DGAP-News: ICHOR Coal N.V.: Ichor Coal N.V. finishes acquisition of 30 per cent of Mbuyelo Coal (Pty) Ltd.
(firmenpresse) - DGAP-News: ICHOR Coal N.V. / Key word(s): Acquisition
ICHOR Coal N.V.: Ichor Coal N.V. finishes acquisition of 30 per cent
of Mbuyelo Coal (Pty) Ltd.
30.11.2012 / 16:19
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- The investment was financed by successful top-up of EUR 80 million
bonds
Berlin, 30 November 2012: Ichor Coal N.V., an internationally operating
mineral resource company announces the closure of the purchase of 30 per
cent of the shares from a capital increase of Mbuyelo Coal (Pty) Ltd., a
South African coal mining company. The financing of this transaction was
generated by the top-up of EUR 80 million bonds scheme issued by Ichor Coal
N.V. in June 2012 (EO-Conv. Bonds 2012/17, WKN A1G4Z1).
This investment will give IchorCoal access to nine different coal mines and
projects in South Africa. The transaction was initially structured via a
convertible bond issued by Mbuyelo Coal and subscribed by IchorCoal. With
the finalisation of a corporate restructuring and a positive assessment of
different expert opinions with regard to the validation and the evaluation
of the coal resources, Ichor Coal converted the bond into equity and
initiated a share capital increase. IchorCoal now owns a 30 per cent stake
of Mbuyelo Coal. Both main shareholders, Mbuyelo Group and IchorCoal, plan
to carry out further exploration and exploitation of the existing coal
resources. 'The investment is another cornerstone in the strategic
cooperation between IchorCoal and Mbuyelo Group' says Heinz Schernikau, CEO
of IchorCoal, 'On top of the one mine already producing we are expecting to
bring a further three out of the nine coal mines into production in 2013'.
About ICHOR COAL N.V.
ICHOR COAL N.V. is an internationally operating mineral resource company
specializing in investments in coal resources as well as in other projects
in the field of coal logistics and coal handling along with coal trading
via its marketing arm HMS Bergbau AG. The company is aiming to secure own
coal-resources, to gain control along the value chain and to sell the
produced coal on the international markets. In consideration of the global
rise in demand for coal, market chances are vast and entrepreneurial action
is essential and bears excellent prospects. The company is lead by its CEO
Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time
experience in the commodity sector.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected mining and associated costs, statements relating to estimates
of, and increases in, production, cash flows and values and other
statements which are not historical facts. When used in this document, the
words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may',
'potential', 'should' and similar expressions are forward-looking
statements. Although ICHOR believes that its expectations reflected in
these forward-looking statements are reasonable, such statements involve
risks and uncertainties and no assurance can be given that actual results
will be consistent with these forward-looking statements. Important factors
that could cause actual results to differ from these forward-looking
statements include the potential that the Company's projects will
experiencetechnological and mechanical problems, that geological
conditions in the reservoir may not result in commercial levels of oil and
gas production, that changes in product prices can have a material impact
and that ICHOR fails to raise sufficient capital to adequately fund its
activities.
Contact:
ICHOR COAL N.V.
An der Wuhlheide 232
12459 Berlin
Germany
phone: +49 30 65 66 81 60
fax: +49 30 65 66 81 15
email: info(at)ichorcaol.com
www.ichorcoal.com
NewMark Finanzkommunikation GmbH
Thomas Luber
Zum Laurenburger Hof 76
60594 Frankfurt
phone: +49 69 94418069
mobil: +49 171 8311216
email: Thomas.Luber(at)newmark.de
End of Corporate News
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30.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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195451 30.11.2012
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