb 2017 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172454/terracom-has-an-acquisition-update-pending-172454.html
<![CDATA[News - TerraCom has been granted an ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/169994/terracom-has-been-granted-an-asx-trading-halt-169994.html TerraCom requested the halt following some roadshows with Australian and Asian investors.

The halt will remain in place until the opening of trade on Thursday 8th December 2016, or earlier if an announcement is made to the market.

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Tue, 06 Dec 2016 10:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/169994/terracom-has-been-granted-an-asx-trading-halt-169994.html
<![CDATA[News - TerraCom Ltd resource upgrade extends coal mine life 2 years ]]> http://www.proactiveinvestors.com.au/companies/news/168583/terracom-ltd-resource-upgrade-extends-coal-mine-life-2-years-168583.html TerraCom Ltd (ASX:TER) has improved the coal resources at the Blair Athol Project near Clermont in central Queensland.

Total JORC Reserves increased to 13.5 million tonnes coal and total JORC Resources increased to 44 million tonnes coal.

The reserve upgrade enables the mine plan to be extended two years to seven years at 2 million tonnes per annum.

Re-opening the Blair Athol mine will mean 300 jobs for the local Clermont community.

TerraCom has reached an agreement to acquire the Blair Athol Coal Mine subject to certain conditions precedent.

The acquisition includes the mining lease, related licenses, land, active contracts and all mining plant and equipment.

Operations are planned to recommence late in the December quarter 2016.

This acquisition, when completed, represents a significant milestone for TerraCom.

TerraCom has executed a full service mining contract for five years with Link Mining Services Pty Ltd.

A key element of the contract is the provision, through Link Mining, of A$11.6 million.

TerraCom has also secured US$12 million in a separate funding agreement to support the commissioning of the mine.

Shares are trading up 450% year to date.

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Mon, 07 Nov 2016 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168583/terracom-ltd-resource-upgrade-extends-coal-mine-life-2-years-168583.html
<![CDATA[News - TerraCom Ltd tops ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/146256/terracom-ltd-tops-asx-gainers-intra-day-69602.html Monday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume TerraCom Ltd TER $0.025 316.67% 25,318,898 Black Ridge Mining NL BRD $0.002 100% 1,658,008 Metals Australia Ltd MLS $0.002 100% 4,440,000 BBX Minerals Ltd BBX $0.024 60% 1,014,603 Spitfire Materials Ltd SPI $0.080 60% 473,500 A1 Consolidated Gold Ltd AYC $0.032 52.38% 14,707,383 White Rock Minerals Ltd WRM $0.024 33.33% 319,084 Key Petroleum Ltd KEY $0.004 33.33% 1,125,000 Pancontinental Oil & Gas NL PCL $0.004 33.33% 3,278,478 Botswana Metals Ltd BML $0.004 33.33% 1,000,000

 

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Mon, 04 Jul 2016 14:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146256/terracom-ltd-tops-asx-gainers-intra-day-69602.html
<![CDATA[News - TerraCom Ltd acquires Blair Athol Coal Mine in Queensland for $1 ]]> http://www.proactiveinvestors.com.au/companies/news/146255/terracom-ltd-acquires-blair-athol-coal-mine-in-queensland-for-1-69592.html TerraCom Ltd (ASX:TER) will acquire the Blair Athol Coal Mine, one of Queensland’s oldest coking coal mines, from the Blair Athol Coal Joint Venture for the heady price of $1.

TerraCom will also receive $80 million from the vendors to meet Blair Athol Coal Mine’s rehabilitation liability as determined by Queensland’s Department of Environment Heritage Protection in November 2015.

The mine ceased production under its current management in late 2012 and has been on care and maintenance since then.

TerraCom plans to bring the mine back into production at a rate of 2 million tonnes per annum of coal with a target of recommencing operations in the 4th quarter of 2016.

The acquisition includes the mining lease, licences, land, contracts and all mining plant and equipment, including a dragline to deliver the forecast production schedule.

Last month, the company issued 5-year 12.5% per annum interest-only bonds with a face value of US$129 million, and an additional secured note for US$12 million, as part of a debt restructuring plan.

TerraCom’s previous focus is been Mongolia, where it has fully commissioned the Baruun Noyon Uul coking coal mine, to supply to steel-producing customers.

Additionally, the company is also developing two projects in Queensland - the large thermal coal Northern Galilee Project and the high energy prime thermal coal Springsure Project.

The new acquisition, combined with TerraCom’s recent debt restructuring and it’s hard coking coal mine in Mongolia, is expected to have a materially positive impact on net assets.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 04 Jul 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146255/terracom-ltd-acquires-blair-athol-coal-mine-in-queensland-for-1-69592.html
<![CDATA[News - TerraCom Ltd to reveal acquisition ]]> http://www.proactiveinvestors.com.au/companies/news/146254/terracom-ltd-to-reveal-acquisition-69528.html TerraCom Ltd (ASX:TER) is preparing to outline details of an acquisition, with the ASX granting the company a trading halt to prepare.

