Doesn't look like GUJ holders will get any of these!!!India NRE...

Doesn't look like GUJ holders will get any of these!!!


India NRE is focussed on the development of the NRE No. 1 Colliery in the Southern Coalfields of New South Wales after acquiring the Colliery in December 2004.

The Colliery has produced significant quantities of high quality hard coking coal for the domestic and export market for a period in excess of 100 years. India NRE plans to develop the Colliery into a leading supplier of coking coal into the export market.

Gujarat NRE Coke Limited (GNCL), India’s largest merchant coke producer, is presently purchasing 100% of unwashed ROM coal produced by the Company and is also providing management and technical support to the Company.
Offer Overview

Offer India NRE Minerals Llimited
Issue Price $0.50 per share
Minimum Investment $2,000
Amount Sought $15,000,000
Expected Close Date 22nd June 2007
Expected List Date 4th July 2007


GNCL will continue to be the major shareholder (93%) of India NRE following listing. Mr Arun Jagatramka is the Vice Chairman and Managing Director of GNCL Limited and will stay on as the Chairman of India NRE Limited. Under his leadership, the production capacity of GNCL has expanded ten times in the last ten years to make it the largest non-captive metallurgical coke manufacturer in India as well as the first Indian company to own and operate coal mines in Australia.

GNCL has the vision to be the world's premier commodity company by delivering superior quality products, employing the best of technology and most competitive family of workers. GNCL is listed on India’s National and Bombay Stock Exchanges and has a shareholder base of more than 100,000.

The premium hard coking coal market is currently benefiting from a number of positive trends, including increasing demand from the Asian region and limited availability of coking coal on the market.

The Directors believe that the Company is ideally placed to develop a world-class coking coal mine at the NRE No. 1 Colliery and together with the availability of the regional infrastructure and the support of the local community to establish a company which will deliver strong returns to all stakeholders for the long term. The fact that India NRE will have a ready customer in GNCL augurs well for the entity and the Eco-financial implications need no elucidation.

The Board brings together financial, legal and industry expertise from both within and outside Australia. The management of India NRE have strong experience in the mining industry and have extensive experience in the Southern Coalfields of New South Wales.

Substantial, high quality assets

Quality Coking Coal Assets - India NRE owns and operates the NRE No.1 Colliery which is a proven hard coking coal mine, with a resource in excess of 300 million tonnes.
Historical Coal Mining Location - The Colliery is located in an established coal mining region and had been in operation for over 100 years. Its coking coal is well known to global trading houses and carries a reputation for consistent high quality and low ash content.
Significant Historical Production - Historically, the mine has produced up to approximately 3 million tonnes per annum of coking coal using a combination of longwall and bord and pillar mining methods. The mine has recently recommenced development mining and is producing coking coal using bord and pillar mining.
Established Infrastructure - The Colliery has excellent access to road, port, water and power infrastructure. Port Kembla export facilities do not suffer from the level of congestion seen at other coal export terminals along the Australian coast.
Pure Play - Focused exposure on hard coking coal.
Secure, long term relationship with Gujarat NRE Coke Limited

Guaranteed off-take - GNCL has committed to a life of mine offtake agreement on normal commercial terms based on annual benchmark prices.
Significant Investment by Gujarat NRE Coke Limited - GNCL has invested funds in excess of $90 million in the Colliery since its acquisition in December 2004.
Long term commitment from Gujarat NRE Coke - GNCL has committed to a voluntary escrow of 100% of its shares in India NRE for a period of two years.
Continued Support - The Company will continue to receive technical, management and marking support from GNCL.
Indian exposure

India NRE provides investors the opportunity to have indirect exposure to the fast growing Indian economy and steel sector through the strategic relationship with GNCL.