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Prairie Min Share Discussion Threads
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|18 April 2017
PRAIRIE MINING LIMITED
NEWS RELEASE | 18 April 2017
ADDITIONAL FUNDING FROM CORNERSTONE INVESTOR TO ACCELERATE PRAIRIE'S TIER ONE PREMIUM COAL PROJECTS
-- CD Capital to continue its support of Prairie through a further investment of A$2.0m in the form of non-redeemable, non-interest bearing Convertible Loan Notes
-- Investment follows the recent successful placement by Prairie of A$5.2m to high quality UK based institutional investors
-- Subject to Shareholder approval, the Notes issued will satisfy CD Capital's investment mandate, and will be exchangeable for ordinary shares of Prairie at A$0.46 (28 pence) per share representing the same price of the recently completed successful placement of ordinary shares to UK institutional investors
-- Proceeds from CD Capital's investment in addition to the Institutional Placement will enable Prairie to accelerate the development of its Debiensko Hard Coking Coal Project and advance pre-construction engineering works at its Jan Karski Mine
-- Notes will be issued by way of a private placement by PDZ Holdings Pty Ltd - a wholly owned subsidiary of Prairie which indirectly holds the Company's Tier One Coking Coal Projects
-- Based on the current share capital, conversion of all of CD Capital's Notes would result in CD Capital maintaining approximately a 23% shareholding in Prairie, and the additional exercise of CD Capital's options would increase CD Capital's holding by a further 7%
Prairie Mining Limited ("Prairie" or "Company") is pleased to announce that it has agreed terms for further investment from its cornerstone investor CD Capital Natural Resources Fund III LP ("CD Capital") subject to shareholder approval and completion of final formal documentation. The investment will take the form of a private placement by PDZ Holdings Pty Ltd ("PDZ Holdings") (a wholly-owned subsidiary of Prairie which indirectly holds the Jan Karski Mine ("Jan Karski") and the Debiensko Hard Coking Coal Project ("Debiensko")) of non-redeemable, non-interest bearing convertible loan notes ("Notes") for an aggregate principal amount of A$2.0 million. The Notes can be exchanged into ordinary shares of the Company at A$0.46 per share representing the price of the recent successful placing of ordinary shares to high quality UK institutional investors completed in April 2017 ("Institutional Placement").
The proceeds from CD Capital's investment, combined with the net proceeds from the Institutional Placement, will enable Prairie to further accelerate the development of its Debiensko Hard Coking Coal Project and advance pre-construction engineering works at its Jan Karski Mine.
Prairie and CD Capital will continue working together in partnership to de-risk and enhance the significant value of Prairie's world class coking coal assets as they progress rapidly through the next stages of project development.
Prairie's CEO Ben Stoikovich commented: "Following on from our recent successful placing to a number of high quality UK based institutional investors, CD Capital's increased investment in Prairie reaffirms the global significance of our Tier One coking coal assets in Poland. We are delighted with the continued support from our cornerstone investor who shares Prairie's vision to become Europe's next strategic coking coal supplier."
CD Capital's Founder & CIO Carmel Daniele said: "We are excited about the ongoing material achievements in the development of Prairie's world class coking coal projects. We look forward to continuing to work in partnership with Prairie's experienced management team as Prairie continues to develop Jan Karski and Debiensko into two of the lowest cost coking coal mines in the heart of Europe's steel industry."
ABOUT CD CAPITAL
CD Capital is an established and UK FCA registered fund manager with a specific focus on the mining sector. The strong experienced team of CD Capital currently manages three private equity investment funds with assets under management of over US$600 million. This investment is the first by the group's newest fund - CD Capital Natural Resources Fund III LP. As evident from the quality of this investment, CD Capital continues to achieve its mandate of partnering with leading mining entrepreneurs and strongly-aligned management teams to build world class mining projects from the highest quality pipeline.|
|Doesn't take much to move the price on this one|
|Good article on PDZ in today's Shares mag.|
|Good move LG.|
|Would indeed be good to see institutions buying at 35p - like what I had to do this morning. I've got some extra shares, but missed the best price. Decided to bite the bullet and not wait for next year's ISA.|
|...Yes. As the RNS points out, they were limited in how much stock they could place. So if the instis want more they'll have to stump up in the market - just like we have to.|
|someuwin, agree. Good to see it is UK institutions picking these up.
May create more awareness here, hope they buy in the market also|
|Up over 11% on the Warsaw exchange now.
I guess they have a better feel for how big these Polish projects are.|
|Can't buy many online|
|Yup - great to get UK insti support. Together with the previously anounced Chinese support for their Jan Karski mine.
Either one of their two coking coal projects is worth more than the current price imo.
"..Prairie Mining and China Coal, the second largest coal mining company in China and one of the world's most advanced and prolific shaft sinking and total underground coal mine construction companies, have signed a landmark Strategic Co-operation Agreement to advance the financing and construction of Prairie's Jan Karski Mine in Poland.