TerraCom also noted that the company is in the final stages of negotiations on a strategic opportunity in Queensland to acquire a mature mining operation which is currently on care and maintenance.

The halt will remain in place until the opening of trade on Monday 4th July 2016, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 30 Jun 2016 10:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146254/terracom-ltd-to-reveal-acquisition-69528.html
<![CDATA[News - TerraCom Limited in ASX trading halt ]]> http://www.proactiveinvestors.com.au/companies/news/146253/terracom-limited-in-asx-trading-halt-66788.html TerraCom Limited (ASX:TER) has been granted an ASX trading halt.

The company requested the halt pending an update on the previously announced restructuring of the company’s balance sheet.

TerraCom added:

- In principle agreement reached for a new Secured loan of USD$5 million from its existing note holders (represented by OCP Asia), which will replace the previously envisaged AUD$7 million equity placement by SPG Investment Holdings Ltd, significantly reducing Shareholder Dilution;

- In principle agreement reached for a new Facility with its existing note holders to invest in a new 5-year interest only bond that will replace their existing notes; and

- Received conversion notices from holders of USD$5 million of Convertible Notes and issued corresponding shares on 29 January 2016, further reducing the Companies debt by USD$5 million.

The halt will remain in place until the opening of trade on Wednesday 3rd February 2016, or earlier if an announcement is made to the market.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 01 Feb 2016 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146253/terracom-limited-in-asx-trading-halt-66788.html
<![CDATA[News - TerraCom to tighten finances as Mongolian coal plans unfold ]]> http://www.proactiveinvestors.com.au/companies/news/146252/terracom-to-tighten-finances-as-mongolian-coal-plans-unfold-66412.html TerraCom (ASX:TER) has advanced two debt restructuring options during a balance sheet recalibration process expected to secure funding as the company’s Baruun Noyon Uul (BNU) project aims to become one of the largest and highest quality coking coal producers in Mongolia.

The company formerly known as Guildford Coal has recently confirmed the ongoing support of its major financial backers, including the execution of a term sheet with OCP and continued discussions with Noble Group regarding a US$115 million five year interest-only bond.

This is expected to give the TerraCom significantly greater flexibility to manage its cash flows going forward and enable implementation of the growth strategy.

Plans are also developing for a strategic placement of A$7 million in the company by SPG Holdings.

Meanwhile, TerraCom is considering the issue of shares to SPG associate Morning Crest Capital Management pursuant to the conversion of convertible notes first issued by the company in December 2013.

Morning Crest Capital has entered into an agreement to acquire 50% of the convertible notes and intends to convert those notes into equity in TerraCom.

These financing plans are expected to support the company’s Mongolian subsidiary Terra Energy, which was granted a new exploration licence last month.

Terra Energy now holds 15 mineral licences in Mongolia across three project areas in the South Gobi, Middle Gobi and Uvs provinces.

The new licence is located 81.5 kilometres east of BNU, providing access to the mine’s infrastructure.

Volume increases at BNU in recent weeks have placed stress on third party road transport capabilities and actions are being implemented to optimise to ‘pit to end user’ supply chain.

Last month, TerraCom also decided to modify its board composition to ensure clear separation and focus on the differing functions and requirements in the areas of effective corporate governance delineated from strategic development and associated implementation.

While Michael Avery remains on the TerraCom board as an executive director with a principal focus on strategy, corporate governance, marketing and stakeholder relations, David Stone will no longer be a director.

Stone will instead remain in a senior executive role reporting to the board and focused on the strategic development and implementation of TerraCom business strategy.


Proactive Investors is a global leader in financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Mon, 04 Jan 2016 12:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146252/terracom-to-tighten-finances-as-mongolian-coal-plans-unfold-66412.html
<![CDATA[News - Guildford Coal, Lakes Oil among Tuesday’s most traded ]]> http://www.proactiveinvestors.com.au/companies/news/146251/guildford-coal-lakes-oil-among-tuesdays-most-traded-63575.html Tuesday’s leading volume stocks on the ASX.

NameCodeLastChangeVolume LWP Technologies ASX:LWP $0.011 -15.4% 143,068,532 Lakes Oil ASX:LKO $0.002 0% 58,666,120 Potash Minerals ASX:POK $0.062 37.8% 39,987,275 Tempo Australia ASX:TPP $0.047 6.8% 30,389,922 Guildford Coal ASX:GUF $0.04 14.3% 30,218,477 South32 Limited ASX:S32 $1.825 -0.5% 29,885,348 Fortescue Metals Group ASX:FMG $1.74 -0.3% 20,966,432 VTX Holdings ASX:VTX $0.056 -8.2% 19,791,799 Black Range Minerals ASX:BLR $0.002 0% 18,346,844 Soilsub Technologies ASX:SOI $0.002 0% 17,500,000

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 22 Jul 2015 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146251/guildford-coal-lakes-oil-among-tuesdays-most-traded-63575.html
<![CDATA[News - Guildford Coal receives unsolicited offer for Australian assets ]]> http://www.proactiveinvestors.com.au/companies/news/146250/guildford-coal-receives-unsolicited-offer-for-australian-assets-56349.html Guildford Coal (ASX:GUF) has received an unsolicited offer for its Australian coal assets from Singapore for US$22.5 million or A$24 million.

