Conrad Anderson’s Post

Shaw and Partners is pleased to be appointed as a Joint Lead Manager to a capital raising by Bowen Coking Coal Ltd. The Company is raising approximately A$70 million comprising 2.66 for 1 pro rata renounceable entitlement offer with 1 free attaching new option for every 2 New Securities subscribed for to raise approximately A$70 million before costs (“Entitlement Offer”). The Entitlement Offer is partially underwritten by the Joint Lead Managers up to $40.5 million. New securities issued under the Offer will be issued at $0.009 per share. The Offer Price reflects a 25.0% discount to the last traded price on 13 September 2024 of A$0.012 and 8.3% discount to TERP of A$0.0098. Proceeds from the entitlement offer will provide Bowen with balance sheet flexibility to fund the Plumtree North mine development costs at the Company’s Burton Mine Complex, pre-payments, guarantees and general working capital. Bowen Coking Coal Limited has established a strategic position in Queensland’s Bowen Basin. The Company’s Burton Mine Complex (90% owned) near Moranbah encompasses multiple operations with the Ellensfield South, Plumtree North and Broadmeadow East Mines serving a co-located Coal Handling and Preparation Plant and train load out facility connected by a dedicated haul road. Additionally, Bowen fully owns the Bluff PCI Mine near Blackwater (in care and maintenance) and holds the Isaac River (100%), Hillalong (85%) Cooroorah (100%), Carborough (100%) and Comet Ridge (100%) coking coal projects and is a joint venture partner in Lilyvale (15% interest) and Mackenzie (5% interest) with Stanmore Resources Limited. The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://lnkd.in/gzavA3ek and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document.

Shaw and Partners is pleased to be appointed as a Joint Lead Manager to a capital raising by Bowen Coking Coal Ltd.     The Company is raising approximately A$70 million comprising 2.66 for 1 pro rata renounceable entitlement offer with 1 free attaching new option for every 2 New Securities subscribed for to raise approximately A$70 million before costs (“Entitlement Offer”). The Entitlement Offer is partially underwritten by the Joint Lead Managers up to $40.5 million.   New securities issued under the Offer will be issued at $0.009 per share. The Offer Price reflects a 25.0% discount to the last traded price on 13 September 2024 of A$0.012 and 8.3% discount to TERP of A$0.0098.   Proceeds from the entitlement offer will provide Bowen with balance sheet flexibility to fund the Plumtree North mine development costs at the Company’s Burton Mine Complex, pre-payments, guarantees and general working capital.   Bowen Coking Coal Limited has established a strategic position in Queensland’s Bowen Basin. The Company’s Burton Mine Complex (90% owned) near Moranbah encompasses multiple operations with the Ellensfield South, Plumtree North and Broadmeadow East Mines serving a co-located Coal Handling and Preparation Plant and train load out facility connected by a dedicated haul road. Additionally, Bowen fully owns the Bluff PCI Mine near Blackwater (in care and maintenance) and holds the Isaac River (100%), Hillalong (85%) Cooroorah (100%), Carborough (100%) and Comet Ridge (100%) coking coal projects and is a joint venture partner in Lilyvale (15% interest) and Mackenzie (5% interest) with Stanmore Resources Limited.   The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://lnkd.in/gzavA3ek and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document.

Shaw and Partners is pleased to be appointed as a Joint Lead Manager to a capital raising by Bowen Coking Coal Ltd. The Company is raising approximately A$70 million comprising 2.66 for 1 pro rata renounceable entitlement offer with 1 free attaching new option for every 2 New Securities subscribed for to raise approximately A$70 million before costs (“Entitlement Offer”). The Entitlement Offer is partially underwritten by the Joint Lead Managers up to $40.5 million. New securities issued under the Offer will be issued at $0.009 per share. The Offer Price reflects a 25.0% discount to the last traded price on 13 September 2024 of A$0.012 and 8.3% discount to TERP of A$0.0098. Proceeds from the entitlement offer will provide Bowen with balance sheet flexibility to fund the Plumtree North mine development costs at the Company’s Burton Mine Complex, pre-payments, guarantees and general working capital. Bowen Coking Coal Limited has established a strategic position in Queensland’s Bowen Basin. The Company’s Burton Mine Complex (90% owned) near Moranbah encompasses multiple operations with the Ellensfield South, Plumtree North and Broadmeadow East Mines serving a co-located Coal Handling and Preparation Plant and train load out facility connected by a dedicated haul road. Additionally, Bowen fully owns the Bluff PCI Mine near Blackwater (in care and maintenance) and holds the Isaac River (100%), Hillalong (85%) Cooroorah (100%), Carborough (100%) and Comet Ridge (100%) coking coal projects and is a joint venture partner in Lilyvale (15% interest) and Mackenzie (5% interest) with Stanmore Resources Limited. The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://lnkd.in/gzavA3ek and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document.

