http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Wed, 28 Jun 2017 13:29:43 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - TiGenix to present at the 7th TERMIS-EU Conference ]]> http://www.proactiveinvestors.com.au/companies/rns/170623tigh5186/ Fri, 23 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170623tigh5186/ <![CDATA[RNS press release - News ]]> http://www.proactiveinvestors.com.au/companies/rns/170620tigh4315/ Tue, 20 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170620tigh4315/ <![CDATA[RNS press release - News ]]> http://www.proactiveinvestors.com.au/companies/rns/170615tigh3240/ Thu, 15 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170615tigh3240/ <![CDATA[RNS press release - TiGenix Launches Global Phase III Trial for Cx601 ]]> http://www.proactiveinvestors.com.au/companies/rns/170613tigh2733/ Tue, 13 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170613tigh2733/ <![CDATA[RNS press release - TiGenix announces final equity payment for cardiac ]]> http://www.proactiveinvestors.com.au/companies/rns/170612tigh2290/ Mon, 12 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170612tigh2290/ <![CDATA[RNS press release - TiGenix to present at the Jefferies 2017 Global He ]]> http://www.proactiveinvestors.com.au/companies/rns/170601tigh9500/ Thu, 01 Jun 2017 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170601tigh9500/ <![CDATA[RNS press release - TiGenix provides regulatory update on Cx601 EU Mar ]]> http://www.proactiveinvestors.com.au/companies/rns/170531tigh8520/ Wed, 31 May 2017 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170531tigh8520/ <![CDATA[News - Tigers Realm Coal to be among world’s lowest cost producers ]]> http://www.proactiveinvestors.com.au/companies/news/178287/tigers-realm-coal-to-be-among-worlds-lowest-cost-producers-178287.html Tigers Realm Coal (ASX:TIG) has the potential to be one of the world’s lowest cost coking coal producers with site operating costs of circa US$41 per tonne FOB at its current operation.

The company continues to ramp up mining since commencing coal production in December 2016 at Project F within its Amaam Coking Coal Project located in eastern Russia.

Amaam has a 632 million tonne resource base of high quality metallurgical coal with potential for further growth in a stable, supportive jurisdiction.

Coal is trucked from Amaam to the 100%-owned Beringovsky Port and Coal Terminal, located 37 kilometres by road to the north east of the Amaam North tenement.

Phase One of Project F is in production and ramping up to 600,000 tonnes per annum with relatively low capital expenditure required to grow Project F to an interim 2+ million tonnes per annum capacity.


Amaam Coking Coal Project

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

Binding documents have been prepared and will be signed pending some administrative restructuring requirements currently in process.

The company owns 100% of the Beringovsky Port and Coal Terminal, located 75 kilometres by road to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.


Development strategy

TIG’s strategy is to become a significant supplier of 5 to 10 million tonnes per annum of coking coal to the seaborne market via the staged development of the Amaam North and Amaam coal basins.

This will be achieved through three stages.

Stage 1: Development of Project F to 1.0 million tonnes per annum semi-hard coking coal operation shipping through company owned Beringovsky Port.

Stage 2: Production increases from Project F which is open to depth and along strike, and many prospective areas of outcropping Middle Chukchi coal on Amaam North.

Stage 3: Development of Amaam to full capacity and the establishment of a transportation corridor to a year round port at the deep water Arinay Lagoon. Open pit pre-feasibility study estimated 5 million tonnes per annum production.


Project F: Phase One progress

Up to April 30,, 97,000 tonnes of coal has been delivered to port in the first 4 months of production.

First cargoes will be shipped in June 2017 and the second stage of road construction will provide year-round haulage.

With site operating costs of circa US$41 per tonne FOB, Project F has the potential to be one of the world’s lowest cost coking coal producers.

Project F has a low stripping ratio, short overland transport to port, and low third party charges due to ownership of the port.

