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JATCORP LIMITED — Capital/Financing Update 2014
Feb 19, 2014
65154_rns_2014-02-19_e8eb76cc-f2cd-4e90-8ea0-74ddb7e1cf76.pdf
Capital/Financing Update
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JATENERGY LIMITED ABN 31 122 826 242
ASX ANNOUNCEMENT
20 January 2014
ASX CODE: JAT
AUSTRALIAN REGISTERED OFFICE
Floor 6, Suite 8 55 Miller Street PYRMONT NSW 2009 AUSTRALIA
Jongkang Mine to be Opened
Update on Katingan
CONTACT DETAILS
Telephone +61 2 9571 8300 Facsimile +61 2 9571 8200 Email [email protected] Web www.jatenergy.com
HIGHLIGHTS
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Jongkang mine to be opened after heavy weather in East Kalimantan.
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Katingan Sale expired opportunity for other third party interest.
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The directors of Jatenergy Limited (“Jatenergy”, “the Company”) are pleased to announce that the Jongkang mine site is ready for coal mining with the abatement of the strong wet weather conditions.
Weather Improved for Mine Opening
In November 2013, Jatenergy announced it had received a profit share investment from Chapmans Limited for the Jongkang mine opportunity. Heavy monsoon rains in the Jongkang area have delayed re‐opening of the old mine and the establishment of the new pit at Wijaya Mulia. November, December and January are known as the peak of the wet season in eastern Kalimantan. Chris Flanagan Indonesian Manager said “this year the rain conditions made opening the mine pointless. We would have been opening the mine and then having to drain it continuously and at cost. We decided to wait till the rains ceased to proceed with production from this site.” In the meantime our local partner has carried out further drilling to assist in planning the mine excavation.
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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Coal Soil Brik Katingan Asset
Discussions with PT Prakarsa Corporindo had indicated that they wished to proceed. However no response has been received to the proposal they requested from Jatenergy. The Board of Jatenergy will now open the sale of the Coal Soil Brik to third parties to expedite a sale. Tony Crimmins CEO says, “We understand now that there is a Power Station bid in Katingan area that requires a source of coal to ensure supply for the power station. This makes the site more attractive as it will have a potential buyer in the area”. Jatenergy seek any expression of interest in this site.
The project is located 160 km northwest of the city of Palangkaraya in the South Kalimantan Province on the island of Borneo.
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Location of the Coal Soil Brik Project, Borneo, Indonesia.
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