Canadian coal explorer Valory Resources Inc. is on the hunt for $20 million ahead of a float late this year. Street Talk understands the miner was in the market on Wednesday, seeking to raise up to $20 million via a convertible note. Sources said major European coal investor Crocodile Capital has signed up to cornerstone the raise. The firm also backs several large Australian coal companies, including Whitehaven Coal, Stanmore Resources and Bowen Coking Coal. Valory’s 24-month term note was priced at $1 per security and converts at a 30 per cent discount to any future capital raising. The majority of the proceeds will be used to acquire an advanced, underground hard-coking coal project dubbed Mine 14. Valory Resources operates out of Alberta Canada. It has ambitions to become a leading supplier of premium coal to steelmakers, and is touting its coal as delivering comparable quality levels to BHP or Anglo America. Shaw and Partners is the sole lead manager on the raise and was calling for bids by 5pm on Wednesday. Valory president Brian MacDonald, who was head of AMCI Australia, is understood to be leading the effort from the company side. Valory is targeting an ASX listing in the fourth quarter of 2024, for which it is likely to tap Shaw and Partners. Street Talk understands investment bank Jefferies has also produced a valuation piece for the company. Article source: AFR, 26 June 2024 https://lnkd.in/gqfE79Ed

Shaw and Partners is pleased to be appointed as a Joint Lead Manager to a capital raising by Bowen Coking Coal Ltd. (ASX: BCB) The Company is raising approximately A$70mln comprising 2.66 for 1 pro-rata renounceable entitlement offer with 1 free attaching new option for every 2 New Securities subscribed for to raise approximately A$70 million before costs (“Entitlement Offer”). The Entitlement Offer is partially underwritten by the Joint Lead Managers up to $40.5 million. New securities issued under the Offer will be issued at $0.009 per share. The Offer Price reflects a 25.0% discount to the last traded price on 13 September 2024 of A$0.012 and 8.3% discount to TERP of A$0.0098. Proceeds from the entitlement offer will provide Bowen with balance sheet flexibility to fund the Plumtree North mine development costs at the Company’s Burton Mine Complex, pre-payments, guarantees and general working capital. Bowen Coking Coal Limited has established a strategic position in Queensland’s Bowen Basin. The Company’s Burton Mine Complex (90% owned) near Moranbah encompasses multiple operations with the Ellensfield South, Plumtree North and Broadmeadow East Mines serving a co-located Coal Handling and Preparation Plant and train load out facility connected by a dedicated haul road. Additionally, Bowen fully owns the Bluff PCI Mine near Blackwater (in care and maintenance) and holds the Isaac River (100%), Hillalong (85%) Cooroorah (100%), Carborough (100%) and Comet Ridge (100%) coking coal projects and is a joint venture partner in Lilyvale (15% interest) and Mackenzie (5% interest) with Stanmore Resources Limited. The issuer of the securities is Bowen Coking Coal Limited. Offers of the securities will be made in (or accompanied by) a copy of the Prospectus, available at https://lnkd.in/gzavA3ek and you should consider the disclosure document carefully before deciding whether to acquire the securities. To acquire securities under the offer investors will need to complete an application process detailed in the disclosure document. #steel #mining #resources #capraise

