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dlux

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Everything posted by dlux

  1. Australian firm begins mining for coal in Dar for power generation By DORITHY NDEKETELA Posted Saturday, September 3 2011 at 16:39 The Australian-based Intra Energy Corporation (IEC) has started coal mining in Mbalawala Mine, Ngaka coalfield in Tanzania targeting both the domestic and export thermal coal markets of Kenya, Mauritius and India. The Tanzania government awarded the firm a mining license in August that allows it to provide domestic coal in Tanzania for power generation and coal export starting before the end of 2012. Graeme Robertson, executive chairperson of IEC, said starting this month they will produce between 120 and 500 kilo tonnes of coal per annum, going for between $80 and $85 per tonne on the domestic market. The firm will also start producing 120 Megawatts of coal fired electric power with a target of 1,000MW by 2013. Mr. Robertson said that after 12-18 months, IEC plans to ramp-up coal production to as much as 3.5 metric tonnes per annum to support domestic power generation, in addition to industrial sales of 0.5 metric tonnes per annum. “The coal-fired powered stations could be constructed by IEC and a joint venture partner, or by the government, or third parties with a specific energy-intensive project,†he said. IEC said that until coal-fired power plants are constructed in the region, initial customers are likely to be East African industrial users such as cement manufacturers, who are currently using expensive imported coal or low-quality alternative products. “IEC understands that at least two contracts have been signed, though the details are considered confidential,†said Mr Robertson, adding that 1,000 tonnes of Seam Three bulk samples had been sent to Tanga Cement and Mbeya Cement for testing. William Ngeleja, Minister for Energy and Minerals said that a mining licence was granted on August 22 after receipt of an Environmental Impact Statement and that the mine site and port infrastructure is under construction. The Mbalawala Mine was officially opened to the community and local government on May 19. The IEC prefers to own and operate services that are critical to mining, as opposed to outsourcing, including establishment of business units such as mining, geology and tech services, catering, assaying and drilling. The strategy, according to IEC, is to set up an “integrated profit centre†that can boost the local economy and allow internal control of costs and scheduling. January Makamba, chairman of the Parliamentary Committee for Energy and Minerals, said investment in coal is a way to fight the power deficit in the country. “Countries like the US and UK were dependent on coal, which drove them to development. So coal will bring significant progress to rescue Tanzania from darkness,†he said. While Tanzania has a mineable reserve of 40-million tonnes of coal, about 250 000 tonnes of coal is imported from South Africa per year. Tanzania plans to spend $742 million by the end of next year for emergency power projects aimed at ending the chronic energy shortages.
  2. dlux

    DUO

    DUO DUOO are a big watch. Meeting on sep 7 to issue shares for more tenenments near DRM & not far from SRI & SFR. Eyes down.
  3. dlux

