IPO Watch
UPCOMING FLOATS: Who’s due to list on the boards of the Australian Securities Exchange and what they’re all about.
Coke Resources Limited
Proposed ASX code: CKE
Proposed listing date: 28 February 2013
Coke Resources was incorporated in 2011 and claims its primary purpose is to investigate investment in or acquisition of opportunities in the Indonesian resources sector.
The company describes itself as a, “speculative exploration company”, to which point it has indicated that upon admission to the ASX it will exercise its optin to acquire an indirect 97.03 per cent interest in coal exploration company, PT Cristian Eka Pratama (PT CEP).
PT CEP holds an Izin Usaha Pertambangan Eksplorasi (Indonesion Exploration Mining Business Licence), which contains the Cristian thermal coal project in East Kalimantan.
The Cristian project covers consists of 5,273 hectares and is located in a recognised Indonesian coal province.
Coke has also entered into a conditional sale and purchase agreement to acquire a majority stake in the Taliwang gold project in Sumbawa.
This acquisition is set to occur via the company’s purchase of 100 per cent of Indotan Sumbawa pte Ltd.
Once it is listed, Coke Resources said it intends conducting investigations into and due diligence on other Indonesian-based resources projects with the aim to quickly expand its asset portfolio in the region.
Company non-executive chairman James Carter claims 17 years’ experience in the mining industry in Indonesia, Singapore and Australia.
Carter was previously CFO of ASX-listed Straits Resources and CFO and Company Secretary of Singapore-listed Straits Asia Resources.
Executive director Claude Strnadica has been a corporate banker Perth for the past 12 years. In recent years has worked with ASX-listed mining companies with operations in Australia, Africa and most particularly Indonesia.
Non-executive director Les Pereira has been involved in mining projects over the past 12 years, most recently in coal mining in Indonesia.
Non-executive director Rafael Nitiyudo is Indonesian-based and has been involved in coal mining projects in Indonesia over the past six years. He has worked on the Pakar coal project in Kalimantan, Indonesia.
Source: ASX
Perpetual Resources Limited
Proposed ASX code: PEC
Proposed listing date: 28 February 2013
Perpetual Resources Limited is seeking to list on the Australian Securities Exchange with its primary focus being the exploration and development of the Atoz coal project located 60 kilometres south of Padang in the central west of West Sumatra.
The project covers 192.08 hectares and has an approved production license (Production IUP, which is valid until 2017.
Perpetual claims the potential of the Atoz project could be significant indicating the geological setting at the pits is identical indicating one coherent target zone.
The development of high-grade coal has been confirmed at various sites within the tenement while the interpretation of satellite imagery indicates other seams could be present in the area.
The harbour at Padang is being expanded and deepened.
Perpetual says once this development has been completed it will be possible to export coal in bulk carriers direct to clients instead of the smaller parcel handling method that is currently in use.
A reconnaissance trip was undertaken in late 2011 by an independent geologist to assess the potential of the area established coal occurs as dipping seams that strike from northeast to southwest.
It was interpreted that the seam in the main pit area extends for at least 400m along strike with a potential strike-length of 1.0km and possible multiple seams within the tenement.
Perpetual considers the success of other local producers, and the encouraging coal outcrops in the area, provide potential to identify a sizeable resource within the project area.
The company intends to undertake a drilling campaign immediately after listing with the aim of moving the project to production as quickly as possible.
Source: ASX
Disclaimer: The above information is not investment advice. The Roadhouse accepts no responsibility for investments made from this information.