Bandanna Energy Limited holds 16 Exploration Permits for Coal (EPC’s) in the Bowen and Galilee basins in Queensland where more than 1,600 million tonnes of JORC compliant net coal resource has been delineated. Formerly known as Enterprise Energy Limited, in early October 2008 the Company completed a transaction involving the acquisition of the issued share capital of Bandanna Coal Pty Ltd. Since that time the Bandanna has grown to now hold one of the largest thermal coal inventories for any exploration company in Australia and to become an ASX 300 Company. The allocation of 4 Mtpa in Stage 1 of the Wiggins Island Coal Export Terminal development now sees Bandanna on a clear pathway to ship significant coal from approximately mid 2014. This is a major milestone for the Company as it moves from an explorer through to a coal producer.
The name Bandanna originates from the Bandanna Formation, which is a well known coal bearing geological unit within the Bowen Basin.
Key projects of the Company include
South Galilee Project (formerly Alpha Project) area (EPCs 1048, 1049, 1179 and 1180) where the international coal company AMCI has earned a 50% interest following farmin. Refer South Galilee Project Website
The Springsure Creek Project (EPC 891) where the Company is undertaking studies of a potential large underground raw thermal coal resource which subject to port availability may support multiple long wall mine development.
The Dingo West Project (EPC 881) a potential open cut thermal/PCI project which may be fast tracked as a satellite pit development close to the existing Blackwater to Gladstone rail corridor.
The Arcturus Project (EPC 1221) where the Company is undertaking studies in order to delineate a potential thermal coal resource which could be developed in conjunction with the Springsure Creek Project.
From an investor viewpoint Bandanna, with exposure to two distinct infra-structure scenarios, one in the Galilee Basin and the other in the Bowen Basin, is uniquely positioned amongst ASX listed coal exploration/development companies to undergo significant growth in the coming years. Bandanna is the only ASX listed company with significant coal development plans in the Galilee Basin.
The Board, Chaired by Jeremy Barlow, is committed to making Bandanna a strong mid-tier player within the coal and energy sectors of the ASX.
The ASX code is:
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