    CRC

    Back on the boards at a lower share price at a guess.
  4. IEC getting some attention . Intra Energy Corporation Limited (IEC) Spec Buy, TP$0.55 - Trent Allen Thermal coal heats up in Tanzania Summary Mining is imminent at IEC’s Ngaka Coal Project in Tanzania (IEC 70%), from which it plans to sell thermal coal to the domestic market. The mid-term strategy is to build and fuel power stations in Tanzania (Stage 2), and potentially export coal (Stage 3), for a combined 5mtpa. It holds earlier-stage coal projects in Tanzania, Laos and Vietnam. Key Points • Imminent production from Mbalawala Mine at Ngaka coalfield – 120ktpa and up to 500ktpa with second project (Songwe-Kiriwa). Mining Licence has been granted. • Plans for domestic coal supply in Tanzania (industrial and power generation) up to 3mtpa, and export to adjacent countries, combined 5mtpa. First mover advantage. • Potential to expand into electricity generation with near-mine power stations; 120MW capacity could be ready as early as 2013; target 1000MW. • Project pipeline: other coal fields in Tanzania, as well as Laos and Vietnam. • Strong management, including Graeme Robertson – former MD of New Hope Corporation, with vast experience in coal mining, infrastructure development. • Well backed and funded to start mining, with cash $25.4m at June 30, no debt. Option conversions at $0.25 in August 2011 could raise a further ~$7m. • NPAT $28.3m in FY2014, increasing to ~$50m/yr from FY2015 – current market cap is $68.7m. Investment View: Spec Buy, 12-month target $0.55/share Investing in IEC means backing Graeme Robertson, and his team’s proven ability to develop coal and infrastructure projects. A Mining Licence has been awarded, allowing IEC to fully launch its three-stage growth strategy: domestic coal supply in Tanzania, power generation, and coal export. Due to the recent upheaval on equity markets, IEC is undervalued and trading at $0.33-34/share. Buying at these levels means gaining leverage to a coal producer, run by a genuine large scale developer, at an explorer’s price tag
  5. cheers anroo. IEC is my biggest holding & have bought at many levels including the spp at 45c. There has been some ducks 'n' drakes trading of late with the option expiry & world wide market swings but the SP has firmed past few days. However from my observations of recent trading some sort of accumulation is taking place. Maybe it is the Robertson influence as I have heard he has a 'following' I will watch CCC & see how it goes.
  6. Seems as though Robertson(Mr Coal) is aiming high - this could see IEC be a big earner in the future. dx http://af.reuters.com/article/investingNew...ews&sp=true By Fumbuka Ng'wanakilala DAR ES SALAAM (Reuters) - Australia's Intra Energy Corporation (IEC) plans to invest $236 million in Tanzania's first privately funded coal mine and a coal-fired power plant to reduce nation's reliance on hydro power, its chairman told Reuters on Wednesday. IEC Executive Chairman Graeme Robertson said mining was expected to begin in the coming week, with the first consignment of coal expected in September. The mine was projected to expand its output to 500,000 tonnes a year by 2013 -- with a long-term maximum output capacity of 5 million tonnes a year, he said. IEC's local unit in east Africa's second largest economy, Tancoal Energy, had already spent $23 million on exploration and initial development costs of the Mbalawala mine, in the south-west of Tanzania, Robertson said. "This investment will increase by some $93 million (in order) to increase the mining to a rate of up to 5 million tonnes per year," Robertson said in an interview. "We are currently meeting compensation payments this week and will commence proper mining next week ... The first shipments of coal will commence in September." He said the company would invest an additional $120 million in a coal-fired power plant near the mine. "We have identified several possible sites for power stations near Mbalawala for 120 megawatts (MW) ... We are trying to fast-track this station with two 60MW units to be installed by end 2013," said Robertson. "The cost is approximately $1 million per MW or $120 million for the initial 120 MW at Mbalawala." Robertson said the company was also considering construction of a 400MW power plant in the southern Tanzanian town of Mbeya and another 400MW power station in the commercial capital, Dar es Salaam, between 2013/4 and 2017/8. CHRONIC POWER SHORTAGES The east African nation wants to spend $742 million by 2012 for emergency power projects aimed at ending chronic energy shortages, and intends to switch to thermal power sources such as coal. This would wean the country off weather-dependent hydro power, which accounts for 55 percent of its electricity generation. IEC owns 70 percent of the shares in Tancoal Energy, while the Tanzanian government holds the remaining stake through the state-run National Development Corporation (NDC). The first stage of the mine development targets initial production of 10,000 tonnes per month, rising to 30,000 tonnes per month in 2012 and stabilising at 500,000 tonnes annually, the year after. "The initial markets are (local) industrial markets such as Mbeya Cement and Tanga cement," said Robertson "Our combustion engineers have found strong interest from factories wanting to generate their own electricity with coal-fired generation because of the unreliability or lack of availability of electricity," he said. The Mbalawala mine is projected to substitute coal imports from South Africa and offset high costs associated with the shilling's depreciation, which has lost 9.8 percent this year. Tanzania imports 250,000 tonnes of coal per year from South Africa. The Tanzanian mine has a mineable reserve of 40 million tonnes of coal. "Our exports commence this year to Malawi and we believe it is our role to support neighbouring countries with exports to Mombasa, Kenya and possibly Mauritius," said Robertson.
  7. dlux

    TUC

    Quite so LCZEL will be good if TUC breaks & holds the 40c mark. Time will tell.
  8. dlux