Under the terms of the agreement, China Coal and Prairie intend to complete a Bankable Feasibility Study by mid-2017, which will provide the basis for an EPC contract and a construction-funding package for the Jan Karski Mine.
-- China Coal No.5 Construction Company Ltd. ("CC5C") and Prairie intend to enter into a full "wrap-around" Engineering, Procurement, Construction ("EPC") contract which will see CC5C construct the Jan Karski Mine ("JKM" or "Project") and procure a debt financing package to fund the development of the JKM
-- CC5C and Prairie, together with the Chinese Government's authorised mine design institute, intend to complete a Bankable Feasibility Study by mid-2017 which will form the basis for Chinese bank credit approval
-- A senior delegation from CC5C recently conducted a site visit to the JKM that included meetings with regional officials and potential Polish sub-contractors and suppliers
-- Prairie will work with a range of Polish mining and engineering specialists, alongside CC5C, to ensure all design and construction conforms to Polish regulations and safety standards
-- Prairie's and CC5C's Strategic Co-operation Agreement demonstrates the increasing economic collaboration between Poland and China following China's proposed "One Belt, One Road" development strategy and highlights Poland's importance as a "One Belt Economy" for accessing key European markets
-- CC5C has been serving the mining industry for 40 years and accounts for 40% of the Chinese market share for coal mine construction, having completed 340 projects in China and overseas including sinking more than 300 major shafts. This agreement fits with CC5C's strategy of increasing its international presence as a major project contractor
-- As the leading underground mining contractor in China, CC5C holds unparalleled expertise in disciplines central to development of the JKM including, shaft sinking, drilling, freezing and overall mine development and installation
-- CC5C's parent company China Coal, is the second largest coal producer in China with total assets of US$50bn and 110,000 employees across 53 subsidiaries. In 2015, China Coal produced 166Mt of coal across 46 open pit and underground coal mines"|
|I have bought in today. Looks very good especially with inst support|
|PLACING TO UK BASED INSTITUTIONAL INVESTORS TO RAISE GBP3.2 MILLION FOR THE FURTHER DEVELOPMENT OF PRAIRIE'S POLISH COAL PROJECTS
Prairie Mining Limited ("Prairie" or the "Company") is pleased to announce that it has placed 11,500,000 new ordinary shares in the capital of the Company (the "Placing Shares") at a price of 28 pence per share (the "Placing Price"), to raise approximately GBP3.2 million before expenses (the "Placing").
Commenting on the Placing, Prairie Mining Chief Executive Officer, Ben Stoikovich said: "We are delighted to welcome a number of high quality new UK based institutional investors onto the Company's shareholder register as both projects move into a new chapter of their development. Strong support from these institutional investors further validates Prairie's vision to become Europe's next strategic coking coal supplier through the advancement of our two Tier 1 coking coal projects in Poland."
The net proceeds from the Placing, which is in response to demand for the Company's shares from UK based institutional investors, will be used for the further development of the Company's Polish coal development projects. In particular, the Placing will enable Prairie to accelerate the development of its Debiensko Hard Coking Coal project for which the results of a positive scoping study were recently announced, including additional drilling in support of Feasibility Study work. In parallel, Prairie is also on track to complete a Bankable Feasibility Study in the second half of 2017 for its Jan Karski Mine, for which the proceeds of the Placing will be partly applied to advance pre-construction engineering works such as the provision of high voltage power supply to the mine site area, and the permitting processes.
Together with the Company's existing cash resources (A$13.1 million as at 31 December 2016), the proceeds of the Placing will help ensure that Prairie retains a strong balance sheet position as it approaches a construction decision for Jan Karski and rapidly advances Debiensko.|
|Maybe Trump's policy (anti-global warming & pro-coal) is helping sentiment here.|
|The offer has moved up by a couple of pence, but the bid hasn't budged. I was rather hoping that these would stay flat for just another week until the start of the new ISA year so that I could add a few more at sub 33p. Looks like they could cost me a bit more.|
|Up 5.5% on Warsaw exchange.|
|This is the time to be buying - before the next news.|
|Presentation available now.
|RNS Number : 2629A
Prairie Mining Limited
23 March 2017
PRAIRIE MINING LIMITED
NEWS RELEASE | 23 MARCH 2017 | ASX/LSE/WSE: PDZ
DEBIENSKO SCOPING STUDY PRESENTATION
Prairie Mining Limited is pleased to advise that an updated Company presentation is available for download on the Company's website:
|Options at todays equivalent of 31p, 37p, and 50p, and represent less than 1% of shares in issue.
Paying fees with shares often suggests money is tight, but cash in hand at the end of December was stated as $13m.|
|You may be right. I live in hope!|
|Chinese will buy this outright £1 per share imho dyor|