Key Developments: Coalspur Mines Ltd (CSPZF.PK)
0.29USD
18 Jun 2013
$0.01 (+3.90%)
$0.28
$0.29
$0.29
$0.29
20,000
72,791
$1.07
$0.22
Latest Key Developments (Source: Significant Developments)
Coalspur Mines Ltd Exercises Options Into New Ordinary Shares
Coalspur Mines Ltd announced the issuance of 5,500,000 ordinary shares (2,750,000 shares at AUD 0.10 each; and 2,750,000 shares at AUD 0.15 each) pursuant to the exercise of options. Full Article
Coalspur Mines Ltd Announces Senior Debt Facility From EIG Global Energy Partners
Coalspur Mines Ltd announced that it has entered into binding agreements with EIG Global Energy Partners (EIG) to provide a senior secured debt facility of up to USD 350 million (the Facility). Proceeds from the Facility are expected to fund the majority of development capital for Stage 1 of the Company's Vista Coal Project (Vista), which has an estimated capital cost of CAD 445 million. The interest rate is 8% per annum in cash plus 3% per annum which can be capitalised or paid in cash. The cash payments will not start until Coalspur is in production. Full Article
Coalspur Mines Ltd And Canadian National Railway Co Sign Definitive Rail Transportation Agreement
Coalspur Mines Ltd announced that it has reached a definitive agreement (the Agreement) with CN (for the transportation of thermal coal from its Vista Coal Project (Vista) to Ridley Terminals Inc. (Ridley Terminals), as well as final agreement with CN regarding the construction of the railway line to serve the mine. The Agreement with CN is for a seven-year period, effective from January 01, 2013 and extending through to December 31, 2019. Pursuant to the terms of the Agreement, as with most western Canadian coal producers, Canadian National Railway Co (CN) will supply the equipment to carry Coalspur’s coal to tidewater. Coalspur and CN have also signed an agreement which will govern the construction of a 6.5km long railway line providing CN access to Coalspur’s loading site. The rail line will enable Coalspur to load the entire train in one continuous load. Subject to regulatory approval construction activity is expected to begin in third quarter of 2013 and be completed in early 2015. CN will ensure the rail line meets their design and construction specifications. Full Article
Coalspur Mines Ltd Announces No H1 2013 Dividend
Coalspur Mines Ltd announced that no dividends were paid or declared and no recommendation for payment of dividends has been made for the half year ended December 31, 2012. Full Article
Coalspur Mines Ltd Exercises Options Into New Ordinary Shares
Coalspur Mines Ltd announced the issuance of 100,000 ordinary shares at AUD 0.35 each pursuant to the exercise of options. Full Article
Coalspur Mines Ltd Exercises Options Into New Ordinary Shares
Coalspur Mines Ltd announced the issuance of 25,000 ordinary shares at AUD 0.35 per share pursuant to the exercise of options. Full Article
Coalspur Mines Ltd Exercises Options Into New Ordinary Shares
Coalspur Mines Ltd announced that it has issued 602,666 Ordinary Shares at an issue price of AUD 0.70 per share. The shares were issued pursuant to the exercise of Options. Full Article
Coalspur Mines Ltd Exercises Options Into New Ordinary Shares
Coalspur Mines Ltd announced that it has issued 12,791,336 Ordinary shares at an issue price of AUD 0.70 per share. The shares were issued pursuant to the exercise of options. Full Article
Coalspur Mines Ltd Secures USD300 Million Senior Debt Commitment to Fund Majority of Initial Development Capital at Vista
Coalspur Mines Ltd announced that it has entered into a Commitment Letter with EIG Global Energy Partners (EIG) to provide Coalspur a USD300 million senior secured debt facility (the Facility). Proceeds from the Facility will fund the majority of the development capital required to achieve first production at the Vista Coal Project (Vista). Advanced discussions are also underway with a number of strategic trading/off-take parties to secure additional funding for Vista and finalise coal marketing arrangements. The Facility, combined with the anticipated additional funding, will provide Coalspur with the funds required to commence production at Vista, provide working capital and repay the outstanding loan facility with the Highland Park Group. Coalspur expects the funding and off-take agreements to be executed and effective by the end of the first quarter of 2013. The Facility, which has been approved by EIG's Investment Committee, is for a term of eight years with a cash coupon of 8% per annum and with principal capitalising at 3% per annum. Coalspur has the ability to cash-pay this additional 3% instead of having it capitalise. Full Article
Coalspur Mines Ltd and Canadian National Railway Co Agree on Key Supply Chain Terms Logistics' Costs for Vista Project Finalized
Coalspur Mines Ltd announced that it has agreed on binding key terms (Key Terms) for the definitive commercial transportation agreement with Canadian National Railway Co. The Key Terms agreed with CN for Coalspur's Vista Coal Project (Vista) now complete the logistics costs for Vista. Coalspur and CN have agreed on an seven year commercial contract that forms the foundation for a collaborative coal supply chain for Vista. At full production of twelve million tonnes per annum (Mtpa), the agreement with CN will enable Coalspur to achieve savings in total logistics costs from the Vista Feasibility Study released in January 2012. The Key Terms provide Coalspur with up to 12.0 Mtpa of rail allocation and are structured to reflect the production profile of Vista. Key Terms agreed include rates, term and price escalations for the first five years of production, commencing in 2015. Similar with most Western Canadian coal producers, CN plans on supplying equipment to carry Coalspur's coal to tidewater. The definitive agreement is expected to be executed in the first quarter of 2013. Full Article
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