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Thu, 25 May 2017 09:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/178287/tigers-realm-coal-to-be-among-worlds-lowest-cost-producers-178287.html
<![CDATA[RNS press release - TiGenix to present at Bank of America Merrill Lync ]]> http://www.proactiveinvestors.com.au/companies/rns/170511tigh3548/ Thu, 11 May 2017 06:04:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170511tigh3548/ <![CDATA[RNS press release - News ]]> http://www.proactiveinvestors.com.au/companies/rns/170510tigh3002/ Wed, 10 May 2017 06:02:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170510tigh3002/ <![CDATA[RNS press release - TiGenix Cx601 positive long-term results to be pre ]]> http://www.proactiveinvestors.com.au/companies/rns/170504tigh1651/ Thu, 04 May 2017 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170504tigh1651/ <![CDATA[RNS press release - TiGenix: CONVENING NOTICE TO THE ANNUAL SHAREHOLDE ]]> http://www.proactiveinvestors.com.au/companies/rns/170502tigh0136/ Tue, 02 May 2017 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170502tigh0136/ <![CDATA[RNS press release - TiGenix reports 2016 full year results ]]> http://www.proactiveinvestors.com.au/companies/rns/170406tigh4170/ Thu, 06 Apr 2017 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170406tigh4170/ <![CDATA[RNS press release - TiGenix to participate in key investor conferences ]]> http://www.proactiveinvestors.com.au/companies/rns/170405tigh3795/ Wed, 05 Apr 2017 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/170405tigh3795/ <![CDATA[RNS press release - TiGenix Announces Top-Line Phase I/II Results of A ]]> http://www.proactiveinvestors.com.au/companies/rns/170313tigh7064/ Mon, 13 Mar 2017 06:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170313tigh7064/ <![CDATA[RNS press release - TiGenix Announces Positive Topline Week-104 Data f ]]> http://www.proactiveinvestors.com.au/companies/rns/170309tigh6190/ Thu, 09 Mar 2017 06:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170309tigh6190/ <![CDATA[News - Tigers Realm Coal increasing production in Russia ]]> http://www.proactiveinvestors.com.au/companies/news/174355/tigers-realm-coal-increasing-production-in-russia-174355.html Tigers Realm Coal (ASX:TIG) has continued to ramp up operations since commencing coal production in December 2016 at Project F within its Amaam Coking Coal Project located in eastern Russia.

Coal is being trucked to stockpiles at the company-owned Beringovsky Port.

Through January and February the mining and coal transport to port operations have continued with site operating systems and mine planning working well.

The ramp-up period has been in line with budget and coal production is steadily improving and the site team continues work on improving performance.

Coal quality delivered to port is also in line with company expectations.


Production update

Mining and coal transport from Project F commenced in December 2016.

Coal delivered to the port over the past months is as follows:

- December 2016: 3,600 tonnes;
- January 2017: 21,200 tonnes; and
- February 2017: 23,300 tonnes.

An additional 12,000 tonnes of coal has been delivered to intermediate stockpiles near the pit.

After accounting for trucking days lost due to poor weather conditions, average daily coal trucking performance improved by 27% from 920 tonnes per day in January to 1,167 tonnes per day in February.

Initial coal production by necessity has come from the lowest quality coal containing weathered materials near surface, and better quality coals will be mined going forward.

The company plans to blend its thermal coals for 2017 shipping to target the sale of a typical calorific value coal of 6000 kcal/kg net as received (NAR).


Site visit from Governor

During February, the Governor of Chukotka, Roman Kopin visited site with other senior officials.

A news crew accompanied the Governor and the visit was reported on the evening television news across Russia.

Following the visit he communicated his positive impression of the operations and site management team.

Discussions during the visit focused on aspects of the operation that could be improved through cooperative arrangements between the company and government.


Amaam Coking Coal Project

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

Binding documents have been prepared and will be signed pending some administrative restructuring requirements currently in process.

The company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.

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Tue, 07 Mar 2017 13:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/174355/tigers-realm-coal-increasing-production-in-russia-174355.html
<![CDATA[RNS press release - TiGenix Receives Positive Feedback from the FDA on ]]> http://www.proactiveinvestors.com.au/companies/rns/170307tigh5382/ Tue, 07 Mar 2017 06:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170307tigh5382/ <![CDATA[RNS press release - TiGenix Provides Update on Cx601 Marketing Authori ]]> http://www.proactiveinvestors.com.au/companies/rns/170306tigh4995/ Mon, 06 Mar 2017 06:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170306tigh4995/ <![CDATA[RNS press release - TiGenix to present at Cowens 37th Annual Health C ]]> http://www.proactiveinvestors.com.au/companies/rns/170301tigh3197/ Wed, 01 Mar 2017 06:01:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170301tigh3197/ <![CDATA[RNS press release - News ]]> http://www.proactiveinvestors.com.au/companies/rns/170217tigh9607/ Fri, 17 Feb 2017 08:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170217tigh9607/ <![CDATA[RNS press release - TiGenix Enrolls First Patient in Phase Ib/IIa Clin ]]> http://www.proactiveinvestors.com.au/companies/rns/170131tigh4583/ Tue, 31 Jan 2017 06:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/170131tigh4583/ <![CDATA[News - Tigers Realm Coal begins 2017 as a coal producer ]]> http://www.proactiveinvestors.com.au/companies/news/172147/tigers-realm-coal-begins-2017-as-a-coal-producer-172147.html Tigers Realm Coal (ASX:TIG) mined and trucked its first coal in late December from Project F Phase One at its Amaam Coking Coal Project located in eastern Russia.