Anglo's $3.8 Billion #Coal Asset Sale: A Game Changer for Australian Emissions Peabody Energy's recent acquisition of Anglo American's #metallurgical coal assets, including key Queensland #mines, is set to reshape the future of coal production in the region. This move places #Peabody among the largest coal producers in #Queensland, Australia, but it also brings the challenge of managing high emissions from these mines. Key highlights from Andrew's analysis ⤵ 🔹 Peabody’s Shift: Peabody will transform from a thermal/PCI coal miner into a major coking coal producer, boosting its capacity to 20 million tonnes of coking coal per year by 2026. 🔹 Environmental Focus: The mines, with significant methane emissions, had a strong sustainability track record under Anglo’s leadership. Peabody must continue this legacy, with a focus on methane abatement and emissions reduction. 🔹 Key Stakeholders: Peabody's US-based shareholders, including major asset managers like BlackRock and Vanguard, will need to align priorities with the Queensland government to meet emissions targets and ensure sustainable mining practices. 🔹 The Road Ahead: Peabody faces significant challenges, including the costly restart of the Grosvenor mine and the need for long-term emissions mitigation strategies. The Queensland Government's involvement will be crucial in shaping a sustainable path forward. 🔵 Read the full commentary to dive deeper into the complexities of this acquisition ⤵ https://lnkd.in/g6F4XxhA #EnergyTransition #Coal #MetCoal #PeabodyEnergy #EmissionsReduction #Queensland #EnergyPolicy #CoalProduction #CoalMines

Peabody Energy Corp will acquire three of Anglo American’s met coal assets in a transaction valued at up to US$3.32 billion. Peabody will acquire an 88% equity interest in both Moranbah North and Grosvenor mines, and a 70% equity share in Aquila-Capcoal complex. Peabody expects its seaborne met coal output in 2026 will rank third behind Glencore and BHP, which have also both seen major changes to their respective met coal portfolios from M&A this year. Glencore acquired Canadian met coal business EVR from Teck in July 2024, and BHP-Mitsubishi Alliance (BMA) sold two of its met coal mines to Whitehaven in April. In their respective post-M&A forms, attributable saleable production from Glencore’s met coal unit was 36.4Mt in the twelve months to 30 September 2024, slightly higher than BMA’s 100% basis met coal output of 35.8Mt in the same period. Saleable met coal output from Whitehaven’s QLD (ex-BMA) assets was 15.1Mt in the same period. Attributable output from the Anglo American assets Peabody will acquire was 9.9Mt in the same period, which, combined with 6.5Mt from Peabody’s existing met coal business represents a pro forma Peabody portfolio of 16.4Mt. #coal #coalmining #energy #markets #economics #peabody #angloamerican

Australia's decision to expand three coal mines underscores coal’s importance. Whitehaven’s Narrabri mine will operate until 2044, while Mount Pleasant and Ravensworth are approved until 2048. At FutureCoal, we see this as evidence that coal remains critical to Australia’s economy security, providing vital long term jobs and export revenues. By embracing our Sustainable Coal Stewardship blueprint, Australia can lead by example, showing that coal can contribute to a diverse energy mix in the region while promoting economic prosperity and environmentally responsible business practices in mining. https://lnkd.in/eJKuBDXd #Australia #coal #mining #coalmining

Canada’s decision to ban thermal coal exports no later than 2030 is reflected in the tiny thermal coal project pipeline. The only significant thermal coal investment is Coalspur Mines' Vista Expansion, aiming to boost capacity by 7 Mtpa. Despite Canadian authorities' 2021 statements against new projects, this one is undergoing an impact assessment. In contrast, the coking coal segment is bustling with activity. Projects under consideration add up to about 28 Mtpa, though many are in the early stages. Notably, the long-mothballed Quintette mine (3 Mtpa) has been acquired by Conuma Resources from Teck Resources, with plans to restart in 2024. Despite the shift away from thermal coal, investment in Westshore Terminals in British Columbia has surged. This terminal is crucial as new ones in Washington State and Oregon were rejected over environmental concerns, making Westshore the primary route to Asian markets via the Pacific Northwest. Thermal coal exports here nearly doubled from 9.6 Mt in 2020 to 17.6 Mt in 2023. The global M&A trend is evident in Canada. Glencore has acquired a 77% stake in Elk Valley from Teck Resources for USD 6.9 billion. Additionally, Bathurst Resources has successfully acquired the assets of the 0.75 Mtpa Tenas coking coal project from Telkwa Coal. These developments highlight the dynamic landscape of Canada's coal industry, balancing growth with sustainability goals. #CoalIndustry #Sustainability #Canada #Mining #Investments #EnergyTransition

This whole energy transition is going to need a heck of a lot of #copper. @Teck Resources achieves record copper output as QB mine project continues to ramp up. #energytransition https://lnkd.in/gRSzZnVW