The company's total market cap is circa $41.1 million.

Apart from its Australian assets, Guildford also operates the BNU North Coal mine and was formally commissioned for operations and sales by the Mongolian Government.

The offer was from a Singapore main board listed company. The Board of Guildford said it is considering and evaluating this offer.

Interestingly, the purchase price of $22.5 million would be payablein an unusual manner.

The offeror has proposed to pay by way of a non interest bearing convertible promissory note which would mature six months after issue and be payable in cash.

Or it or may be converted, at the purchaser’s option, into ordinary shares in the purchaser company to be issued to Guildford.

The offer is open for acceptance by Guildford until 5pm (Singapore time) on 23 July 2014.

It would be subject to obtaining necessary shareholder and SGX approvals, negotiation of binding documentation and other customary conditions.
 
This offer does not currently have any impact on the timetable for the non‐renounceable entitlement offer announced on 10 July 2014.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 18 Jul 2014 09:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146250/guildford-coal-receives-unsolicited-offer-for-australian-assets-56349.html
<![CDATA[News - Guildford Coal completes acquisition of Bowen Basin coal project ]]> http://www.proactiveinvestors.com.au/companies/news/146249/guildford-coal-completes-acquisition-of-bowen-basin-coal-project-54110.html Guildford Coal (ASX: GUF) has completed the acquisition of the Springsure coal project in Queensland’s Bowen Basin following the issue of the remaining 17,262,688 consideration shares.

Springsure occurs on strike to Minerva Coal’s Minerva South and Minerva No.1 mines which are located approximately 3 kilometres to the north.

The Minerva Open-Cut mine is a multi-seam mine designed with a production capacity of 2.8 million tonnes per annum high quality thermal coal resources within the Reid Dome Beds coal measures.

Guildford had last year defined a maiden coal JORC Indicated Resource for Springsure of 43 million tonnes.

The company had on 30 December reduced the payment due to the vendor to $8.8 million from $11 million. In addition, it negotiated to make the payment with 106,810,121 shares valued at $0.08239 each rather than cash.

It had on 21 February issued 89,547,433 shares in accordance with its 15% placement capacity.

Springsure EPC1674 is situated in the Central-Western Bowen Basin and covers an area of 34.5 square kilometres.

It is located about 60 kilometres south of the town of Emerald and about 420 kilometres from the Port of Gladstone.

Both the Springsure to Emerald rail link and the Gregory Highway traverse the south-eastern edge of the tenement, linking it directly to the Port of Gladstone.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 04 Apr 2014 09:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146249/guildford-coal-completes-acquisition-of-bowen-basin-coal-project-54110.html
<![CDATA[News - Guildford Coal edges closer to coal sales from Mongolia mine ]]> http://www.proactiveinvestors.com.au/companies/news/146248/guildford-coal-edges-closer-to-coal-sales-from-mongolia-mine-52621.html Guildford Coal (ASX: GUF) is close to starting coal sales from its Baruun Noyon Uul mine in Mongolia after it was successfully and formally commissioned for operations and sales by the government.

This enables the company to extract coal in readiness for first sale and it is now waiting on final permitting of the coal transport company that will deliver the coal to the coal distribution hub at Ceke, on the China border.

Guildford had in December completed a key 98 kilometre current haul road connecting the Baruun Noyon Uul mine with the coal distribution hub at Ceke, at the China border.

The project consists of five tenements located in the South Gobi Province (Umnigovi Aimag) of the country, which are located around 1,000 kilometres south-west of the Mongolian capital of Ulaanbaatar.

The licenses are well situated to tap the end user market, due to being just 60 kilometres from the Chinese border station of Ceke, where coal from Mongolia is currently transported through to China.

Baruun Noyon Uul – formerly North Pit – has the potential to ramp up to produce in excess of 3 million tonne per annual from an open-cut coking coal operation.

The project is also strategically located 50 kilometres east of Nariin Sukhait which includes South Gobi Resources’ Ovoot Tolgoi mine and the MAK mine, which produce and export coking and thermal coal to customers in China.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 07 Feb 2014 13:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146248/guildford-coal-edges-closer-to-coal-sales-from-mongolia-mine-52621.html
<![CDATA[News - Guildford Coal receives US$65M from OCP Asia to progress Mongolian coking coal project ]]> http://www.proactiveinvestors.com.au/companies/news/146247/guildford-coal-receives-us65m-from-ocp-asia-to-progress-mongolian-coking-coal-project-51768.html Guildford Coal (ASX: GUF) has received US$65 million in funds from OCP Asia to repay existing debt and for working capital purposes related to its Mongolian assets.