Coal is being trucked to stockpiles at the company-owned Beringovsky Port.

Tigers Realm plans to mine and haul coal to the port on the winter road until early May.

At that time coal production will temporarily cease and road works will recommence to convert the winter road into an all season road.

Following the completion of these works in the third quarter, coal mining and trucking to the port will recommence at a rate of 600,000 tonnes per annum.


Mining operations update

Coal mining commenced in a part of the pit where the waste to coal stripping ratio for the first 12 months of production is less than 2:1 (waste:coal).

Mining is being carried out with a fleet comprising a 40 tonne excavator on coal, a 70 tonne excavator on waste, five 40 tonne in pit trucks, a grader and two 70 tonne bulldozers.

Coal haulage on the winter road from the pit to the port is being undertaken with eight 30 tonne capacity trucks.


Amaam Coking Coal Project

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has recently signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

In addition, the company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.


Project F: Phase One

Phase One is a starter project ahead of an expansion to full Project F at 1+ million tonnes per annum.

First coal sales are expected during 2017, ramping up to 600,000 tonnes per annum of unwashed thermal and coking coal by 2018.

The Phase One open pit targets near surface coal reserves located 37 kilometres from the company owned Beringovsky Port.

The capital investment for Phase One is estimated to be US$ 6.6 million expended in two periods and site operating costs are estimated at US$25 per tonne free on board (FOB).

The company secured $23.3 million funding through a successful rights issue in the December quarter of 2016.


Analysis

In less than four years Tigers Realm has progressed Project F from resource identification and initial evaluation to production.

Tigers Realm Coal sales forecast for the unwashed product in 2017 are estimated at 30,000 tonnes of semi‐soft coking coal to the steel sector and up to 220,000 tonnes of thermal coal into the industrial and power generation sector.

The Q1 2017 semi-soft coking coal settlement price is US$171 per tonne FOB, and the current Newcastle thermal price is circa US$85 per tonne.

This offers a significant margin to the forecast per tonne operating cost of coal from Phase One.

The company’s share price is up 170% over the past six months, currently trading at $0.065.

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Wed, 25 Jan 2017 15:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/172147/tigers-realm-coal-begins-2017-as-a-coal-producer-172147.html
<![CDATA[RNS press release - TiGenix Submits Day 120 Responses to European Medi ]]> http://www.proactiveinvestors.com.au/companies/rns/161222tigh7574/ Thu, 22 Dec 2016 21:01:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161222tigh7574/ <![CDATA[RNS press release - TiGenix: Takeda Exercises its Option to Develop an ]]> http://www.proactiveinvestors.com.au/companies/rns/161221tigh7225/ Wed, 21 Dec 2016 21:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161221tigh7225/ <![CDATA[RNS press release - Takeda makes €10 million equity investment in ]]> http://www.proactiveinvestors.com.au/companies/rns/161220tigh6895/ Tue, 20 Dec 2016 21:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161220tigh6895/ <![CDATA[RNS press release - TiGenix announces closing of NASDAQ IPO ]]> http://www.proactiveinvestors.com.au/companies/rns/161220tigh6761/ Tue, 20 Dec 2016 15:01:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161220tigh6761/ <![CDATA[RNS press release - TiGenix raises $35.65 million gross proceeds with ]]> http://www.proactiveinvestors.com.au/companies/rns/161215tigh5344/ Thu, 15 Dec 2016 02:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161215tigh5344/ <![CDATA[News - Tigers Realm Coal completes road from port to open pit as production looms ]]> http://www.proactiveinvestors.com.au/companies/news/170001/tigers-realm-coal-completes-road-from-port-to-open-pit-as-production-looms-170001.html Tigers Realm Coal (ASX:TIG) is moving closer to production, as it continues the development of Project F Phase One at its Amaam Coking Coal Project located in eastern Russia.

