Cokal issues options to Platinum
Tuesday, 12 April 2016
COKAL will grant 50 million options to a fund managed by Platinum Partners as part of a $2.5 million debt for equity deal as it continues to discuss merger and funding deals with other partners after its proposed sale to Indonesian group Cakra stalled last November.
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Cokal welcomes new financier
9TH FEBRUARY 2015
BY: ESMARIE SWANEPOEL
CREAMER MEDIA SENIOR DEPUTY EDITOR: AUSTRALASIA
PERTH (miningweekly.com) – Coal developer Cokal has welcomed Cedrus International as a funding partner for its Bumi Barito Mineral (BBM) coal project, in Indonesia.
Cedrus has joined Platinum Partners in providing a nonbinding term sheet in relation to $110-million in funding to develop the BBM project.
The project facility would be equally funded between Platinum and Cedrus, and would be sufficient to fund the construction and commissioning of the two-million-tonne-a-year BBM project, as well as the working capital requirements during the development phase.
The syndicated facility would have an interest rate of 13% and a marketing fee of 2.5% of the gross sales from coal produced and sold from the first phase of operations. A royalty of 1.35% would be payable of the gross sales from the project as a whole.
The financiers would also be awarded 85-million options, at an exercise price of 13c each, with an exercise period of eight years.
Cokal chairperson and CEO Peter Lynch said that the addition of Cedrus supported Cokal’s view of the merits of the BBM project, and confidence in Indonesian mining opportunities generally.
“The confirmation of the Platinum/Cedrus financing is a significant achievement for the company and, when completed, will put us on target to start construction promptly after receiving the final forestry approval, which is expected this quarter.”
The feasibility study estimated that a capital investment of $75-million would be required to build the operation. Based on the current resource of 266.6-million tonnes, the project would have an estimated life of ten years.
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FOR IMMEDIATE RELEASE
CEDRUS INVESTMENTS’ NANOTECHNOLOGY INDICES OUTPERFORM MAJOR INDICES IN 1H2016
HONG KONG, 16th August, 2016 – Cedrus Investments (“Cedrus”), a global leader in the nanotechnology investment arena, announced today the 1H2016 performance of its two global nanotechnology indices, both launched in October 2009 – Cedrus Nanotechnology Index – Diversified (CNID) and Cedrus Nanotechnology Index – Pure (CNIP). Both CNID and CNIP outperformed several major equity indices in the period, including S&P 500, NASDAQ Composite, MSCI World, Russell 3000, Hang Seng, Shanghai Composite, Nikkei and DAX with a respective return of 5.92% and 3.89%.
Cedrus maintains two indices in order to meet the needs of diverse investors. These indices serve as performance benchmarks for nanotechnology investing. Cedrus’ diversified index (CNID) includes equally-weighted companies spanning all five nano-markets, including electronics, manufacturing, energy, life sciences and clean technology and is inclusive of both diversified companies that have nanotechnology as only one of their many growth drivers, and pure-play companies that have nanotechnology as their primary driver of growth. Cedrus’ pure index (CNIP) is a concentrated index, comprised of equally-weighted pure-play companies spanning also all five nano-markets and is best-suited for small-cap investors.
About Cedrus Investments
Cedrus Investments is a global boutique investment firm that offers expertise in private wealth management, asset management and financial advisory services to a clientele of leading institutional investors, corporations, family offices and high net worth individuals around the world.
For further information about Cedrus Investments, please visit http://www.cedrusinvestments.com.
Cedrus Investments Ltd.
SOURCE Cedrus Investments