|Are we still a take over target or are we going the distance alone ? A minimum 40 percent upside if CoAL is still circling around or perhaps a direct take over by one of the Asian country's?|
|Production has now commenced at the Kanagla mine!!
First delivery of coal will commence in March 2014.|
|unv share on australian maket is being halted again today for strategic funding arrangement.|
|Universal could be looking for strategic partner in SA
By: Esmarie Swanepoel
23rd January 2012
PERTH (miningweekly.com) - South Africa-focused coal developer Universal Coal on Monday reported that it could possibly start a search for a strategic investor to assist in developing its coking coal projects.
ASX-listed Universal said in a statement that it was expecting increased interest in its coal assets, and following a number of informal approaches and discussions from groups within the steel sector, the company was pondering the appointment of a specialist adviser to assist in securing a partner.
The coal developer noted, however, that it had not received a formal statement or offer from any party regarding its coal assets, adding that it was continuing discussions with various equity investors and industrial groups in the steel and power generation sectors.
Universal was aiming to become a midtier coal producer by 2015, as three of its thermal coal projects in Mpumalanga are set to start production in 2014, and the first two of its coking coal projects in Limpopo were expected to come on line in 2015.
The developer pointed out that its Berenice-Cygnus coking coal project, which had a gross resource of some 1.3-billion tons, was already attracting investor interest.
The project is situated in the emerging Soutpansberg coalfield, near the Mozambique and Zimbabwe borders, and is located 30 km from a railway siding linked to both Maputo and Richards Bay ports.
A second phase of drilling at Berenice-Cygnus was scheduled to start in early 2012.
Miningweekly.com report today|
|Universal Coal responds to media speculation regarding strategic investors:
"The company expects increasing interest in these assets, and as a result, and following a number of informal approaches and discussions from groups within the steel sector, Universal may appoint specialist advisors to assist in securing a strategic investor for the coking and thermal coal assets."
"The company said in December that the Berenice-Cygnus project, in particular, with a gross in situ resource of 1.3Bt declared from the first phase of drilling, was already attracting interest."|
THE MARKET HAS NOT WOKEN UP TO UNV's COKING COAL POTENTIAL
|new broker report:
"Our sum-of-parts valuation for UNV has increased 10.5% from $0.76 to $0.84 chiefly from the increased resources in the coking coal assets which out-weighed the reduction in peer group EV/t multiples."
|Yes, likewise I still have a few from SCR days - and some Albidon shares too, which are also now on the Australian stock market - just hope the Halifax will one day extend their international tading to include Australia - really could do without the hassel of having to set up with another broker just for these few shares - mind - one hopes they could do really well, then another broker would be worth the bother.|
|Any chance of this re-listing on AIM?
I'm still holding a few from SCR days.|
|Looks like a lot of coal zooshare, 800 million tonnes.
Full Universal Coal profile here
Universal Coal to update resource at Berenice-Cygnus project, exploration target of 700-800m tonnes
5:08 am Universal Coal plc (ASX: UNV) has completed resource drilling at Berenice-Cygnus Coking Coal project in South Africa, with indications of an appreciable tonnage that could be amenable to open pit mining.
The drilling of 38 holes has confirmed that the geological structure is a half-graben.
Universal is now focussing on finalising the resource update with an exploration target of 700-800 million tonnes for the project.
The Brakfontein Thermal Coal project drilling has also been finalised and both drilling campaigns have been completed on time and within budget.
A total of 51 slim diameter and 8 large diameter diamond drill holes confirmed the presence of a 35 metres 40 metres thick composite coal zone deposit within a structurally controlled half-graben structure, about 12.5 kilometres in length and 4 kilometres wide.
The coal zone has been intersected from sub-outcrop, less than 20 metres in depth, up to 250m below surface and consists of inter bedded bright coal and carbonaceous mudstones.
At least three consistently developed sub-zones, containing between 40% and 50% coal, occur towards the base of the coal zone. The three distinct coal-rich sub-zones have thickness's that vary between 1.91m - 5.37m (Zone A), 1.73m-5.92m (Zone B) and 0.5m-1.75m (Zone C), respectively.
Washability test results have been received for the first 20 slim diameter drill holes, with the remainder of the results expected by early July.
The results of these tests show that at wash densities of less than 1.40g/cm3 the coking coal typically exhibits Free Swelling Indices (an indicator of coking tendencies) of 7 to 9.
There are Roga Indices (an indicator of caking properties) ranging from 70 to 90, volatile matter contents of between 33% and 36%, inherent moisture contents of between 0.94% and 2.76%, ash contents of between 8.59% and 14.88%, sulphur contents of between 0.7% and 1.22% and phosphorous contents of between 0.007% and 0.07%.
Free Swelling Indices of between 6 and 2 are also observed for the coal washed between the 1. 450 g/cm3 and 1.70 g/cm3 density fractions.
The eight large diameter drill holes are being sampled for specialised coking coal test-work and analysis. This test work will determine additional coking characteristics and ultimately the type of coking coal present.
A geological model and updated JORC compliant resource estimate targeted at between 700-800 million tonnes is on schedule and expected to be completed by mid-July.
At the Brakfontein thermal coal project the current phase of diamond drilling has been finalised with a total of 38 additional holes completed during this resource definition phase.
A Resource update is expected in August and thereafter a Feasibility Study is likely to be commissioned on the project and a mining licence application will be submitted.|
|just coverted all my shares from scr (UCL) frozen for a long time to UNV CDIs on AUS market. At least they are part of my portfolio and will be able to trade them, once they 4x current price to get my losses...what an investment. still, it looks like the co is doing well and there is an excellent market for coking coal...and why are they still delisted on lse?
btw, my broker TDW did the conversion, cost £100 + vat. glad to see it now in my portfolio....
sp was twice the current only few months ago and took some hammering like most of small/aim stocks. so at least it will get to that much given the demand for coking coal.
|Story seems to be getting better and better - I'm still holding from SCR days.