As of early December, the road from the port to the open pit; new infrastructure including the workshop, office and laboratory; and upgrades to the existing accommodation camp; are complete.

Site works are presently focused on the open pit area where a small waste pre-strip is being excavated ahead of coal mining.

Tigers Realm is expecting to be mining and transporting coal to the port before the end of December.


Amaam Coking Coal Project

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has recently signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

In addition, the company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.


Project F: Phase One

Phase One is a starter project ahead of an expansion to full Project F at 1+ million tonnes per annum.

First coal sales are expected during 2017, ramping up to 600,000 tonnes per annum of unwashed thermal and coking coal by 2018.

The Phase One open pit targets near surface coal reserves located 37 kilometres from the company owned Beringovsky Port.

The capital investment for Phase One is estimated to be US$ 6.6 million expended in two periods and site operating costs are estimated at US$25 per tonne free on board (FOB).

The company recently secured $23.3 million funding through a successful rights issue.


Analysis

With pre-mining work at Project F Phase One underway, Tigers Realm is well positioned to make the transition into a coking coal producer.

The project is located only 37 kilometres by road to the company owned coal port with competitive delivery routes to Asian customers.

This starter open pit project has good potential to generate free cash flow with low operating costs of US$25 per tonne FOB.

With site operating costs of circa US$41 per tonne FOB for the overall Project F, Tigers Realm has the potential to be one of the world’s lowest cost coking coal producers.

Coal prices have spike in the December quarter of 2016 Chinese restrictions on supply, Australian supply disruptions and lower U.S. coking coal exports.

Shares in Tigers Realm have doubled year to date, currently priced at $0.06.

With JORC compliant coal resources of 632 million tonnes within Amaam and Amaam North, Project F is just the beginning for Tigers Realm.

Relatively low capital expenditure is required to grow the project to an interim 2+ million tonnes per annum production capacity with further expansion potential thereafter.

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Tue, 06 Dec 2016 11:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/170001/tigers-realm-coal-completes-road-from-port-to-open-pit-as-production-looms-170001.html
<![CDATA[RNS press release - TiGenix announces launch of proposed initial publi ]]> http://www.proactiveinvestors.com.au/companies/rns/161205tigh2016/ Mon, 05 Dec 2016 21:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161205tigh2016/ <![CDATA[RNS press release - TiGenix provides update on proposed initial public ]]> http://www.proactiveinvestors.com.au/companies/rns/161026tigh1828/ Wed, 26 Oct 2016 22:00:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161026tigh1828/ <![CDATA[RNS press release - TiGenix publishes transparency notifications pursu ]]> http://www.proactiveinvestors.com.au/companies/rns/161026tigh1790/ Wed, 26 Oct 2016 19:01:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161026tigh1790/ <![CDATA[News - Tigers Realm Coal Ltd plans production this quarter with $23.3M raised ]]> http://www.proactiveinvestors.com.au/companies/news/167954/tigers-realm-coal-ltd-plans-production-this-quarter-with-233m-raised-167954.html Tigers Realm Coal Ltd (ASX:TIG) has commenced the development of Project F Phase One at its Amaam Coking Coal Project located in eastern Russia.

With $23.3 million funding recently secured in a successful rights issue, the company is targeting production for December, 2016.

The company has been applying the funds raised towards completion of a 30 kilometre haulage road, mining equipment and site infrastructure construction works.

Following test work, two North Asian steel companies have already confirmed their technical acceptance of Project F semi hard coking coals subject to trial cargos.

Additionally, confirmation has been received from several other North Asian customers of their potential interest in our Phase One thermal and semi soft coal products.


Background

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has recently signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

In addition, the company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.

Tigers Realm aims to commence coal mining late in the fourth quarter of 2016 at Project F: Phase One.


Project F: Phase One update

Phase One is a starter project ahead of an expansion to full Project F at 1+ million tonnes per annum.

The Phase One open pit targets near surface coal reserves located 37 kilometres from the company owned Beringovsky Port.

The capital investment for Phase One is estimated to be US$ 6.6 million expended in two periods and site operating costs are estimated at US$25 per tonne free on board (FOB).

