Tigers Realm Coal shared additional details regarding the Market Update


Tigers Realm Coal Limited (ASX: TIG) has provided additional information, in its market update of 8 March 2019, which is related to its earlier announcement of 4 March 2019’s Market Update.

On 8 March 2019, TIG notified that it had successfully concluded the Coal Supply contract with JFE Shoji for up to 100kt of thermal coal.

In the Project summary, page 2 of the release, the company has provided additional information regarding the combined resources of 632Mt for its coal projects Amaam and Amaam North. As on 9 July 2015, the resource estimate from Amaam was 521Mt. From Amaam North, the estimated resources as on 12 April 2016 was 110.6 Mt.

On 4 March 2019, TIG made an announcement on ASX, highlighting that on 1 March 2019, it had entered a term sheet with East Mining Company (EMCO), based in Sakhalin for purchasing, and financing two 500t barges, which was earlier operated by EMCO in the Port of Shakhtersk. Based on the acquisition of the barges, and their delivery to Beringovsky, before the beginning of the shipping season in 2019, it would be contributing towards the ability of the company to increase the throughput capacity of Port Beringovsky. In the same announcement, TIG also highlighted that on 28 February 2019, it had signed a coal supply contract, with a significant and strategically important Japanese customer to ship initial 100kt of coal in 2019.

For the company, the signing of the contract was further proof of increasing acceptance of the TIG coal in its key Asian markets.

On 31 January 2019, the company announced its quarterly report for the period ended 31 December 2018, where the key highlights of the December quarter were on:

  • Safety: The December 2018 quarter reported no lost time injuries. For the entire 2018, TRIFR declined from 4.5 to 3.7 per million hours.
  • Mine production: Around 143kt of the coal was mined, and 95kt got delivered to the port. The target for both the December quarter, as well as, the yearly mining target was achieved in 2018.
  • Sales: 393kt of coal was loaded and sold in 2018, which was slightly below the annual guidance update in the September Quarterly Production and Activities Report. The adverse port weather conditions were the primary reason for low quarterly production, at the end of the shipping season.
  • Unaudited operating cash flow: The unaudited net annual operating cash inflow was A$8 million.
  • Coal on stockpile: By the end of 2018, there were 267kt of coal on stockpiles. Out of that, 200kt was product coal at the port and 67kt of ROM coal on the interim stockpile.
  • Working capital financing: The company has signed a one-year working capital credit line, worth RUB 900 million in December 2018.
  • The exploration license of Amaam North got extended until December 2025.

By the end of the trading period on 11 March 2019, the shares of TIG traded flat on ASX at A$0.040. The company has a market capitalization of A$71.67 million and approximately 1.79 billion outstanding shares.


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