Thanks for the regular updates Kayaks|
|700-800 million tonnes!
HOME > COMPANIES > COMPANY RELEASES COMPANY RELEASES
Assays confirm coking at Universal's Berenice
Tuesday , 29 Mar 2011
The Board of Directors of Universal Coal plc ("Universal Coal" or "Company") is pleased to provide an update on its Coking Coal Projects:
The first phase drilling at the Berenice Project and the newly acquired Cygnus Project is progressing well. Four drill rigs are currently operational, undertaking a 46 diamond drillhole programme, scheduled for completion in June 2011.
To date, 24 slim diameter (HQ size) holes have been completed The drilling continues to confirm the presence of a 35m-40m thick coal zone from sub-outcrop (less than 20m depth) up to 200m below surface. The coal zone consists of inter-bedded bright coal and carbonaceous mudstone with a number of coal-rich horizons containing between 40% and 50% coal.
Washability test results have been received for the first nine holes with the following results:
At least three consistently developed coal-rich horizons are present with seam widths of 0.5m-1.75m, 2.5m-3.5m and 4.0m-4.5m respectively.
At wash densities of less than 1.45 g/cm3, these seams contain hard coking coal properties, including Free Swelling Indices (an indicator of coking tendency) of 7 to 9. The Roga Indices (an indicator of caking properties) and volatile matter contents are similarly high, ranging from 80 to 90, and 32% to 35%, respectively. The coal has low inherent moisture content (0.9%-2.0%), an ash content of 8%-13% and moderate sulphur content (0.9%-1.2%).
Semi-soft coking properties are also evidenced in the higher density fractions with Free Swelling Indices of between 6 and 2 being observed at densities of between 1.50 g/cm3 and 1.70 g/cm3.
The coal qualities are extracted from the results obtained to date and may not be representative of the potential resource as a whole.
The Company has now commenced with the large diameter (LD) diamond drilling to produce samples for specialised coking coal test work (including Ultimate, Ash composition, Petrographic, and coking coal tests including dilatation Gieseler Fluidity and Gray-King) to further understand the coking characteristics and ultimately the type of coking coal present.
Also, importantly the Department of Mineral Resources has approved the cession (Section 11) of the Berenice-Somerville Prospecting right to the joint venture company Universal Coal Development 2 (Pty) Ltd.
Commenting on the continued drilling at Berenice and Cygnus, Chairman Dr Tony Harwood said: "We are delighted and encouraged with the initial results confirming the presence of coking coal at the Berenice and Cygnus projects. We will continue to focus on increasing our coking coal resources with an Exploration Target of 700-800 million tonnes* for these two projects".
*The Exploration Target and potential coal quantity is conceptual in nature and takes cognisance of the thicknesses, laboratory-determined relative densities and the projected surface extent of the coal-rich horizons in the Berenice- Cygnus project area as observed during the current drilling programme. There has been insufficient exploration to define a Coal Resource and it is uncertain if further exploration will result in the determination of a Coal Resource.
COMPETENT PERSONS STATEMENT
The information in this update that relates to exploration results for the Berenice and Cygnus Projects, is based on information reviewed and compiled by Mr Jaco Malan, who is a registered natural scientist and a member of the South African Council for Natural Scientific Professions. Mr Malan is employed by Universal Coal plc and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Coal Resources and Ore Reserves. Mr Malan consents to the inclusion in this report of this information in the form and context in which it appears.|
|A summary of all the major stories on the Australian Stock Exchange
December 2010 IPOs with Universal Coal up 92%
Friday, March 04, 2011 by John Phillips. Proactive Investors Australia are here to provide a performance review three months in.
Universal Coal (ASX: UNV)
IPO Offer: $0.26
Current price: $0.50
Price change: 92% increase
Universal Coal (ASX: UNV) is an emerging near-term thermal coal production and development company with assets in South Africa. In January BGF Equities placed a $1.00 target on the company.|
|Kayaks, many thanks for your speedy and helpful message.
|benson384, I got this email from Dan Robinson at UNV after I contacted him regarding this matter. This is his email address, hope it helps.
With regard to your comments below and those of your broker, I can confirm that there is no reason why your shares may not be converted to CDI's which trade on the ASX. Your broker is correct in saying that this is not an automatic process, although it is also not a complicated or time consuming one.
In order to convert your shareholding into ASX traded CDI's, I would ask that yourself or your broker contact John Gorski at Computershare in the UK who will be able to assist you. John is copied on this email and can also be contacted on +44 (0) 870 703 0027.
Australian Office South African Office
Level 2, 28 Kings Park Road, West Perth WA 6005 467 Fehrsen Street, Brooklyn 0182, Pretoria
Tel: +61 8 6267 0210 | Fax: +61 8 9481 1840 Tel: +27 12 460 0805 | Fax: +27 12 460 2417
|Anyone help me ? I received a letter from my broker, September 2010, saying that after a subdivison I now hold 14,000 shares of Ordinary 0.05p in UCL,(original holding was SCR). Do you need to transfer to Australian UNV register or just sell them in Australia as UCL ?
Thanks in anticpation.|
|Going back a few posts, are you quite sure Selftrade can't/won't trade UCL/UNV? They are showing up in my SIPP with Selfrade with a tradeable sign next to them.|
Thanks for the alert to the January presentation. Most interesting, especially for shares (originally SCR) that I thought were dead :}
|See UNV website for new presentation listed below.
(PDF - 2.45MB)|
|yep, depends if you really meant 9000 UCL or 9000 SCR which went 10 to 1 then x2 (so you'd end up with 1800 UCL/UNV)|