DGAP-News: ICHOR Coal N.V. / Key word(s): Development of Sales/Agreement ICHOR Coal N.V.: IchorCoal delivers Coal to Asia 10.12.2013 / 09:05
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IchorCoal delivers Coal to Asia - First seagoing vessel will be shipped to Asia - IchorCoal's Vunene Mining now one of the few South African junior miners to deliver overseas - 'Similar deals will follow' Berlin, 10 December 2013: IchorCoal N.V., an internationally operating mineral resource company, has sold via Vunene Mining (Pty) Ltd, its main participation in South Africa, its first cargo of coal, produced out of its Mpumalanga coal mine, directly to an Asian customer. Vunene was assisted by HMS Bergbau Africa, a subsidiary under the IchorCoal group. The contract covers initially one vessel of steam coal which will be delivered in December from the Richards Bay Coal Terminal (RBCT), the single largest export coal terminal in the world. The cargo will be shipped to an Asian customer and will be used for power generation there. With this sale, Vunene Mining is one of the few junior miners in South Africa selling its coal on the international coal market via its Quattro allocation at RBCT, controlling the entire supply chain from pit to port. The Quattro scheme was designed by the South African government to enable post-Apartheid black economic empowerment companies to access the international coal market. Very few junior miners to date have actually delivered their own coal to end users overseas and most of the South African export coal changes hands in Europe and Singapore. Vunene Mining produces coal at its Mpumalanga coal mine in the Ermelo region. IchorCoal transformed the company successfully from a small coal pit to a fully functional mining company. With the opening of new opencast sections, production increased significantly from 90,000 tons per month in 2012 to 180,000 tons in September 2013. Following the start of underground mining in 2014, underground production is slated to reach up to 350,000 tons per month within the following years. 'This success shows that IchorCoal is able to handle even large international deals and that it can take over every single step along the value chain of coal trade', says Heinz Schernikau, the CEO of IchorCoal. 'Similar deals will follow. IchorCoal's trading arm HMS Bergbau was initiating this transaction and will secure the trading operations.' The Management Board About IchorCoal N.V. IchorCoal N.V. is an internationally operating mineral-resource-company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure its own coal resources, to gain control along the value chain and to sell the produced coal on the international markets. Considering the global rise in demand for coal, market opportunities are vast and entrepreneurial action is essential and offers excellent prospects. The company is led by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both contribute their long standing experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: IchorCoal N.V. An der Wuhlheide 232, 12459 Berlin Phon: +49 30 65 66 81 60 FAX: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76, 60594 Frankfurt Phon: +49 69 94418069 mobil: +49 171 8311216 Thomas.luber@newmark.de End of Corporate News
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10.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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243979 10.12.2013
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IchorCoal delivers Coal to Asia - First seagoing vessel will be shipped to Asia - IchorCoal's Vunene Mining now one of the few South African junior miners to deliver overseas - 'Similar deals will follow' Berlin, 10 December 2013: IchorCoal N.V., an internationally operating mineral resource company, has sold via Vunene Mining (Pty) Ltd, its main participation in South Africa, its first cargo of coal, produced out of its Mpumalanga coal mine, directly to an Asian customer. Vunene was assisted by HMS Bergbau Africa, a subsidiary under the IchorCoal group. The contract covers initially one vessel of steam coal which will be delivered in December from the Richards Bay Coal Terminal (RBCT), the single largest export coal terminal in the world. The cargo will be shipped to an Asian customer and will be used for power generation there. With this sale, Vunene Mining is one of the few junior miners in South Africa selling its coal on the international coal market via its Quattro allocation at RBCT, controlling the entire supply chain from pit to port. The Quattro scheme was designed by the South African government to enable post-Apartheid black economic empowerment companies to access the international coal market. Very few junior miners to date have actually delivered their own coal to end users overseas and most of the South African export coal changes hands in Europe and Singapore. Vunene Mining produces coal at its Mpumalanga coal mine in the Ermelo region. IchorCoal transformed the company successfully from a small coal pit to a fully functional mining company. With the opening of new opencast sections, production increased significantly from 90,000 tons per month in 2012 to 180,000 tons in September 2013. Following the start of underground mining in 2014, underground production is slated to reach up to 350,000 tons per month within the following years. 'This success shows that IchorCoal is able to handle even large international deals and that it can take over every single step along the value chain of coal trade', says Heinz Schernikau, the CEO of IchorCoal. 'Similar deals will follow. IchorCoal's trading arm HMS Bergbau was initiating this transaction and will secure the trading operations.' The Management Board About IchorCoal N.V. IchorCoal N.V. is an internationally operating mineral-resource-company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure its own coal resources, to gain control along the value chain and to sell the produced coal on the international markets. Considering the global rise in demand for coal, market opportunities are vast and entrepreneurial action is essential and offers excellent prospects. The company is led by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both contribute their long standing experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although IchorCoal believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that IchorCoal fails to raise sufficient capital to adequately fund its activities. Contact: IchorCoal N.V. An der Wuhlheide 232, 12459 Berlin Phon: +49 30 65 66 81 60 FAX: +49 30 65 66 81 15 info@ichorcoal.com www.ichorcoal.com Thomas Luber NewMark Finanzkommunikation Zum Laurenburger Hof 76, 60594 Frankfurt Phon: +49 69 94418069 mobil: +49 171 8311216 Thomas.luber@newmark.de End of Corporate News
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10.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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243979 10.12.2013