    CRC

    CRC is a stock I bought months ago & have been lowering my sell price & keep missing out by a half cent.Bought at 20c. There has to be a problem with 'whatever' or else the price would be higher - funds to be raised are probably part of the equation, Management? Location?
  9. Been a big mover during the past several weeks but so what? I suppose all the money is on GOLD hahahaha Just in case somebody wants to know. This from Tony (media public relations) & is a reasonable overview of the AGM. What he did not mention is that Graeme Robertson has been looking for a vehicle to unleash his vision. Long way to go but ATQ could be BIG in 5 yrs or so.Incidentally I attended last year with 4 others & today there were around 30 present. Big potential for sales to India!!!!!!!!!!!!! dx Hi Atomic Watchers, Today's AGM marks the beginning of a new era for ATQ. With Graeme Robertson joining the board as Chairman, and with $5M cash in the bank, ATQ is metamorphosising from a junior explorer to a junior coal producer. We're fired up and cashed up - and it feels good. It was pleasing to see that shareholders outnumbered the board by at least 4 to 1 today. Also pleasing to see some of ATQ largest shareholders attend the meeting in person and lend their personal support to the incoming Chairman. There was no formal presentation by the MD, so no powerpoint slides to share, but the general comments by the incoming Chairman were that he expects ATQ to be producing unwashed coal, selling it to the local market and generating cashflows, early in 2011. That's great news for ATQ shareholders and great news for Tanzania.
  10. 25c to 38c in 3/4 trading days - must be mkt casino time if moves this big cannot get a mention apart from my waffle. This has always been an undervalued play now catching some attention. Go the 1c oppies ATQO.
  11. dlux

    TUC

    The substantial holder notice was posted yesterday but 'they' have been buying from 8c odd. Notice the sales on 17/21 june - only 400k odd on both days but accumulation has to start somewhere & the buy signal was early june. June is the best time for bargain hunters -apart from the pre xmas sales because people are desperate to sell!!
  12. dlux

    TUC

    TUC have $1.3m from todays ASX ann.
  13. dlux

    TUC

    More results due next week & with hits like the previous report it will be off to the races. The talk is $1 but of course it's only talk but certainly TUC could fly. SP certainly bounced from arround the 21c support. I hold & am in the Q to get more.
  14. plastic & panguna Well done with the buy low sell higher trades. Certainly gold was in overbought territory. Wonder where the support will be. I must say heaps of stocks in big uptrends - only a couple of mine - the others have heaps of potential & hopefully can move up before the next 'mkt çorrection.
  15. Fair dinkum - anyone in love with PYC should be locked up IN CHAINS!! Check out the chart - 81.5c less than 5 yrs ago down to 4.7 approx today & you are still saying it has to be PYC's turn - hope you have continued to ave down, having sold heaps into the 3.7c to 15c rally a while back - I gave up on PYC after the 30c placement all those years ago -sold the placement for a profit but gave it back holdig onto the shares until I finally sold around 15c. PYC may be 1 of several holdings but one must stop/cut losses sooner rather than watch the sky fall in!! Got Gold yet?
  16. dlux

    CRC

    This type of issue has happened a few times of late that I have noticed & I don't read may ann. AUJ for example. Read 708A(11).
  17. dlux

    PYM

    Management are of the more useless variety you could find. Last placement at 10c upcoming at 8c & look at the shareprice. Could it be much worse? Yes but not by much!!
  18. dlux

    TUC

    Management is very confident of 'some good hits' !! I hold. http://www.territoryuranium.com.au/articles-asx-reports-announcements/ Watch this space.
  19. dlux

    CRC

    Indeed thanks for the overview as I still hold from 20c & after some fluctuating prices CRC finally seems to be consolidating up from the 15/16c
  20. Hope all my avid followers got on ATQ big time all those months ago. Must be one of the better performing stocks this year - & the big ann yet to come!! Watch this space.
  21. dlux

    SOI

    MDRY Well really 1c should be the bottom unless sellers are desperate. I was bargin hunting. Forget soil-sub - (is that the web site to which you allude?) that is a non entity - look to the future.............
  22. dlux

    SOI

    MDRY I picked up another 900,000 mon morn before the 1c buyer got in the act. Still in the Q. New tax year & the pearl, or rather the piece of grit in this shell is taking shape.
  23. dlux

    SOI

    Hi MDRY - in your May 6 post you refer to a new director. Who may that be & I will make some enquiries as to any 'happenings'.
  24. dlux

    SOI

    Fair dinkum what comments - certainly some spilt milk over this debarcle. Well the debarcle relists on 27/04. I am in on the reissue. Surely no downside at the issue of 1c. Watch the open for a buy op.
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