OCP Asia is an Asia-focused alternative investment fund manager with offices in Singapore and Hong Kong.

This will help ensure that the company’s Baruun Noyon Uul coking coal mine’s first sale of coal into China will be delivered during the first quarter of 2014.

The funds consist of US10 million in exchange for the issue of convertible notes and US$55 million in exchange for the issuance of Amortising Notes as well as Detachable Warrants equal to 18.5% of the Amortising.

Guildford had in December completed a key 98 kilometre current haul road connecting the Baruun Noyon Uul mine with the coal distribution hub at Ceke, at the China border.

Development activities at The Mine have continued including mine advancement, additional key mining equipment delivered and facilities construction. The mine is currently being assessed by the Mongolian authorities for the purpose of commissioning.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 10 Jan 2014 16:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146247/guildford-coal-receives-us65m-from-ocp-asia-to-progress-mongolian-coking-coal-project-51768.html
<![CDATA[News - Guildford Coal negotiates reduced milestone payment for Springsure coal project in Queensland ]]> http://www.proactiveinvestors.com.au/companies/news/146246/guildford-coal-negotiates-reduced-milestone-payment-for-springsure-coal-project-in-queensland-51482.html Guildford Coal (ASX: GUF) has noted revised commercial terms of a project milestone settlement agreement regarding its prior acquisition of the Springsure coal project in Queensland.

The payment due to be made by Guildford has been reduced from $11 million to $8.8 million.

Guildford recently announced a maiden coal JORC Indicated Resource for its Springsure Project of 43 million tonnes, which triggered a settlement payable to Resco Projects under the sale agreement by which Springsure was acquired by Guildford.

The company was to have paid five tranches of $2.2 million for each 10 million tonnes, up to a maximum 50 million tonnes of JORC Indicated Resource. This has been reduced to four tranches.

As an additional positive, payment will be made by the issue of Guildford shares instead of a cash settlement.

Under the terms of the Springsure share sale agreement the volume weighted average price of Guildford ordinary shares to be issued has been calculated as $0.08239 per share.

This price results in 106,810,121 fully paid ordinary shares to be issued in full satisfaction of the Springsure Settlement.

The transaction is conditional upon formal documentation being agreed and Guildford shareholder approvals.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 30 Dec 2013 12:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146246/guildford-coal-negotiates-reduced-milestone-payment-for-springsure-coal-project-in-queensland-51482.html
<![CDATA[News - Guildford Coal's cracks Noble and OCP Asia financing for Baruun Noyon Uul project ]]> http://www.proactiveinvestors.com.au/companies/news/146245/guildford-coals-cracks-noble-and-ocp-asia-financing-for-baruun-noyon-uul-project-50055.html Guildford Coal (ASX: GUF) should trade higher after entering into a binding term sheet for new financing arrangements with OCP Asia.

The new financing will total USD$65 million, comprising 2015 convertible bonds and 2016 amortising notes with detachable warrants.

Formal documentation is also being finalised with Noble Resources International for funding of USD$22 million to complete construction of the 98 kilometre haul road connecting the company’s Baruun Noyon Uul coal mine with the China border and coal distribution hub at Ceke.

The OCP Asia bonds and notes will effectively re-finance 100% of Guilford's outstanding convertible bonds, subject to completion of final documentation.

These arrangements materially extend the maturity of existing funding, with the first potential principal repayment now not due until 2015.

Combined with the Noble facility, Guildford is now fully funded until maiden coal sales into China, expected in the first quarter next year.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 11 Nov 2013 14:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146245/guildford-coals-cracks-noble-and-ocp-asia-financing-for-baruun-noyon-uul-project-50055.html
<![CDATA[News - Guildford Coal nears production at South-Gobi in Mongolia ]]> http://www.proactiveinvestors.com.au/companies/news/146244/guildford-coal-nears-production-at-south-gobi-in-mongolia-43913.html Guildford Coal (ASX: GUF) has now commenced production activities at the South-Gobi open cut coking coal mine in Mongolia, with overburden being removed to just above top-of-coal.

Coal mining will proceed once surface infrastructure is in place and conformance of mining operations and facilities with submitted plans is verified.

The project consists of five tenements located in the South Gobi Province (Umnigovi Aimag) of the country, which are located around 1,000 kilometres south-west of the Mongolian capital of Ulaanbaatar.

The licenses are well situated to tap the end user market, due to being just 60 kilometres from the Chinese border station of Ceke, where coal from Mongolia is currently transported through to China.

The South Gobi Project – North Pit is has the potential to ramp up to produce in excess of 3 million tonne per annual from an open-cut coking coal operation.

The South Gobi Project has a JORC Resource of 110.9 million tonnes of coking coal consisting of:

- North Pit Indicated Resource of 39.7 million tonnes and an Inferred Resource of 30.7 million tonnes; and
- East Pit Inferred Resource of 40.5 million tonnes.

