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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Natasa Min | LSE:NSN | London | Ordinary Share | KYG6395A1004 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 31.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNSN
RNS Number : 0754Y
Natasa Mining Limited
24 February 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
24 February 2012
Natasa Mining Limited
("Natasa" or the "Company")
Alberta Coal Corporation Announcement
Natasa, the investment company with a focus on the mining finance industry notes the following press release made by its subsidiary, Alberta Coal Corporation:
"Alberta Coal Corporation to seek admission to Main Market of LSE
-- Alberta Coal Corporation ("ACC" or the "Company") announces its intention to list on Main Market of LSE
-- Seeking to raise GBP30m 777 million tonnes measured and indicated resource in compliance with N143-101 - a significant contiguous deposit of surface mineable coal in Western Canada
-- Plans to use funds to execute the Fox Creek Project development programme
ACC, a thermal coal exploration and development company, with assets in Alberta, Canada, is seeking to raise GBP30 million and to be admitted to trading on the Main Market of the London Stock Exchange with ticker "ALB", via a Standard Listing (the "IPO").
Strand Hanson Limited has been appointed the financial advisers to the IPO and HD Capital Partners LLP and GMP Securities Europe LLP have been appointed joint brokers and joint bookrunners to the Company.
Overview of the Business
Fox Creek Coal Project
The Fox Creek Coal Project constitutes six coal leases, covering an area of 22,688 ha, which are held through the Company's wholly owned subsidiary, Fox Creek Coal Inc. The leases grant to the holder the exclusive right to win, work and recover coal from the leased area.
Historically, extensive drilling over more than 21,000m has been completed over the lease area by previous operators including Shell and Esso, which has enabled a sub-bituminous C coal resource of approximately 777 million measured and indicated tonnes (using the CIM mineral resource classifications), to be defined within the Fox Creek Coal Project, comprised of:
Sub-bituminous C '000 Tonnes Resources as of 23 January 2012 Measured 431,073 Indicated 345,898 ------------ Total Measured and Indicated 776,971 ------------ Inferred 92,617
Source: Expert's Report prepared in connection with the proposed IPO
Funds raised will be applied to further investigate and develop the Fox Creek Coal Project, with the intention of progressing a bankable feasibility study on the project, planned to be delivered within 24 months of the IPO, and to provide additional general working capital for the Company.
Specifically, the Group currently intends to apply its financial resources to fund the following key activities in its development programme for the next two years, subject to the receipt of applicable governmental approvals:
-- drilling; -- metallurgical studies; -- an environmental impact assessment study; and -- production of a bankable feasibility study.
There are a number of possible longer term development opportunities available to the Company, each of which will be examined more closely as part of the feasibility study.
Corporate Development
In addition, the Board may give consideration to other attractive investment opportunities in the mining/natural resources sector, with an emphasis on coal, should such opportunities be deemed to have the potential to enhance value for Shareholders.
The Company is chaired by Chris Kyriakou, who has overseen a number of mines from exploration through to project finance and commissioning, and who has extensive mining experience in Australia, Canada, Africa and Mexico. ACC's chief executive is John Hogg, who was previously chief executive of Canada's Western Coal Inc, where he was directly responsible for bringing a number of coal mines into production.
Chris Kyriakou, chairman of Alberta Coal, commented: "We are confident that the experienced management team that we have assembled, combined with the highly attractive project fundamentals of location and infrastructure render this project an extremely exciting one for investors and we look forward to bringing it to market."
This announcement is an advertisement and not a prospectus and not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction including in or into the United States, Canada, Australia, or Japan. Investors should not subscribe for or purchase any transferable securities referred to in this announcement except on the basis of information in the prospectus (the "Prospectus") to be published by the Company in due course in connection with the admission ("Admission") of its ordinary shares (the "Ordinary Shares") to the standard listing segment of the Official List of the Financial Services Authority and to trading on London Stock Exchange plc's (the "London Stock Exchange") main market for listed securities. Copies of the Prospectus will, following publication, be available from the Company's London office and on www.albertacoal.com
Enquiries:
Alberta Coal Corporation Chrisilios Kyriakou +44 (0) 20 7290 3102 HD Capital Partners LLP Joint Broker Philip Haydn-Slater/Paul Dudley +44 (0)20 3551 4871/2 GMP Securities Europe LLP Joint Broker Simon Catt/Andrew Young +44 (0)20 7647 8450/2804 Strand Hanson Limited Financial Adviser Angela Peace/James Spinney +44 (0) 20 7409 3494 Tavistock Communications Jos Simson/Mike Bartlett +44 (0) 20 7920 3150
ENDS"
Enquiries:
Natasa Mining Ltd Chrisilios Kyriakou, Executive Chairman www.natasamining.com +44 (0) 20 7290 3102 Strand Hanson Limited Financial Adviser Angela Peace/James Spinney +44 (0) 20 7409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
END
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