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JATCORP LIMITED — Capital/Financing Update 2014
Jun 3, 2014
65154_rns_2014-06-03_2806669a-cc04-48d3-aa68-75d22cae8a9c.pdf
Capital/Financing Update
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JATENERGY LIMITED ABN 31 122 826 242
ASX CODE: JAT
ASX ANNOUNCEMENT
4 June 2014
Update on Jongkang Mine Mobilisation
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
HIGHLIGHTS
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Excavators on site to access located coal from borehole drilling.
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Additional information on loan to provide extra capital for mine mobilisation.
Excavators on Site
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Excavators have arrived and have started on the Jongkang site. Initially the road will be levelled to provide better and safer access to the mine site. Work will begin on coal previously located and marked for excavation. “Having only 1 metre of overburden to remove, this is easy access coal, allowing us to provide immediate product to barge” says Chris Flanagan COO Indonesia. Using the opportunity of seasonally dry weather, Jatenergy with its local partner are able to start immediately on the mine site.
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Tractor levelling the roads.
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Tractor smoothing 1.2km of mining road from concrete road to mine.
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Removing water from mine pit continuously.
Loan for Mobilisation
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For clarification the loan is from a Jatenergy substantial shareholder (Adam Hajek), it provides Jatenergy with extra capital to rework the Jongkang mine site. It is a profit share arrangement earning 50% of Jatenergy’s residual share of the profit from the mine, for the life of the mine. There is no interest payable on the loan and the only return to Mr Hajek is his share of the profit for the remaining life of the mine. Repayment of the loan either in full or part does not affect the profit share distribution. At Jatenergy’s sole discretion the loan can be repaid through the issue of Jatenergy fully paid ordinary shares at an issue price of 2 cents.
Jatenergy can elect to repay the loan at any time in part or in full during the life of the operation of the mine. The profitability of the mine, will be determined by Jatenergy in its sole discretion.
Jongkang Project Overview
The Jongkang I and Jongkang II projects are currently in production and produced around 35,000 tonnes over the past year and were developed in December 2011 as part of a Joint Venture arrangement with a local Indonesian partner. Located in East Kalimantan approximately 5 km along an existing haul road from the Mahakam River, and about 25 km from a major hub of Indonesia’s coal industry at Samarinda, each concession is covered by a production license comprising 100 hectares.
‐ For more Information on the Jongkang project, please visit: http://jatenergy.com/jongkang projects/
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----- Start of picture text ----- CV Wijaya Mulia“Jongkang I”CV Karya PutraBersama“Jongkang II”----- End of picture text -----
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About Jatenergy
Jatenergy (ASX: JAT) is an ASX listed energy investment company, focused on conventional, second generation and energy conversion technologies. Jatenergy also acquires projects and technologies, and creates value through its extensive marketing and promotion activities.
Media and Management Contact
Tony Crimmins +61 2 9571 8300 [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
Mr Xipeng Li Non‐Executive Director
Mr Wilton Yao Non‐Executive Director
Ian Gebbie Non‐Executive Director
Jatenergy Limited ABN 31 122 826 242
ASX code JAT
Ordinary fully paid shares 103,565,568
Listed options 31,898,547