The East Pit has the potential to deliver an additional 2 million tonnes annually from an open cut coking coal operation.

The project is also strategically located 50 kilometres east of Nariin Sukhait which includes South Gobi Resources’ Ovoot Tolgoi mine and the MAK mine, which produce and export coking and thermal coal to customers in China.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Thu, 30 May 2013 15:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146244/guildford-coal-nears-production-at-south-gobi-in-mongolia-43913.html
<![CDATA[News - Guildford Coal increases effective ownership of White Mountain coal project ]]> http://www.proactiveinvestors.com.au/companies/news/146243/guildford-coal-increases-effective-ownership-of-white-mountain-coal-project--34892.html Guildford Coal (ASX: GUF) has increased its stake in White Mountain Pty Ltd to 62.7% with its participation in a recent rights issue.

The company took up a full allotment of the second rights issue for White Mountain, which owns 100% of the White Mountain Project located on the north eastern edge of the Galilee Basin in Queensland.

The other White Mountain shareholder, Galilee Co. Pty Ltd, elected not to participate in the rights issue, allowing Guildford the opportunity to also subscribe for these shares.

The White Mountain Project, which comprises EPC1260 and EPC1250, has demonstrated potential to support the near term development of a large open cut coal resource, and has ready access to existing rail and port infrastructure.

The south eastern boundary of EPC1260 is about 15 kilometres from a potential rail siding at Pentland.

Permian coal seams are known to outcrop in this location and were previously mined in the old Oxley Creek Coal Mine.

The White Mountain Project hosts an Inferred JORC resource of 623 million tonnes of thermal coal and, importantly, potential exists to further substantially increase the resource.

The project has a further exploration target of 40 to 815 million tonnes.

Ongoing drilling will focus on upgrading a portion of the Inferred resource to the higher confidence Indicated category as well as further expanding the overall resource.

Drilling on EPC1260 has consistently intersected significant coal seams with an interpreted thickness of up to 14.8 metres of net coal from the Permian Betts Creek Beds across four main seam groups and 9 distinct seams.

The coal seams found within the project area appear to be consistent with those published by other Galilee Basin explorers such as Adani, Hancock Coal, Blackwood Coal, Vale and China First/Waratah.

Based on results to date, an export thermal coal with moderate ash (initial estimate 15% adb), moderate calorific value (initial estimate 5,800 kcal/kg adb) and low sulphur (initial estimate 0.5% adb) appears achievable.

Studies in support of the IAS and EIS for the White Mountain Project have begun and an application for a Mining Lease is being prepared.


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Wed, 24 Oct 2012 10:10:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146243/guildford-coal-increases-effective-ownership-of-white-mountain-coal-project--34892.html
<![CDATA[News - Guildford Coal: Terra Energy poised to begin coking coal mining at South Gobi ]]> http://www.proactiveinvestors.com.au/companies/news/146242/guildford-coal-terra-energy-poised-to-begin-coking-coal-mining-at-south-gobi-33303.html Guildford Coal’s (ASX: GUF) 75%-owned subsidiary Terra Energy is set to begin mining on the North Pit at its South Gobi Project in Mongolia in the September 2012 quarter, ahead of first coking coal production in November.

Production for the first year at the North Pit is forecast to be in excess of 3 million tonnes, with mining costs estimated to be in the lowest quartile.

Start-up capital expenditure is estimated at just over $10 million, with the operation set to be cashflow positive by the end of 2012.

The North Pit is planned as an open cut coking coal operation ramping up to in excess of 4 million tonnes per annum.


Path to production

A pre-mining agreement has been granted over the North Pit, and experienced Mongolian contractor Grand Power Mining has been appointed as mining contractor to begin mining operations.

The mining operations will be headed by the leadership team that managed the start-up of the Erdenes Tavan Tolgoi Project for McMahon Holdings (ASX: MAH).

The mining contract delivers total mining costs in line with Terra Energy’s expectations for the South Gobi Project and also meets the timelines for mining to begin in September 2012.


Offtake agreement

Terra Energy has secured a long term offtake agreement with the Sojitz/Erdos Joint Venture which is expected to be finalised by the end of September.

The Sojitz Corporation is a diversified Japanese holding company that operates in a variety of industries, including energy and metal resources.

The company reported revenues of ¥4.5 trillion (A$55.6 billion) and net profit of ¥3.6 billion for the financial year ended March 2012.

In June 2012, Sojitz announced its acquisition of a 10% stake in a Chinese resources and coal distributor, Inner Mongolia Zhongmeng Coal Co (Zhongmeng) – a unit of the large Inner Mongolia Erdos Group, to help support and boost sales to China from Mongolia.

The Heads of Agreement executed between Terra and the Sojitz/Erdos Joint Venture provides for direct sales of run of mine coal up to 1 million tonnes per annum at minegate, and transportation service into China.


