Tigers Realm Coal ready to list

Owen Hegarty's Tigers Realm Coal is about to list after pulling in $45 million from its scaled-back float.

By InvestSMART · 29 Jul 2011

By InvestSMART ·
29 Jul 2011

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Owen Hegarty's Tigers Realm Coal is about to list after pulling in $45 million from its scaled-back float.

OWEN Hegarty's Tigers Realm Coal is about to list after pulling in $45 million from its scaled-back float.

The raising, at a reduced price of 60? a share because of equity market weakness, was well short of the originally promoted target of $200 million.

There were nevertheless oversubscriptions for the smaller-scale float, which had sought a minimum of $30 million.

''This is the first step to realising the significant value of the Amaam [Russia] and Landazuri [Colombia] coking projects,'' TRC said. TRC is the first of the commodity-specific spinoffs planned by the privately held Tigers Realm Minerals, a group made up of former Oxiana/OZ Minerals managers, including Mr Hegarty.

TRC was created after the financial crisis hit in 2008 with the aim of assembling a portfolio of Pacific Rim coking coal development projects. It recently increased its total stock exchange compliant resource base to 198 million tonnes of coking coal. In addition, work at its key Russian and Colombian projects has given it confidence to point to an additional ''exploration target'' across the two projects of 520-850 million tonnes of the key steel-making raw material.

The big increase in (inferred) resources was at Amaam, from 63 million tonnes to 177 million tonnes. At the Rio Blanco tenement at the Landazuri project in Colombia, a maiden inferred resource of 21 million tonnes of coking coal has been estimated.

Amaam is the key project, with TRC targeting initial production of up to 5 million tonnes of high-quality coking coal from 2016.

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Frequently Asked Questions about this Article…

What happened with Tigers Realm Coal’s float and how much money did it raise?

Tigers Realm Coal pulled in about $45 million from a scaled-back float. The raising was reduced from an originally promoted target of $200 million and attracted oversubscriptions at the smaller scale.

Why was Tigers Realm Coal’s share price reduced for the float?

The company reduced the float price to 60 cents a share because of equity market weakness, which led to the scaled-back raising.

Is Tigers Realm Coal listed or about to list on the stock exchange?

According to the article, Tigers Realm Coal is about to list after completing its scaled-back float that raised $45 million.

What coking coal projects does Tigers Realm Coal own or target?

TRC said the float is the first step to realising value from its Amaam project in Russia and the Landazuri project in Colombia (including the Rio Blanco tenement).

How much coking coal resource does Tigers Realm Coal report?

TRC recently increased its stock-exchange-compliant resource base to 198 million tonnes of coking coal, with a reported inferred resource increase at Amaam from 63 million tonnes to 177 million tonnes and a maiden inferred resource of 21 million tonnes at Rio Blanco (Landazuri).

Does Tigers Realm Coal have a larger exploration target beyond the reported resources?

Yes. TRC stated it has an additional exploration target across the two key projects of about 520–850 million tonnes of coking coal.

What production targets has Tigers Realm Coal outlined for its key project Amaam?

Amaam is TRC’s key project, and the company is targeting initial production of up to 5 million tonnes of high-quality coking coal from 2016.

Who is behind Tigers Realm Coal and how was the company formed?

TRC is the first commodity-specific spinoff planned by privately held Tigers Realm Minerals, a group made up of former Oxiana/OZ Minerals managers including Owen Hegarty. The group was created after the 2008 financial crisis to assemble a portfolio of Pacific Rim coking coal development projects.