TIDMNSN
RNS Number : 0754Y
Natasa Mining Limited
24 February 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR
INDIRECTLY IN WHOLE OR IN PART IN OR INTO THE UNITED STATES,
CANADA, AUSTRALIA OR JAPAN OR ANY JURISDICTION IN WHICH THE SAME
WOULD BE UNLAWFUL.
24 February 2012
Natasa Mining Limited
("Natasa" or the "Company")
Alberta Coal Corporation Announcement
Natasa, the investment company with a focus on the mining
finance industry notes the following press release made by its
subsidiary, Alberta Coal Corporation:
"Alberta Coal Corporation to seek admission to Main Market of
LSE
-- Alberta Coal Corporation ("ACC" or the "Company") announces
its intention to list on Main Market of LSE
-- Seeking to raise GBP30m 777 million tonnes measured and
indicated resource in compliance with N143-101 - a significant
contiguous deposit of surface mineable coal in Western Canada
-- Plans to use funds to execute the Fox Creek Project development programme
ACC, a thermal coal exploration and development company, with
assets in Alberta, Canada, is seeking to raise GBP30 million and to
be admitted to trading on the Main Market of the London Stock
Exchange with ticker "ALB", via a Standard Listing (the "IPO").
Strand Hanson Limited has been appointed the financial advisers
to the IPO and HD Capital Partners LLP and GMP Securities Europe
LLP have been appointed joint brokers and joint bookrunners to the
Company.
Overview of the Business
Fox Creek Coal Project
The Fox Creek Coal Project constitutes six coal leases, covering
an area of 22,688 ha, which are held through the Company's wholly
owned subsidiary, Fox Creek Coal Inc. The leases grant to the
holder the exclusive right to win, work and recover coal from the
leased area.
Historically, extensive drilling over more than 21,000m has been
completed over the lease area by previous operators including Shell
and Esso, which has enabled a sub-bituminous C coal resource of
approximately 777 million measured and indicated tonnes (using the
CIM mineral resource classifications), to be defined within the Fox
Creek Coal Project, comprised of:
Sub-bituminous C '000 Tonnes
Resources as of 23 January 2012
Measured 431,073
Indicated 345,898
------------
Total Measured and Indicated 776,971
------------
Inferred 92,617
Source: Expert's Report prepared in connection with the proposed
IPO
Funds raised will be applied to further investigate and develop
the Fox Creek Coal Project, with the intention of progressing a
bankable feasibility study on the project, planned to be delivered
within 24 months of the IPO, and to provide additional general
working capital for the Company.
Specifically, the Group currently intends to apply its financial
resources to fund the following key activities in its development
programme for the next two years, subject to the receipt of
applicable governmental approvals:
-- drilling;
-- metallurgical studies;
-- an environmental impact assessment study; and
-- production of a bankable feasibility study.
There are a number of possible longer term development
opportunities available to the Company, each of which will be
examined more closely as part of the feasibility study.
Corporate Development
In addition, the Board may give consideration to other
attractive investment opportunities in the mining/natural resources
sector, with an emphasis on coal, should such opportunities be
deemed to have the potential to enhance value for Shareholders.
The Company is chaired by Chris Kyriakou, who has overseen a
number of mines from exploration through to project finance and
commissioning, and who has extensive mining experience in
Australia, Canada, Africa and Mexico. ACC's chief executive is John
Hogg, who was previously chief executive of Canada's Western Coal
Inc, where he was directly responsible for bringing a number of
coal mines into production.
Chris Kyriakou, chairman of Alberta Coal, commented: "We are
confident that the experienced management team that we have
assembled, combined with the highly attractive project fundamentals
of location and infrastructure render this project an extremely
exciting one for investors and we look forward to bringing it to
market."
This announcement is an advertisement and not a prospectus and
not an offer for sale, or a solicitation of an offer to acquire,
securities in any jurisdiction including in or into the United
States, Canada, Australia, or Japan. Investors should not subscribe
for or purchase any transferable securities referred to in this
announcement except on the basis of information in the prospectus
(the "Prospectus") to be published by the Company in due course in
connection with the admission ("Admission") of its ordinary shares
(the "Ordinary Shares") to the standard listing segment of the
Official List of the Financial Services Authority and to trading on
London Stock Exchange plc's (the "London Stock Exchange") main
market for listed securities. Copies of the Prospectus will,
following publication, be available from the Company's London
office and on www.albertacoal.com
Enquiries:
Alberta Coal Corporation
Chrisilios Kyriakou +44 (0) 20 7290 3102
HD Capital Partners LLP
Joint Broker
Philip Haydn-Slater/Paul Dudley +44 (0)20 3551 4871/2
GMP Securities Europe LLP
Joint Broker
Simon Catt/Andrew Young +44 (0)20 7647 8450/2804
Strand Hanson Limited
Financial Adviser
Angela Peace/James Spinney +44 (0) 20 7409 3494
Tavistock Communications
Jos Simson/Mike Bartlett +44 (0) 20 7920 3150
ENDS"
Enquiries:
Natasa Mining Ltd
Chrisilios Kyriakou, Executive
Chairman
www.natasamining.com +44 (0) 20 7290 3102
Strand Hanson Limited
Financial Adviser
Angela Peace/James Spinney +44 (0) 20 7409 3494
This information is provided by RNS
The company news service from the London Stock Exchange
END
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