Strategic location

The South Gobi Project, which hosts a JORC Resource of 70.4 million tonnes of coking coal, is strategically located about 50 kilometres east of Nariin Sukhait that includes SouthGobi Resources’ (SGS) Ovoot Tolgoi mine and the MAK mine, which produce and export coking and thermal coal to customers in China.

The project, which comprises five tenements, is located in the South Gobi Province (Umnigovi Aimag) of Mongolia about 60 kilometres from the Chinese border station of Ceke, where coal from Mongolia is currently transported through to China.


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Tue, 11 Sep 2012 13:40:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146242/guildford-coal-terra-energy-poised-to-begin-coking-coal-mining-at-south-gobi-33303.html
<![CDATA[News - Guildford Coal hits milestone with 63.1Mt maiden coking coal resource in Mongolia ]]> http://www.proactiveinvestors.com.au/companies/news/146241/guildford-coal-hits-milestone-with-631mt-maiden-coking-coal-resource-in-mongolia--22060.html Guildford Coal (ASX: GUF) has confirmed an initial JORC Resource of 63.1 million tonnes of coal with coking potential at its South Gobi project in Mongolia.

The maiden resource comprises 38.2 million tonnes in the Indicated category and 24.9 million tonnes in the Inferred category.

A boost to the South Gobi project, which comprises five exploration licences, is that it is located approximately 60 kilometres from the Chinese border station town of Ceke, where coal from Mongolia is currently transported through to China.

The maiden resource underpins the potential start-up of a 1 to 2 million tonnes per annum open cut mining operation.

Guildford Coal has lodged mining licence applications for EL13780X and EL5262X and both are expected to be granted prior to the end of 2011.

The company is also in the process of completing Scoping Studies for the start-up operation with the goal of beginning mining from the North Pit (EL13780X) by the June quarter of 2012.

Drilling will continue on the other key tenements in the South Gobi Project to define a JORC Resource for the Central, West and East Pits.



South Gobi Coal Project

The South Gobi Project is located approximately 50 kilometres east of two operating mines and one large coal project which have a total coal resource estimated to be approximately 750 million tonnes.

These current mines produce in excess of 5 million tonnes per annum of high volatile bituminous coals which are marketed as separate thermal coal and coking coal products.

Significantly, the geology of the South Gobi region and competitive labour rates allow for low-cost production, with average run of mine cash costs estimated at US$20 per tonne.

Selling prices for unwashed run of mine coal are estimated at between $40 per tonne and $50 per tonne purchased at mine gate.

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Tue, 15 Nov 2011 10:23:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146241/guildford-coal-hits-milestone-with-631mt-maiden-coking-coal-resource-in-mongolia--22060.html
<![CDATA[News - Guildford Coal unveils 925.9 million tonne maiden coal Resource in Galilee Basin ]]> http://www.proactiveinvestors.com.au/companies/news/146240/guildford-coal-unveils-9259-million-tonne-maiden-coal-resource-in-galilee-basin-21157.html Guildford Coal (ASX: GUF) has reinforced the significant scale potential of the Hughenden Project, delivering a maiden Inferred Resource of 925.8 million tonnes of thermal coal within nine seams in the Permian Basin.

This Resource has been calculated on a resource domain representing less than 1% of the greater Hughenden Project tenement area, with potential to substantially increase the Resource.

Guildford has previously pointed to an exploration target of 0.58-5.72 billion tonnes for Hughenden.

The company is already working to expand the Resource, with an additional intersection of the Betts Creek Coal Seams, recorded last week, to be incorporated into the Resource Model when confirmed.

Guildford has also intersected the Betts Creek Coal Seams at about 200 metres depth, 15 kilometres north of the Resource area. Further drilling will aim to delineate the subcrop of the sequence and define a potential open cut operation.

Drilling at the White Mountain project, on the north eastern edge of the Galilee Basin, has also intersected the Betts Creek Coal Seams at about 80 metres depth, with potential for an open cut Resource.

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Tue, 25 Oct 2011 13:19:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146240/guildford-coal-unveils-9259-million-tonne-maiden-coal-resource-in-galilee-basin-21157.html
<![CDATA[News - Guildford Coal ups stake in subsidiary White Mountain ]]> http://www.proactiveinvestors.com.au/companies/news/146239/guildford-coal-ups-stake-in-subsidiary-white-mountain--20351.html Guildford Coal (ASX: GUF) has boosted its holding in its majority owned subsidiary, White Mountain, to 56% after it reached an agreement for the transfer of its 100%-owned coal exploration tenement EPC1250 into the subsidiary.

The deal increases Guildford’s position in White Mountain by 5%. The remaining shares in the subsidiary are largely held by Tiaro Coal.

White Mountain already holds 100% of EPC1260 and with the completion of this deal will hold 100% of the adjoining EPC1250.

The expanded tenement holding in White Mountain consolidates the ownership of the tenements in the Guildford Hughenden-White Mountain Project.

The White Mountain Project is located on the north-eastern edge of the Galilee Basin in Queensland where the Permian coal seams are known to outcrop and where they were previously mined in the old White Mountain Coal Mine.

