Quarterly Activities Report
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.
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About Bandanna Energy Limited
Bandanna Energy Limited (ASX:BND) is uniquely positioned to become Australia's next coal producer. The company's core activities are exploration, project evaluation and development of thermal and PCI coal assets located in Queensland, Australia.
Bandanna Energy is the only ASX listed company with substantial coal assets in both the Bowen and Galilee basins subject to EIS and advanced mine studies. The company is committed to working constructively with the communities in which it operates, and delivering growing returns to shareholders, government and the community.
Bandanna Energy's Springsure Creek underground thermal coal project is scheduled to commence production in mid-2015. Bandanna is a 14% shareholder in Wiggins Island Coal Export Terminal (WICET) Stage 1 at Gladstone, with port allocation of 4Mtpa for the Springsure Creek Project, and has also secured the necessary infrastructure capacity for the integrated rail haulage of coal from the Springsure Creek Project to port.
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