Viking Ashanti Ltd

Type: Company
Name: Viking Ashanti Ltd
First reported Sep 12 2014 - Updated Sep 12 2014 - 1 reports

VIKING MINES : Environmental Baseline Studies Commence on Berkh Uul Coal Project in Mongolia

Release date- 11092014 - Viking Mines Limited (ASX: VKA) today announced that Auminco Mines Limited has engaged a Mongolian consultancy group to commence environmental baseline studies on the Berkh Uul coal project.The baseline study is a significant ... [Published 4 Traders - Sep 12 2014]
Entities: Coal, Mongolia, Environment, Mine
First reported Sep 11 2014 - Updated Sep 11 2014 - 1 reports

Viking Mines: Berkh Uul environmental baseline studies begin

Viking Mines vikingmines.com/Full Viking Mines profile hereViking Mines Ltd (formerly Viking Ashanti Ltd) (ASX:VKA) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km ... [Published Proactive Investors Australia - Sep 11 2014]
Entities: Mine, Coal, Environment
First reported Sep 11 2014 - Updated Sep 11 2014 - 1 reports

Auminco launches enviro study in Mongolia

PERTH (miningweekly.com) – Unlisted takeover target Auminco Mines has launched its environmental baseline studies for the Berkh Uul coal project, in Mongolia, ASX-listed Viking Mines reported on Thursday.The environmental study was a required component ... [Published Mining Weekly - Sep 11 2014]
First reported Sep 08 2014 - Updated Sep 08 2014 - 1 reports

VIKING MINES : Planned Drilling for Berkh Uul Coal Project in Mongolia

Release date- 05092014 - Viking Mines Limited (ASX: VKA) today announced that it has issued a letter of intent to drilling contractor Ellehcor LLC in relation to provision of drilling services for the Berkh Uul coal project in northern Mongolia .Ellehcor ... [Published 4 Traders - Sep 08 2014]
First reported Sep 04 2014 - Updated Sep 04 2014 - 1 reports

Viking Mines plans drilling for Berkh Uul coal project

Viking Mines vikingmines.com/Full Viking Mines profile hereViking Mines Ltd (formerly Viking Ashanti Ltd) (ASX:VKA) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km ... [Published Proactive Investors Australia - Sep 04 2014]
First reported Aug 27 2014 - Updated Aug 27 2014 - 1 reports

Viking Mines takeover of Auminco now unconditional

Viking Mines vikingmines.com/Full Viking Mines profile hereViking Mines Ltd (formerly Viking Ashanti Ltd) (ASX:VKA) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km ... [Published Proactive Investors Australia - Aug 27 2014]
First reported Aug 25 2014 - Updated Aug 25 2014 - 1 reports

Viking Mines investors snap up shares in capital raising

Viking Mines vikingmines.com/Full Viking Mines profile hereViking Mines Ltd (formerly Viking Ashanti Ltd) (ASX:VKA) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km ... [Published Proactive Investors Australia - Aug 25 2014]
Entities: Coal, Mine, Mongolia
First reported Aug 19 2014 - Updated Aug 19 2014 - 1 reports

Viking Mines : Berkh Uul Coal Project positioned to supply major Cement Works expansion

Release date- 15082014 - Viking Mines Limited (ASX: VKA) today announced that a major Mongolian industrial company has signed an initial non-binding Memorandum of Understanding relating to future potential coal supply, with Auminco Mines Limited .Viking ... [Published 4 Traders - Aug 19 2014]
First reported Aug 18 2014 - Updated Aug 18 2014 - 1 reports

Viking Mines heads to market

Viking Mines vikingmines.com/Full Viking Mines profile hereViking Mines Ltd (formerly Viking Ashanti Ltd) (ASX:VKA) was established in 2007 to explore for, develop and mine mineral deposits in Ghana, West Africa. The Company holds more than 250 sq km ... [Published Proactive Investors Australia - Aug 18 2014]
First reported Aug 15 2014 - Updated Aug 15 2014 - 1 reports

Viking Mines signs 4th MOU at Auminco mine

PERTH (miningweekly.com) – ASX-listed Viking Mines, formerly Viking Ashanti has inked a memorandum of understanding (MoU) with a Mongolian industrial company for the future potential supply of coal from Auminco Mines.The unlisted Auminco Mines is currently ... [Published Mining Weekly - Aug 15 2014]
First reported May 21 2014 - Updated May 21 2014 - 1 reports

