Thanks Chao88,
I was just looking again to try to work out why price seems to not only have advanced since the Euroz Hartleys Conference, but also to be holding strong on no news
How long are the shares escrowed please?
Re BCB/MACA background:26/10/20
[Bluff Sales Process Binding Agreement]also :
https://www.nsenergybusiness.com/news/bowen-coking-coal-bluff-coal-mine/Then the sale was completed in mid January;
17/01/22
[MLD Market Announcement] includes:
“Bluff sales process update
MACA advises that the transaction to divest the Bluff Mine has now completed. MACA has received the release of the $4.6m environmental bond, $4.75m of fully paid ordinary shares in Bowen Coking Coal Limited, $0.25m cash and holds three royalties on mine production which apply at varying PCI prices. ..”
NB that the sales agreement includes royalties as well, that look to me to be worth at least $10M a year ($12 royalty per tonne up ton$10M then $10 per tonne uncapped)
—BCB announced first sales contracts in February in line with the going price (
“Ultra-Low Volatile PCI (Platts symbol MCLVA00) traded at US$ 312.50/t on 10February 2022” ….…
“…First coal is expected to be mined late this quarter followed by a steady ramp up of coal production over the next 3 –6 months to annualised levels of 1Mtpa to 1.2Mtpa1run of mine(ROM)”.)
[ref]That January update also reminds
.. “The process for realising value from the remaining asset of Carabella, the Grosvenor West hard coking coal project, is ongoing. MACA will update the market as the sales proceeds..”
…. Maybe
that is the ‘secret’ recent buyers have been expecting news on?
But would that be more of of a one off bonus than an up trend set up?
Thanks again Chao88 … I had better revisit Carabella unless someone out there has some quick details??
cheers