The first stage of road works is 80% completed and is to be finished by November.

Infrastructure construction commenced in early October following the arrival of required construction materials and contractor teams to Beringovsky.

Planned 2016 procurement for Phase One is complete.

To date, work on mining operations has focussed on recruitment, detailed mine planning, and preparations for grade control drilling. The project’s key operational roles are now filled.

Work in the mine area is expected start in early November.

The successful completion of these works according to plan will see first coal mined and transported to the port stockpiles in December 2016.


Analysis

With $17.7 million in cash at the end of the September quarter and development of Project F Phase One underway, Tigers Realm is well positioned to make the transition into a coking coal producer.

This starter open pit project has good potential to generate free cash flow with low operating costs of US$25 per tonne FOB.

Recent spot selling prices ensure a good margin at US$65 per tonne FOB for thermal coal and US$110 per tonne FOB for semi soft coking coal from the nearby port.

Project F has the potential to be one of the world’s lowest cost coking coal producers.

Test work completed by North Asian steel companies confirming the technical acceptance of Project F semi hard coking coals subject to trial cargos further de-risks the project.

Shares in Tigers Realm are trading strongly, up 150% year to date, currently priced at $0.075.

News flow is expected with regard to further development updates at Project F Phase One and grade control, which is expected to commence within two weeks.

With a JORC compliant coal resources of 632 million tonnes within Amaam and Amaam North, Project F is just beginning for Tigers Realm.

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Wed, 26 Oct 2016 09:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/167954/tigers-realm-coal-ltd-plans-production-this-quarter-with-233m-raised-167954.html
<![CDATA[RNS press release - TiGenix Announces Orphan Drug Designation (ODD) fo ]]> http://www.proactiveinvestors.com.au/companies/rns/161017tigh9245/ Mon, 17 Oct 2016 06:02:00 +1100 http://www.proactiveinvestors.com.au/companies/rns/161017tigh9245/ <![CDATA[RNS press release - TiGenix Appoints Dr. June Almenoff to its Board of ]]> http://www.proactiveinvestors.com.au/companies/rns/160922tigh3761/ Thu, 22 Sep 2016 06:00:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/160922tigh3761/ <![CDATA[RNS press release - TiGenix Business and Financial Update for the Firs ]]> http://www.proactiveinvestors.com.au/companies/rns/160920tigh3198/ Tue, 20 Sep 2016 06:01:00 +1000 http://www.proactiveinvestors.com.au/companies/rns/160920tigh3198/ <![CDATA[News - Tigers Realm Coal Ltd receives government support, shares rise ]]> http://www.proactiveinvestors.com.au/companies/news/165987/tigers-realm-coal-ltd-receives-government-support-shares-rise-71052.html Tigers Realm Coal Ltd (ASX:TIG) share price has more than doubled since the beginning of September with the company most recently receiving government support for its coking coal assets in eastern Russia.

During the recent Eastern Economic Forum in Vladivostok, Tigers Realm signed an update to its co-operation agreement with the Government of Chukotka.

The company was also formally awarded certificates confirming its residence in the Beringovsky Advanced Development Zone (ADZ).

The ADZ was created by Russian legislation to provide an attractive investment and administrative framework for investors and companies operating within the zone.

Tigers Realm aims to be producing coal from the Amaam Coking Coal Project located in eastern Russia by late Q4 2016.

Timing is fortuitous with coking coal prices rising as high as US$190/t through September, nearly double the prices at the beginning of 2016.


Background

Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project, located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has recently signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

In addition, the company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.

Tigers Realm aims to commence coal mining late in the fourth quarter of 2016 at Project F: Phase One.


Updated co-operation agreement

The primary purpose of this agreement is to further strengthen the relationship and co-operation between Tigers Realm and the government in developing the Beringovsky coking coal basin and constructing the necessary transport, logistics and energy infrastructure.

The Government of Chukotka has undertaken to assist the company:

- To obtain the necessary permits for conducting its project activities;
- To employ locally qualified personnel for the company’s operations, and secure federal subsidies associated with the deployment of employees to Chukotka;
- To access infrastructure and production facilities owned by Russian municipal and regional governments on economically acceptable terms during the entire term of the company's projects; 
- Cooperate with Russian Federal executive bodies performing regulatory activities and servicing of infrastructure facilities; and
- In the development of economically acceptable requirements in relation to the design and reconstruction of border and custom control points at Beringovsky port.