Independent geological consultant Palaris Mining Consultants estimates an exploration target of up to 745 million tonnes of Galilee Basin thermal coal within EPC1260.

Meanwhile, Xstract Mining Consultants estimates exploration potential of 40-70Mt of Galilee Basin thermal coal within EPC1250, which covers the old White Mountain coal mine.

According to Guildford Coal, the White Mountain Project is a potential early stage development opportunity in the Hughenden Project which is well located to utilise existing rail and port capacity.

The south-eastern boundary of EPC1260 is only about 15 kilometres from a potential rail siding at Pentland.

Guildford Coal acquired the White Mountain Project in April this year after signing an agreement with Tiaro Coal for a 51% stake in EPC1260 for a $3.3 million up-front payment and a $5 million commitment to exploration and development of EPC1260.

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Tue, 04 Oct 2011 13:21:00 +1100 http://www.proactiveinvestors.com.au/companies/news/146239/guildford-coal-ups-stake-in-subsidiary-white-mountain--20351.html
<![CDATA[News - Guildford Coal increases exploration targets in its Mongolian coal projects ]]> http://www.proactiveinvestors.com.au/companies/news/146238/guildford-coal-increases-exploration-targets-in-its-mongolian-coal-projects-20241.html Guildford Coal (ASX: GUF) is evaluating an IPO of its 70% owned subsidiary Terra Energy after an upgrade in its Exploration Targets in its Mongolian coal projects to 30 million tonnes to 1.38 billion tonnes.

Guildford would remain a significant shareholder in Terra Energy.

Both the South Gobi Project and the Middle Gobi Project are held via the stake in Terra Energy.

The South Gobi Project is edging closer to a maiden JORC resource in October 2011 and a Mining Licence application is being prepared for the project. The Exploration Target has been increased from 0 to 700 million tonnes.

The project is also strategically located approximately 50 kilometres east of Nariin Sukhait which includes SouthGobi Resources' Ovoot Tolgoi mine and the MAK mine, which currently produce and export coking and thermal coal to customers in China.

The near surface coal geology of the South Gobi region and competitive labour rates allow for low-cost production, with average ROM cash costs estimated at US$20 a tonne. Selling prices for unwashed ROM coal are estimated at between US$40 a tonne and US$50 a tonne purchased at mine gate.

The South Gobi Project has the potential for near term development into a 1-to-2 million tonne per annum open-cut coking and thermal coal mine.

Preliminary estimates of the project are that it could have potential for high quality low sulphur coking coal.

Middle Gobi Project

Following further drilling, independent consulting geologists have increased the Middle Gobi Exploration Target to 30 million tonnes to 680 million tonnes.

The Middle Gobi Project consists of two exploration licences located in the Dundgovi Province which is 200 kilometres south of Ulaanbaatar and just over 200 kilometres west of the Mongolian railway grid.

Guildford will drill at the South Gobi Project and Middle Gobi Project during September and October with a view to defining JORC resources at each of these projects by the end of October 2011.

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Fri, 30 Sep 2011 09:15:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146238/guildford-coal-increases-exploration-targets-in-its-mongolian-coal-projects-20241.html
<![CDATA[News - Guildford Coal granted Sierra hard coking coal tenement, drilling set to commence ]]> http://www.proactiveinvestors.com.au/companies/news/146237/guildford-coal-granted-sierra-hard-coking-coal-tenement-drilling-set-to-commence-18870.html Guildford Coal (ASX: GUF) has been granted the Sierra Tenement EPC1822 in the Bowen Basin, Queensland, and drilling is scheduled to commence early in the final quarter of 2011.

The Sierra Project (EPC1822) is 100% owned by Guildford and has hard coking coal targets in the Fair Hill, Burngrove and Crocker Formations.

There is an open cut mineral resource target with an estimated 20 kilometres of strike of the Fair Hill Formation sub crop running north-south across EPC1822.

Importantly, the tenement is close to the Blackwater rail system cutting across the northern edge of the tenement.

Recent drilling by Newlands Resources (ASX: NRL) in their Comet Ridge Project to the immediate south has confirmed the concept for the Sierra Project with multiple thick intersections of up to 14 metres thickness of the Fair Hill formation near surface. The coal has raw CSN values of up to 8.5 according to Newlands.

Newlands have an exploration target of 200 to 250 million tonnes in their project based on 5 kilometres of strike extensions of the Fair Hill formation.

The Guildford Sierra Project has an interpreted 20 kilometres of strike extension of the Fair Hill formation running north-south within the project area.

Guildford will have a total of 6 drill rigs operating on its priority projects in Queensland upon commencement of drilling at Sierra.

In addition to its Queensland projects, Guildford recently completed a US$3.5 million acquisition in the South Gobi coal bearing basin in Mongolia.

Guildford is already eyeing the possibility of becoming a coal producer within a year in the South Gobi, due to the strategic location close to the Chinese border station of Ceke - where coal from Mongolia is already trucked into China.



