DGAP-News: ICHOR Coal N.V.: IchorCoal increases its participation in Mbuyelo Coal
(firmenpresse) - DGAP-News: ICHOR Coal N.V. / Key word(s): Acquisition
ICHOR Coal N.V.: IchorCoal increases its participation in Mbuyelo Coal
06.09.2013 / 13:59
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IchorCoal increases its participation in Mbuyelo Coal
- Stake will rise from 40.16 to 45.16 percent
- Investment secures more coal resources
Berlin, 6 September 2013: IchorCoal N.V., an internationally operating
mineral resource company, has again increased its share in its South
African participation Mbuyelo Coal. Through the recent share purchase,
IchorCoal raises its stake by 5.0 percent from the current 40.16 percent to
45.16 percent. This increase, the third since IchorCoal purchased a 30.0
percent share in November 2012, must still be approved by the South African
Reserve Bank.
Mbuyelo Coal is part of the Mbuyelo Group, the exclusive partner of
IchorCoal in South Africa. It holds an attractive basket of assets with a
balanced mix of projects in the exploration, feasibility and production
phase located in the Mpumalanga coal fields in South Africa. Its most
promising coal project is the Eloff mine which has a resource base of
around 500 million tons of steam coal, of which 225 million tons will now
be attributable to IchorCoal.
Since initially investing in November 2012, IchorCoal raised its stake for
the first time in May 2013 from 30.0 to 37.64 percent. The raise was
achieved by a share capital increase in Mbuyelo Coal, signed exclusively by
IchorCoal. In June 2013, IchorCoal purchased further 2.52 percent in
Mbuyelo Coal from minority shareholders. After receipt of all authoritative
approvals the transaction was completed by the end of August. To finance
its successive increases - as well as the revamping of the underground mine
of IchorCoal's other main participation in South Africa, Vunene Mining - in
June IchorCoal first placed EUR 25 million from as much as EUR 40 million
corporate bonds and then in August raised its capital by EUR 20 million. As
before, the partners agreed not to disclose the purchase price.
'We see this increase again as an opportunity to further strengthen the
relationship between Mbuyelo Group and our company', says Heinz Schernikau,
CEO of IchorCoal. 'And of course it represents a very interesting
investment for our shareholders as well as for our bondholders.'
The Management Board
About IchorCoal N.V.
IchorCoal 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 its
own coal-resources, to gain control along the value chain and to sell the
coal produced on the international markets. In consideration of the global
rise in demand for coal, market opportunities are vast and entrepreneurial
action is essential and bears excellent prospects. The company is managed
by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both bring their
long-standing 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 IchorCoal 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 possibilities that the Company's projects will
experience technological 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 IchorCoal fails to raise sufficient capital to adequately fund its
activities.
Contact:
IchorCoal N.V.
An der Wuhlheide 232, 12459 Berlin
Phon: +49 30 65 66 81 60
FAX: +49 30 65 66 81 15
info(at)ichorcoal.com
www.ichorcoal.com
Thomas Luber
NewMark Finanzkommunikation
Zum Laurenburger Hof 76, 60594 Frankfurt
Phon: +49 69 94418069
mobil: +49 171 8311216
Thomas.luber(at)newmark.de
End of Corporate News
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229433 06.09.2013
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Datum: 06.09.2013 - 13:59 Uhr
Sprache: Deutsch
News-ID 294184
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