Quarterly Activities Report
Brisbane, Jan 31, 2012 AEST (ABN Newswire) - Bandanna Energy Limited (
ASX:BND) is pleased to provide a quarterly report for the period ended 31 December 2011.
The following activities have been conducted by, or on behalf of, the Company and its wholly-owned subsidiaries ("Bandanna") during the three months 1 October to 31 December 2011 ("Reporting Period").
Executive Summary
Bandanna Energy Limited continues to strengthen its position as an emerging force in the Australian thermal coal sector, with the following significant events having occurred during the Reporting Period.
Operational - Exploration and Development Activities
- Significant increase in Resources for Springsure Creek Project.
- Mining Lease application made for Springsure Creek Project.
- Cultural Heritage and Native Title Agreements reached in Springsure Creek and South Galilee Coal projects, respectively.
- Strategic Cropping Legislation passed including provision for Springsure Creek under the transition arrangements.
- Implementation of Co-existence Strategy with landowner/occupier stakeholders.
Infrastructure
- Close of financing package for Wiggins Island Coal Terminal and commencement of major construction phase.
- Submission of expression of interest for a 15 Mtpa port allocation for the South Galilee Coal Project in the proposed T4-T7 expansion of Abbot Point terminal unsuccessful, however subsequent discussions with the North Queensland Bulk Ports for alternate options to gaining necessary port capacity at Abbot Point are continuing.
Corporate
- Announcements that John Pegler and Michael Gray are to be appointed to the board, with Michael to become the new CEO and Managing Director during Q1 2012.
- Termination of the Strategic Review Process.
- Increased staff and resources and relocation of registered and business office to larger premises as part of Company's up-gearing during Development stage.
To view the complete Bandanna Energy Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BND-186808.pdf
Contact
Bandanna Energy Limited
Dr Ray Shaw
Tel: +61-7-3041-4400
Andrew Crook
Mob: +61-419-788-431
Email: info@bandannaenergy.com.au
http://www.bandannaenergy.com.au
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