Quarterly Activities Report
Sydney, April 30, 2012 AEST (ABN Newswire) - Bandanna Energy Limited (
ASX:BND) continues to progress project development activities required to position Bandanna as Australia's next coal producer. Key highlights and milestones for the Reporting Period, confirming Bandanna's ongoing transition from coal explorer to coal producer, include:
The Final Links of the Springsure Creek Coal Supply Chain were secured...
- Rail Loadout - execution in March 2012 of a binding agreement with Acacia Coal (ASX:AJC) for the sharing of train loadout infrastructure and securing Acacia's consent to Bandanna's application for transportation and infrastructure mining leases over portions of Acacia's EPC1230
- Rail Haulage - award in February 2012 of a contract to Pacific National for the haulage of coal from the Springsure Creek Project to the Wiggins Island Coal Terminal, complementing the infrastructure capacity secured in the previous quarter:
- Below Rail - commercial agreement in September 2011 with QR National (ASX:QRN) to proceed with the below rail component for coal haulage to Wiggins Island
- Shiploading - agreement executed in September 2011 with WICET, in which Bandanna Energy is a 14% shareholder, for port allocation and shiploading of Springsure Creek coal.
Bandanna Board prepares for Project Development...
- appointment of Mr John Pegler, leading coal industry identity, experienced director and former coalmining operations and development executive, current Chair of the Australian Coal Association, as a non-executive director of Bandanna
- appointment of Mr Michael Gray, highly experienced coal development executive as Managing Director of Bandanna, succeeding Dr Ray Shaw
- commencement of Ms Tess Lye, acknowledged project development lawyer and governance specialist as Company Secretary of Bandanna
- ongoing discussions with third parties regarding equity participation in Bandanna's Springsure and Dingo West projects, as part of Bandanna's development funding strategy.
- progression of discussions with a third party to obtain port capacity for the South Galilee Coal Project in the proposed T4-T9 expansion projects at Abbot Point Coal Terminal
- maiden open-cut Reserve for the South Galilee Project.
To view the complete Bandanna Energy Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-BND-187904.pdf
Contact
Bandanna Energy Limited
Michael Gray, CEO
T: +61-2-9923-1520
F: +61-2-9923-1528
E: info@bandannaenergy.com.au
WWW: www.bandannaenergy.com.au
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