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JATCORP LIMITED — Capital/Financing Update 2014
May 27, 2014
65154_rns_2014-05-27_cab41cfb-50b9-48ef-853b-c7cfc2dedb11.pdf
Capital/Financing Update
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JATENERGY LIMITED ABN 31 122 826 242
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE Floor 6, Suite 8 55 Miller Street PYRMONT NSW 2009 AUSTRALIA
ASX ANNOUNCEMENT
28 May 2014
Jongkang Mine Investment Loan to Fund Mine Mobilisation
HIGHLIGHTS
CONTACT DETAILS
Telephone +61 2 9571 8300 Facsimile +61 2 9571 8200 Email [email protected] Web www.jatenergy.com
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Investment Loan for Jongkang mining site.
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Jongkang mine mobilisation proceeding in drier conditions.
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Earth works program developed to extract coal located in mine mapping borehole drilling.
The Directors of Jatenergy Limited (“Jatenergy”, “the Company”) are pleased to announce that it has negotiated a $100,000 Loan for the purpose of excavator and truck mobilisation on the Jongkang site.
Mine Mobilisation
Seasonally dry weather in Kalimantan has allowed operators at Jongkang to pump and drain the existing mine pit to access previously identified coal. Over the next four weeks excavators will be smoothing road access and removing overburden to excavate identified coal.
The loan 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.
At Jatenergy’s election it has the opportunity to convert the loan at 2 cents a Jatenergy share during the life of the Jongkang mine site. There is no interest payable on the loan.
Chris Flanagan Indonesian Manager said, “As coal prices have at least stabilised it has enabled us to restart exploitation with an economic stripping ratio. Due to its high calorific value and low ash and sulphur the coal has always found ready buyers wishing to either sweeten cargoes or export directly by barge to neighbouring countries.”
We continue to work with our local partner in further drilling the site to map out future opportunities in the area.
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]
About Jatenergy Directors Jatenergy Limited Tony Crimmins ABN 31 122 826 242 Jatenergy Limited is a Sydney‐based diversified Executive Chairman ASX code energy company operating in both Australia Mr Xipeng Li JAT and Asia. Jatenergy’s strategic focus is on Non‐Executive Director producing cash returns from its coal and Ordinary fully paid shares Jatropha assets as well as implementing the Mr Wilton Yao 103,565,568 proprietary Coal Plus technology for upgrading Non‐Executive Director low grade coal into high value energy products. Ian Gebbie Listed options Non‐Executive Director 31,898,547