Viking Ashanti changes name to Viking Mines

Viking Ashanti  ( ASX: VKA ) has changed its name to  Viking Mines  from 26 May 2014 following shareholder approval of 2 May, reflecting the acquisition of Auminco Mines. The company’s ASX ticker code remains unchanged.Viking had last week received ... [Published Proactiveinvestors United Kingdom website - May 21 2014]
First reported May 15 2014 - Updated May 15 2014 - 1 reports

Viking Ashanti close to wrapping up takeover of Auminco

Viking Ashanti  ( ASX: VKA ) is drawing closer to securing full control over takeover target Auminco Mines after receiving acceptances for 97.08% of the unlisted coal development company.The takeover offer period has been extended a further 14 days ... [Published Proactiveinvestors United Kingdom website - May 15 2014]

Quotes

"We understand KCLC has plans to substantially increase cement production to meet a growing domestic demand. This would result in its coal demand increasing from the current 250,000 t per year to around 400,000t to 500,000 t per year, 'Mr Gardner said. 'Viking is optimistic about winning a big slice of KCLC's business as low sulphur content is a feature of Berkh Uul coal, which is important for cement manufacture'."
"We understand KCLC has plans to substantially increase cement production to meet a growing domestic demand. This would result in its coal demand increasing from the current 250 000 t/y to around 400 000 t/y or 500 000 t/y" Gardner said
"This MOU provides further evidence of the potential customer base for Berkh Uul’s coal.”Background to DTTPDTPP is a Mongolian Government entity and is the major supplier of electricity to Mongolia’s second largest city, the commercial and industrial centre of Darkhan, and the northern region of Mongolia.Currently the DTPP consists of a 47 Megawatt power plant that consumes approximately 400,000t of coal per year. An upgrade to add an additional 35 Megawatt capacity is due for completion in 2015.The additional capacity will increase coal demand to approximately 600,000t per year.DetailsThe non-binding MOU, signed with Auminco’s Mongolian subsidiary BRX LLC relates to the intent by DTPP to enter into future purchase agreements for BU Project coal.It also establishes a basis for technical evaluation of the quality and quantity of coal prior to price negotiation, which includes testing of a 5,000 t bulk sample.The BU Project is located 200km east of Darkhan City, within 40km of rail access to the existing Trans-Mongolian Railway, which provides a transport link to Darkhan to the south and Russia to the north.AnalysisThis milestone agreement although not yet binding can propel development timelines for Berkh Uul and de-risk the project.This could see a fast track the development of Berkh Uul over the next 12 - 18 months to capture the demand for high quality thermal coal from industry (including cement works) and power stations that have developed in northern Mongolian and Siberian markets.We believe that  Viking Ashanti  can develop a small scale operation that could generate a conceptual free cash flow of up to US$3-5 million.Our projected valuation for  Viking Ashanti  is $0.085 to $0.165 per share. This is relative to current share price of $0.042 per share.  There is upside from this valuation as Viking adds a washing plant to Berkh Uul operations, the cost of which is expected to be less than $5 million. "
...level of acceptance from Auminco shareholders so promptly, and thank the Auminco directors for their support during this recommended offer process.  "We look forward to moving to the 90% acceptance level as soon as possible, and concluding our planned capital raising.”Under the terms of the offer, which was launched earlier this month, accepting Auminco shareholders will receive 60.6 Viking Shares and 20.2 Viking Options for every 100 Auminco Shares held.Auminco shareholders will emerge with a 47% stake in Viking, and play a major role in the evolution of Viking as a participant in the Mongolian thermal and coking coal markets.The combined entity could become a producer of thermal coal within the next 12 – 18 months.Notably, Auminco was established by founding shareholders and management of  Coalworks Ltd, which was eventually taken over by Whitehaven Coal (ASX: WHC) for  around $200 million in 2012. Viking’s lead project, Berkh Uul, is located in northern Mongolia next to a rail link that connects with Russian markets, and provides quick access to domestic power plants and industrial users at Darkhan and Ulaanbaatar.Near term, low cost production is forecast, with a JORC resource of 38.3 million tonnes of high quality, open pittable unwashed bituminous coal.Development risk is considered lower than for most Mongolian coal companies as overall CAPEX for Berkh Uul is low by most standards; start-up mining rate will not be large, with flexibility to build over time with simple and proven mining and processing technology, thus reducing funding and execution risk AnalysisAnalysis Viking Ashanti  provides an opportunity to acquire a company valued as an explorer before a likely share price uplift to a producer.Berkh Uul has potential to generate robust operating cash flows. A small scale conceptual mine may initially produce 500,000-750,000 tonnes per annum of thermal coal, generating free cash flow of $3-$5 million. We have estimated a share price target of $0.085 to $0.165 within 12 months, with further upside as Berkh Uul moves to increased and value added production. "