ADZ benefits

As a formal resident of the ADZ, Tigers Realm is able to take advantage of benefits which include:

- Preferential customs regulations and exemptions from some import duties and customs Duties;
- Easier regulations for employing foreign staff in the event of a shortage of local workers;
- The opportunity to receive co-financing from the sovereign Russian Far East Development Fund;
- Exemption from taxes on revenue, property and land for the first five years of the implementation of the company’s investment projects; and
- Reduction of social security payroll tax from 30% to 7.6% for the first 10 years of company’s activities.


Analysis

The updated co-operation agreement and the certificates of residency in the ADZ represent two important milestones for Tigers Realm as they progress towards coking coal production.

The updated co-operation agreement with the Government of Chukotka shows a strengthened relationship which is important for developing the Beringovsky coking coal basin and constructing the transport, logistics and energy infrastructure to support the company’ projects.

The certificates of residency in the ADZ provide Tigers Realm with valuable benefits that include looser regulation, tax breaks and the ability to receive financing from Russia’s sovereign fund.

Looking ahead, the near term development of Phase One of Project F will be an important milestone and value catalyst for Tigers Realm as it looks to become a significant supplier of coking coal.

Given the cost advantages, Project F has the potential to be one of the world’s lowest cost coking coal producers.

Thanks to a low stripping ratio compared to competitors, short overland transport, and company owned infrastructure, site operating costs are expected to be between US$39 and US$45 per tonne FOB.

With hard coking coal prices rising as high as US$190 per tonne recently, this project has significant opportunity to generate strong cash flows for Tigers Realm.

 

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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Fri, 16 Sep 2016 11:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165987/tigers-realm-coal-ltd-receives-government-support-shares-rise-71052.html
<![CDATA[News - Tigers Realm Coal Ltd closing in on low cost coking coal production in 2016 ]]> http://www.proactiveinvestors.com.au/companies/news/165351/tigers-realm-coal-ltd-closing-in-on-low-cost-coking-coal-production-in-2016-70343.html Tigers Realm Coal Ltd (ASX:TIG) aims to be producing coal from the Amaam Coking Coal Project located in eastern Russia by late Q4 2016.

Production is set to commence from Phase One of Project F, where the company have recently completed a feasibility study.

The capital cost of Phase One is estimated to be US$6.6 million and site operating costs are estimated to be US$25 per tonne free on board (FOB).

Following the completion of the successful feasibility study, the company launched a A$23.3 million rights issue.

Funds raised will be mainly used for financing the development of initial coal mine production at Project F utilising existing infrastructure and mining fleet already mobilised to site.


Background

Tigers Realm aims to become a profitable coking coal producer by advancing the Amaam Coking Coal Project through resource delineation, feasibility studies and mine development.
 
Two tenements, Amaam and Amaam North, together comprise the Amaam Coking Coal Project. The two tenements are located within 35 kilometres of the Bering Sea coast in Chukotka Autonomous Okrug, far eastern Russia.

Tigers Realm has 80% ownership of Amaam and has recently signed a Heads of Agreement which will see its 80% ownership of Amaam North increase to 100%.

In addition, the company owns 100% of the Beringovsky Port and Coal Terminal, located 35 kilometres to the north east of the Amaam North tenement.


Amaam Coking Coal Project

Amaam and Amaam North have combined JORC compliant coal resources of 632 million tonnes with the majority of these resources being of coking coal quality.

Project F within Amaam North has 110.6 million tonnes of coal resources, 16.1 million tonnes of which have already been classified as Product (Marketable) Reserves under JORC.

The recently completed Project F feasibility study supports development of a 20-year, 1 million tonne per annum low cost mining operation with potential to more than double output with open pit expansions and underground mining.


Project F

Tigers Realm recently completed an update to its November 2014 Feasibility Study for Project F located within Amaam North, based on a substantial increase in Coal resources defined since then. The key outcomes of the update to the feasibility study for Project F completed in April 2016 are as follows:

- A life-of-mine (LOM) average waste to product stripping ratio of 4.9:1;
- LOM marketable production of 18.9 million tonnes, comprising 13.4 million tonnes of semi-hard coking coal and 5.5 million tonnes of thermal coal;
- A 140% increase in marketable coal reserves;
- Initial capital for 1.0 million tonnes per annum production rate estimated at US$99 million;
- LOM average operating cost estimated to be US$41 per tonne FOB including state royalties; and
- Potential for a low cost start up to production through Project F Phase One.


