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JATCORP LIMITED — Capital/Financing Update 2012
Dec 12, 2012
65154_rns_2012-12-12_788074bf-c4f8-45bc-9a20-0b98689c46d1.pdf
Capital/Financing Update
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JATENERGY LIMITED
ASX ANNOUNCEMENT
12 December 2012
ABN 31 122 826 242
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE
Floor 6, Suite 8 55 Miller Street PYRMONT NSW 2009 AUSTRALIA
CONTACT DETAILS
Telephone +61 2 9571 8300 Facsimile +61 2 9571 8200 Email [email protected] Web www.jatenergy.com
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COAL PRODUCTION UPDATE
Highlights
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Ongoing operations at Jongkang II coal mine in Indonesia.
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5000 metric tonnes of coal stockpiled.
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Jongkang I coal mine scheduled to recommence operations.
Jatenergy Limited (ASX code JAT) is pleased to provide the following updates on its operating Jongkang I and II coal mines in Indonesia.
The Jongkang II mine, shown below, is currently operating with one bulldozer, one ripper, two excavators (one large and one small) and six 10-wheel dump trucks for hauling coal.
There is currently an estimated 3000 tonnes of coal stockpiled at the nearby jetty. A 5000 tonne shipment of coal is scheduled for 15 December 2012.
The coal market for this quality of coal has remained firm and the Indonesian benchmark price has shown an increase this month. Given this welcome development, operations at the Jongkang I mine are expected to recommence in January 2013.
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Update on Queensland coal assets
Following a protracted due diligence process, Jatenergy has decided not to proceed with acquiring any Queensland coal exploration permits or permit applications from Spinifex Rural Management Pty Limited ( Spinifex ).
On 20 June 2011, Jatenergy and Spinifex entered into a Tenements Purchase Agreement and a Royalty Deed for the purchase of coal exploration permits and permit applications in the Galilee and Bowen Basins, in exchange for cash and Jatenergy shares. The ownership transfers envisioned under these agreements were not executed and no payment of cash or shares has been made by Jatenergy to Spinifex. Following mutual agreement between Jatenergy and Spinifex, the two agreements have been terminated.
Media and management contact
Tony Crimmins 02 95718300 [email protected]
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About Jatenergy
Jatenergy Limited is a Sydney-based diversified energy company operating in both Australia and Asia. Jatenergy’s strategic focus is on producing cash returns from its coal and jatropha assets as well as implementing the proprietary Coal Plus technology for upgrading low grade coal into high value energy products.
Directors Tony Crimmins Executive Chairman
Richard Pritchard Non-Executive Director
Mr Xipeng Li Non-Executive Director Mr Wilton Yao Alternate Director
Jatenergy Limited ABN 31 122 826 242
ASX code JAT
Ordinary fully paid shares 98,565,568
Listed options 31,898,547