Coalspur Mines Limited - December 2012 Quarterly Report
PERTH, Western Australia, Jan. 31, 2013 /CNW/ - Coalspur Mines Limited ("Coalspur" or "Company") (ASX: CPL, TSX: CPT) is pleased to present its quarterly report for the three months ending 31 December 2012.
- The Company secured a US$300 million senior debt commitment (the " Facility") from EIG Global Energy partners (" EIG").
- Proceeds from the Facility will fund the majority of the development capital required to achieve first production at the Vista Coal Project (" Vista")
- The Facility is expected to be executed and effective by the end of the quarter ending 31 March 2013
- Securing this funding helps maintain the timeline for Vista where construction is scheduled to commence in 2013 with first production in 2015
- The Company completed an optimisation study (the " Study") on Vista. Highlights of the Study include:
- Development capital to achieve first production reduced to C$527 million ( C$343 million lower than the Vista Feasibility Study)
- Through utilising mining contractors development capital can be reduced by further C$82 million, to approximately C$445 million
- Coalspur agreed to binding key terms for a definitive commercial transportation agreement (the " Agreement") with CN Rail.
- Key terms of the Agreement include rates, term and escalation
- The Agreement provides Coalspur with up to 12.0 Mtpa of rail allocation and is structured to reflect the production profile of Vista
- Subsequent to quarter end, the Company announced that its largest shareholder, the Highland Park Group (" Highland Park") had exercised its option to purchase additional ordinary shares in the Company.
- Highland Park exercised 12,724,669 options at an exercise price of A$0.70 per option, and now owns 153,840,202 ordinary shares which represents approximately 24.3% of the ordinary shares currently outstanding in the Company
- Holders of a further 669,333 options with an exercise price of A$0.70 per option also exercised their options to acquire further shares
- Total funds raised from the exercise of options was A$9,375,801
- The Company advised that it will change its financial year end from 30 June to 31 December, commencing December 31, 2012.
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