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Tue, 23 Aug 2011 09:08:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146237/guildford-coal-granted-sierra-hard-coking-coal-tenement-drilling-set-to-commence-18870.html
<![CDATA[News - Guildford Coal eyes Mongolian coal production within a year, acquires additional land ]]> http://www.proactiveinvestors.com.au/companies/news/146236/guildford-coal-eyes-mongolian-coal-production-within-a-year-acquires-additional-land-18476.html Guildford Coal (ASX: GUF) has highlighted that it's not just Australian coal companies coming onto the acquisition radar - and has completed a US$3.5 million acquisition in the South Gobi coal bearing basin in Mongolia.

The new acquisition exploration permit adjoins the existing South Gobi Project tenements which expands the scale potential of the coking and thermal coal project.

Guildford is already eyeing the possibility of becoming a coal producer within a year in the South Gobi, due to the strategic location close to the Chinese border station of Ceke - where coal from Mongolia is already trucked into China.

Mick Avery, managing director, commented on the company's operations, and said "Exploration is confirming the targets and that Guildford is progressing to the establishment of JORC-compliant resources on three of our priority projects at Hughenden in Queensland and South Gobi and Middle Gobi in Mongolia”.

Independent geologists have developed an exploration target of 0 to 122 million tonnes for the new tenement, taking the target for the South Gobi Project to 0 to 582 million tonnes.

Guildford said an exploration target has also been developed of 29 to 149 million tonnes for the Middle Gobi Project - which takes the total target for Guildford’s portfolio of Mongolian Projects to 29 to 731 million tonnes.

 

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Tue, 09 Aug 2011 11:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146236/guildford-coal-eyes-mongolian-coal-production-within-a-year-acquires-additional-land-18476.html
<![CDATA[News - Guildford Coal in trading halt pending 'exploration results' announcement ]]> http://www.proactiveinvestors.com.au/companies/news/146235/guildford-coal-in-trading-halt-pending-exploration-results-announcement-16198.html Guildford Coal (ASX: GUF) has been granted a trading halt by the ASX pending an 'exploration results' announcement by the company.

Guildford did not allude as to which project the results would be from, but earlier in the month the company kicked off exploration in Mongolia, intersecting coal.

Drilling commenced with two drills operating in the South Gobi Project with the first hole intersecting around 8 metres net of coal contained in three coal seams, with the deepest seam estimated at 87 metres.

Exploration also started at the Middle Gobi Project, with one drill in operation.

Guildford said the exploration plan aims to link in with previous historic exploration, with the goal to ultimately define both the strike extent and up dip extensions of this group of seams.

The company added that the four South Gobi licences are believed to be locally confined with the Ovoot Khural Basin, and the coal intersected in drilling interpreted to be from Permian strata of the Deliin Shand suite.

The nearby MAK and Ovoot Tolgoi mines produce high volatile bituminous coals from this same Deliin Shand Group which are marketed as a mixture of both thermal and coking coal products.

Guildford has already been a top performer for investors who participated in the IPO in mid-2010, which offered 10 million shares at $0.20 to raise $2 million, with the company last trading at $1.30.

 

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Thu, 12 May 2011 07:54:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146235/guildford-coal-in-trading-halt-pending-exploration-results-announcement-16198.html
<![CDATA[News - Guildford Coal intersects 8 metres of net coal in Mongolia ]]> http://www.proactiveinvestors.com.au/companies/news/146234/guildford-coal-intersects-8-metres-of-net-coal-in-mongolia-15859.html Guildford Coal (ASX: GUF) has reported that Terra Energy LLC, in which Guildford has a 20% stake, has intersected eight metres of net coal contained within three seams at the company’s South Gobi Project in Mongolia.

Terra holds four exploration licenses at South Gobi and two exploration licenses at Middle Gobi. Terra Energy holds a 100% interest in six exploration licenses that are prospective for thermal and coking coal in the South Gobi and Middle Gobi regions.

Guildford has an option to increase its stake in Terra to 70%. 

The deepest seam within the three has been estimated at 87 metres with coal intersected in drilling interpreted to be from Permian strata of the Deliin Shand suite.

Nearby MAK and Ovoot Tolgoi mines produce high volatile bituminous coals from the same Deliin Shand Group which are marketed as a mixture of both thermal and coking coal products.

South Gobi Energy Resources (HKG: 1878) operates the Ovoot Tolgoi mine.

Historical exploration at the site has provided the foundation for the current exploration of thermal and coking coal at South Gobi and the Middle Gobi Project.

Guildford has two drill rigs operating at South Gobi and one drill at operating within the Middle Gobi Project.

A mining licence application is being prepared for the project with expected lodging in the third quarter of this year.

 

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Mon, 02 May 2011 10:03:00 +1000 http://www.proactiveinvestors.com.au/companies/news/146234/guildford-coal-intersects-8-metres-of-net-coal-in-mongolia-15859.html