Viking Ashanti Ltd

Type: Company
Name: Viking Ashanti Ltd
First reported Jul 11 2014 - Updated Jul 11 2014 - 1 reports

Viking Mines extends offer period for Auminco Mines

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 - Jul 11 2014]
First reported Jul 07 2014 - Updated Jul 08 2014 - 1 reports

07.07.14 - Third MOU signed for Berkh Uul Coal Project in Mongolia

Viking Mines Limited (ASX: VKA, the "Company" or "Viking") today announced that a Mongolian industrial company has signed an initial non-binding Memorandum of Understanding ("MOU") relating to future potential coal supply, with Auminco Mines Limited ... [Published Noodls - Jul 07 2014]
First reported Jul 03 2014 - Updated Jul 03 2014 - 1 reports

VIKING MINES : Exclusivity Agreement, Akoase Gold Project in Ghana

Release date- 02072014 - Viking Mines Limited (ASX: VKA) today announced that it has entered into an Exclusivity Agreement with Ghanaian company Akroma Gold Co. Ltd in relation to Viking's 100% owned Akoase gold project in southern Ghana .The agreement, ... [Published 4 Traders - Jul 03 2014]
First reported Jul 02 2014 - Updated Jul 02 2014 - 1 reports

02.07.14 - Exclusivity Agreement - Akoase Gold Project in Ghana

Viking Mines Limited (ASX: VKA, the "Company" or "Viking") today announced that it has entered into an Exclusivity Agreement with Ghanaian company Akroma Gold Co. Ltd ("Akroma") in relation to Viking's 100% owned Akoase gold project in southern Ghana ... [Published Noodls - Jul 02 2014]
First reported Jun 30 2014 - Updated Jun 30 2014 - 1 reports

MONGOLIA - Second MoU for Berkh Uul Coal

A second Mongolian Government power authority has signed an initial non-binding Memorandum of Understanding (MoU) relating to future potential coal supply, with Auminco Mines, an unlisted public coal development company which is the subject of a takeover ... [Published Asia Miner - Jun 30 2014]
First reported Jun 26 2014 - Updated Jun 26 2014 - 2 reports

Viking Mines in fresh deal with Mongolian power authorities

Viking Mines – formerly Viking Ashanti – has signed a second future coal supply agreement with a Mongolian government power authority. The non-binding Memorandum of Understanding (MOU) pertains to coal produced from the company’s Berkh Uul bituminous ... [Published World Coal - Jun 26 2014]
Entities: Coal, Mines, Mongolia
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]
First reported May 05 2014 - Updated May 06 2014 - 1 reports

Viking Ashanti, Auminco sign coal MoU with Mongolian Govt power authority

Viking Ashanti  ( ASX: VKA ) and its 92.69% owned subsidiary Auminco Mines have clinched a future coal supply agreement with a Mongolian Government power authority for its Berkh Uul Bituminous Coal Project in northern Mongolia.This is a significant ... [Published Proactiveinvestors United Kingdom RSS feed - May 05 2014]
First reported May 01 2014 - Updated May 01 2014 - 1 reports

Viking Ashanti wins control of Auminco Mines

Viking Ashanti  ( ASX: VKA ) has won control of takeover target Auminco Mines by gaining acceptances of 90.96% for the unlisted coal development company.The takeover offer period will be extended by 14 days to Friday, 23 May 2014.Auminco holds the Berkh ... [Published Proactiveinvestors United Kingdom RSS feed - May 01 2014]
First reported Apr 10 2014 - Updated Apr 10 2014 - 1 reports

Viking Ashanti to fast track Mongolian coal production within 12-18 months

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 ... [Published Proactiveinvestors United Kingdom website - Apr 10 2014]
First reported Apr 03 2014 - Updated Apr 03 2014 - 1 reports

Viking Ashanti lodges takeover offer for Auminco Mines

Newly Mongolian focused  Viking Ashanti  ( ASX: VKA ) is a step closer to acquiring unlisted Auminco Mines Limited, owner of a package of advanced coal assets after lodging a Bidder’s Statement with ASIC today.The bid is a friendly, off-market takeover ... [Published Proactiveinvestors United Kingdom RSS feed - Apr 03 2014]

Quotes

"This MOU confirms that there is significant local industrial demand for Berk Uhl coal and gives us"
The information in this report concerning the Mineral Resources of Viking Mines is extracted from the report entitled "12% Increase to 790,000 oz in Gold Resource for Ghana Project " created on 4 October 2013 and is available to view on Viking Mines website at www.vikingmines.com
"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. "

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All (19) | News (15) | Reports (0) | Blogs (4) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
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Viking Mines extends offer period for Auminco M... [Published Proactive Investors Australia - Jul 11 2014]
Viking Mines signs third coal supply MoU for Be... [Published Proactive Investors Australia - Jul 07 2014]
07.07.14 - Third MOU signed for Berkh Uul Coal ... [Published Noodls - Jul 07 2014]
Viking Mines signs third coal supply MoU for Be... [Published Proactiveinvestors United Kingdom website - Jul 07 2014]
VIKING MINES : Exclusivity Agreement, Akoase Go... [Published 4 Traders - Jul 03 2014]
02.07.14 - Exclusivity Agreement - Akoase Gold ... [Published Noodls - Jul 02 2014]
MONGOLIA - Second MoU for Berkh Uul Coal [Published Asia Miner - Jun 30 2014]
Viking Mines in fresh deal with Mongolian power... [Published World Coal - Jun 26 2014]
Viking Mines signs second coal MoU with Mongoli... [Published Proactive Investors Australia - Jun 26 2014]
Viking Mines signs second coal MoU with Mongoli... [Published Proactiveinvestors United Kingdom RSS feed - Jun 26 2014]
Mongolia’s cement industry to meet rising demand [Published Spy Ghana - Jun 25 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]
Viking Ashanti gets green light for North Mongo... [Published Proactiveinvestors United Kingdom RSS feed - Mar 24 2014]
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sort by: Date | Relevance
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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