More Content

All (19) | News (15) | Reports (0) | Blogs (4) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
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VIKING MINES : Environmental Baseline Studies C... [Published 4 Traders - Sep 12 2014]
Auminco launches enviro study in Mongolia [Published Mining Weekly - Sep 11 2014]
Viking Mines: Berkh Uul environmental baseline ... [Published Proactive Investors Australia - Sep 11 2014]
VIKING MINES : Planned Drilling for Berkh Uul C... [Published 4 Traders - Sep 08 2014]
Viking Mines plans drilling for Berkh Uul coal ... [Published Proactive Investors Australia - Sep 04 2014]
Viking Mines takeover of Auminco now unconditional [Published Proactive Investors Australia - Aug 27 2014]
Viking Mines investors snap up shares in capita... [Published Proactive Investors Australia - Aug 25 2014]
Viking Mines : Berkh Uul Coal Project positione... [Published 4 Traders - Aug 19 2014]
Viking Mines heads to market [Published Proactive Investors Australia - Aug 18 2014]
Viking Mines signs 4th MOU at Auminco mine [Published Mining Weekly - Aug 15 2014]
Viking Mines signs third coal supply MoU for Be... [Published Proactiveinvestors United Kingdom website - Jul 07 2014]
Viking Mines signs second coal MoU with Mongoli... [Published Proactiveinvestors United Kingdom RSS feed - Jun 26 2014]
Viking Ashanti changes name to Viking Mines [Published Proactiveinvestors United Kingdom website - May 21 2014]
Viking Ashanti close to wrapping up takeover of... [Published Proactiveinvestors United Kingdom website - May 15 2014]
Viking Ashanti, Auminco sign coal MoU with Mong... [Published Proactiveinvestors United Kingdom RSS feed - May 05 2014]
Viking Ashanti wins control of Auminco Mines [Published Proactiveinvestors United Kingdom RSS feed - May 01 2014]
Viking Ashanti's takeover offer of Auminco Mine... [Published Proactiveinvestors United Kingdom RSS feed - Apr 16 2014]
Viking Ashanti to fast track Mongolian coal pro... [Published Proactiveinvestors United Kingdom website - Apr 10 2014]
Viking Ashanti lodges takeover offer for Auminc... [Published Proactiveinvestors United Kingdom RSS feed - Apr 03 2014]
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Viking Mines signs third coal supply MoU for Be... [Published Proactiveinvestors United Kingdom website - Jul 07 2014]
Viking Mines  ( ASX:VKA ) has signed a third future coal supply agreement with a Mongolian state-owned joint stock industrial company for its Berkh Uul Bituminous Coal Project in northern Mongolia.This further reinforces the industrial demand for high ...
Viking Ashanti changes name to Viking Mines [Published Proactiveinvestors United Kingdom website - May 21 2014]
Viking Ashanti  ( ASX: VKA ) has changed its name to  Viking Mines  from 26 May 2014 following shareholder approval of 2 May, reflecting the acquisition of Auminco Mines. The company’s ASX ticker code remains unchanged.Viking had last week received ...
Viking Ashanti close to wrapping up takeover of... [Published Proactiveinvestors United Kingdom website - May 15 2014]
Viking Ashanti  ( ASX: VKA ) is drawing closer to securing full control over takeover target Auminco Mines after receiving acceptances for 97.08% of the unlisted coal development company.The takeover offer period has been extended a further 14 days ...
Viking Ashanti to fast track Mongolian coal pro... [Published Proactiveinvestors United Kingdom website - Apr 10 2014]
Recommendation: Speculative BuyShare price target: $0.085 to $0.165   Sector: MaterialsASX Code: VKAShare Price: 0.03552 Week -: High: $0.055Low: $.018Ordinary Shares: $112.7M*Options: 22.7M*Cash: $0.89MMarket Cap: $3.9MEnterprise Value: $3.01MPost Auminco ...
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