Project F: Phase One

During the June quarter, the board approved the Project F Phase One feasibility study aimed at moving the project forward at a low initial capital cost of US$6.6 million.

Phase One of Project F’s development leverages off the mine fleet and infrastructure already at site, and targets near surface coal seams to produce unwashed thermal and coking coal products.

Site operating costs for Phase One are estimated to be US$25 per tonne FOB.

The Phase One feasibility study estimates that approximately 3.8 million tonnes of sales can be achieved at a stripping ratio less than 3:1.

Production is expected to ramp up to a rate of 600,000 tonnes over 2 years.

Coal mining is to commence late in Q4 2016, with first sales in 2017.


Increasing ownership to 100%

At the end of June, Tiger’s Realm signed two binding heads of agreements (HOAs) with its joint venture partner B.S. Chukchi Investments Limited.

The implementation of this HOA over Amaam North will increase the company’s ownership to 100% from 80%, and reduce annual joint venture payments, compared to current royalties, on Amaam North (including Project F) coal revenues, including lower payments during the Project F start-up phase. This is subject to successfully funding Phase One capital requirement.

The new conditions described in the HOAs are to improve Amaam North Project’s value and fundability, and simplify ongoing corporate and approval processes for the Amaam Project.


Infrastructure
 
Tigers Realm owns 100% of the Beringovsky Port and Coal Terminal located 35 kilometres to the north east of the Amaam North deposit and the proposed Project F mine.
 
The port is presently fully operational and under the terms of the sales agreement, the port will continue to ship up to 70,000 tonnes of coal annually for the nearby Nagornaya mine and volumes of general cargo.
 
The Beringovsky Port has historically handled over 700,000 tonnes of coal per year from the Nagornaya mine and the port will be progressively refurbished and expanded over time to at least 1 million tonnes per annum capacity.

The company will utilise its existing CAT mining fleet, which including a 70 tonne excavator, five 40 tonne trucks, two D10N bulldozers, a grader and other ancillary equipment.


Capital raising details

The company recently launched a 1 for 1 non‐renounceable rights issue to raise up to A$23.3 million.

Shares are priced at A$0.026 and the offer is underwritten by three of the company’s substantial shareholders.

The offer was successfully completed on 26 July, 2016.

The company raised A$15.43 million and will place the remaining balance of A$7.85 million to the underwriters pending appropriate approvals.

Proceeds raised under the offer will be used for but not limited to:

- Commencing Phase 1 of development and construction of Project F;
- General corporate purposes and working capital; and
- Undertaking of compliance works to ensure continued tenure of exploration and mining licences.


Analysis

The near term development of Phase One of Project F will be an important milestone and value catalyst for Tigers Realm as they look to become a significant supplier of coking coal.

Given the cost advantages, Project F has the potential to be one of the world’s lowest cost coking coal producers.

Thanks to a low stripping ratio compared to competitors, short overland transport, and company owned infrastructure, site operating costs are expected to be between US$39 and US$45 per tonne FOB.

With hard coking coal prices ranging between US$84 and US$117 per tonne, this project has significant opportunity to generate strong cash flows for Tigers Realm.

Project F will be a low strip ratio open cut mine with a short road link to company owned infrastructure and coal port.

The Project F coal products have suitable properties for nearby Asian markets. Positive characteristics include very low sulphur and phosphorus content.

The quality is similar to some well-known and utilised Queensland semi-hard coking coal produced from mines including Blackwater, Dawson, Cook and Poitrel.

One of the many advantages that Project F has is the substantial tonnage of low ash coal close to the surface that can be cheaply mined and sold unwashed.

This has enabled the company to pursue Phase One of the Project F development with a low capital investment.

This starter project will allow export sales of unwashed thermal and coking coal at a rate of up to 600,000 tonnes per annum.

While the company’s core focus currently is on Project F at Amaam North, the large scale coking coal deposit, Amaam, remains an important medium to long term value driver for Tigers Realm.

 

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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Wed, 10 Aug 2016 08:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165351/tigers-realm-coal-ltd-closing-in-on-low-cost-coking-coal-production-in-2016-70343.html
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