Coal
Inner Mongolia PingZhuang Energy Resources Co Ltd Announces Officer Change
Inner Mongolia PingZhuang Energy Resources Co Ltd announced that it has appointed Mr. Zhang Zhi as Chairman of the Board, Mr. Zhao Hong as General Manager and Mr. Sun Yi as Chief Financial Officer in the Company, effective May 17, 2013.
New World Resources PLC Plans Reorganization and Job Cuts; Shares Fell Over 14% - Reuters
Reuters reported that New World Resources PLC’s shares fell more than 14% on Friday (May 17, 2013), hitting a new record low a day after the Czech miner posted a record quarterly loss and said it would close or sell some unprofitable operations and cut jobs.
ATH Resources Plc Subsidiary Announces Voluntary Winding Up
ATH Resources Plc (ATH) announces that the Directors of Aardvark TMC Limited (the Company), the Group's main trading subsidiary had concluded that the Company be wound up voluntarily and had convened a meeting of the members of the Company, at which ATH (as sole shareholder) resolved to wind up the Company and appointed Mark Granville Firmin, Brian Green and Howard Smith of KPMG LLP as Joint Liquidators for the purpose of such winding up. Given the restoration liabilities of the Company, and the failure to secure additional investment to fund new mines due to the collapse in the price of coal, the Company (with the assistance of KPMG LLP) had been exploring options for a consensual, solvent, restructuring of the business in conjunction with its senior lender, Hargreaves Surface Mining Limited ('HSML'). In parallel, the Directors had also been developing contingency plans that would involve insolvency with a view to preserving the Company's operations and employment, but avoiding a compulsory liquidation of the Company. The Company was unable to secure the necessary stakeholder support to implement a solvent or consensual option, and the Board was left with no choice but to seek to wind up the Company. In recommending the voluntary winding up, the Board has facilitated a plan whereby HSML has acquired certain assets of the Company.
Oxford Resource Partners LP Reaffirms FY 2013 EBITDA Guidance; Issues FY 2013 Production Guidance
Oxford Resource Partners LP announced that for fiscal 2013, it expects adjusted EBITDA to be in the range of $45 million to $50 million. The Company also announced that it expects to produce between 6.0 million tons and 6.5 million tons and sell between 6.4 million tons and 6.9 million tons of thermal coal. According to I/B/E/S Estimates, analysts are expecting the Company to report EBITDA of $45 million for fiscal 2013.
Shakhta Yegozovskaya OAO Announces Change in Shareholding Structure-SKRIN
SKRIN reported that ADRASCO HOLDINGS LIMITED has acquired a 7.916% stake in Shakhta Yegozovskaya OAO. Prior to that, ADRASCO HOLDINGS LIMITED did not own a stake in the Company. Moreover, Roman Capital Holdings Ltd has acquired a 8.835% stake in the Company. Prior to that, Roman Capital Holdings Ltd did not own a stake in the Company. Also, MANTZEL INVESTMENTS LIMITED has acquired a 20.803% stake in the Company. Prior to that, MANTZEL INVESTMENTS LIMITED was not a shareholder of the Company.
AVIAX MANAGEMENT INC. Sells Stake in Shakhta Yegozovskaya OAO-SKRIN
SKRIN reported that AVIAX MANAGEMENT INC. has disposed of a 20.803% stake in Shakhta Yegozovskaya OAO and is no longer a shareholder of the Company.
UK Kuzbassrazrezugol' OAO to Receive RUB 1.5 Billion Credit from Sibirskiy bank of Sberbank Rossii OAO-Interfax
Interfax reported that Sibirskiy bank of Sberbank Rossii OAO will provide UK Kuzbassrazrezugol' OAO with credit resources of RUB 1.5 billion, the bank said. The credit period is planed for three years. The funds are intended to finance the KRU investment program for the acquisition of BelAZ haul trucks.
Belon OAO Announces Change of General Director-Ural-press-inform
Ural-press-inform reported that Belon OAO has appointed Mr. Viktor Anufriev to the post of Acting General Director of the Company, replacing Mr. Vyacheslav Bobylev.
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Analyst Research
| Report Title | Price |
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Provider: Edison Investment Research
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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Provider: Edison Investment Research
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$10.00
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