# TIG - Tigers Realm Coal



## Agentm (30 May 2011)

*i thought i would share some info on this upcoming ipo*


many probably remember the success of Owen Hegarty form oxiana /Ozminerals. He has a few ipo's on the go, this one is the first, its the coal assets

i have been following this for some months now, and after seeing the article published in the age, they are obviously gearing up to get the ipo up and running in the coming months..

not sure on how much of the article i should be posting, leave that to the mods.. but its a good read..



> *Tigers Realm hunts coking coal market*
> *Barry FitzGerald*
> 
> May 30, 2011
> ...





Read more: http://www.theage.com.au/business/t...coal-market-20110529-1fau6.html#ixzz1NmfyYZgU


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## Agentm (1 September 2011)

been trading a few days


ASX RELEASE

29 August 2011

Tigers Realm Coal Listing Today

$37.5m equity raising and IPO completed

Proceeds to fund drilling and studies at coking coal projects


Shares in Tigers Realm Coal Limited (ASX: TIG) will commence trading on the ASX at 12:00pm today. The listing follows completion of a A$37.5m Initial Public Offering (IPO) and approval by the ASX of the company’s listing application.


Tigers Realm Coal is focused on developing two coking coal projects: the Amaam project in Far Eastern Russia and the Landazuri project in Colombia.

Tigers Realm Coal Managing Director and Chief Executive Officer, Mr. Martin Grant said today, “The float of Tigers Realm Coal is one of the largest resources IPOs this year and given market conditions, is a very positive reflection on the quality of the Amaam and Landazuri coking coal assets and the TIG team.

The company is currently working on an updated resource estimate to incorporate additional drill data from programs already completed. We expect to have this work completed over the next six to eight weeks.”


At the Amaam project in Far Eastern Russia, Tigers Realm Coal is well advanced in preparation activities for the forthcoming drilling program. Drilling is expected to commence in early November 2011. This will be a large program with five drill rigs to further expand and upgrade resources.

At the Landazuri project in Colombia, the company is in the final stages of awarding contracts and drilling is expected to commence in Q3 2011.

Further details about Tigers Realm Coal can be found at www.tigersrealmcoal.com




keep in mind that 45% of the drill results have yet to be included in any inferred resource calculations


*177 Mt JORC compliant Inferred Resource and exploration target of an additional 240 Mt - 380 Mt 1

-Current  Inferred Resource does not include 3,450m (45% of the 2010-11 drilling  program), which is expected to be included in an updated Resource in or  about Q3 - Q4 2011*

i tend to rate this one not as a explorer, but more as a developer of the resource.


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## Agentm (18 October 2011)

shaw is giving a 50% discounted rate from $1.23 


The full 14 page report can be seen here.

Event

Shaw Stockbroking initiate coverage of Tigers Realm Coal (TIG) with a Buy recommendation and a $0.60ps 12 month price target.


Highlights

Tigers Realm Coal (TIG) is earning significant stakes in two large coal project located in far eastern Russian and Colombia. Since listing on the ASX in late August this year the share price of Tigers Realm Coal (TIG) has retreated from 44cps down to 33cps. This has mainly been driven by the
general market malaise associated with the European dept crisis rather any company specific issues.

TIG is now trading at significant discount to our valuation of $1.23ps and our 12 month price target of $0.60ps. We ascribe a Buy recommendation on the assumption that TIG will be eventually re-rated as each significant milestone is progressively achieved. First major milestone recently
announced was a 66% increase of inferred resources to 294 million tonnes at the Amaan coking coal project.

TIG was incorporated in late 2010 with aim of exploring for and developing coal resources. TIG listed on the Australian Stock Exchange on 29 August 2011 after raising A$37.5 million at A50c per share in an Initial Public Offering. 

TIG’s largest shareholder is Tigers Realm Minerals Pty Ltd.

TIG currently has two coal projects which are:

· Amaan Joint Venture in far eastern Russia where TIG has a 40% ownership, increasing to 60% once a licence to explore and extract coal is granted and then increasing to 80% upon completion of a bankable feasibility study.

· Landazuri Joint Venture in Columbia where TIG is earning a 60% to 70% ownership in three joint ventures.

The Amaan coking coal JV project is currently at a stage where a 268mt inferred coal resource has been delineated and preliminary technical studies have outlined conceptual parameters for a proposed 5.3 million tonnes per annum mining and export operation. The next steps involve
upgrading a substantial portion of the coal resources base to the measured and indicated categories and completing a feasibility study.


The Landazuri coking coal JV project is currently at a stage where a 21mt inferred coal resource has been outlined and conceptual studies indicate the potential to produce a single coking coal product on an unwashed basis. The next steps involve upgrading the resources using 2,380m of
completed drilling and initialising production utilising road transport.

Recommendation

TIG is trading at significant discount to our valuation of $1.23ps and our 12 month price target of $0.60ps. We initiate with a Buy recommendation on the assumption that TIG will be re-rated as each significant milestone is
progressively achieved.


Peer Comparison

On an enterprise value per resource tonne basis TIG ranks amongst other less developed coal companies. Whilst this method of analyses is rather simplistic, the value of a coal companies is highly dependent on the infrastructure needed to bring coal to market. Typically enterprise
value per resource tonne multiples will improve progressively as coal companies achieve certain milestones related to infrastructure development (funding, permits, construction, etc).

Nevertheless other factors such as margins are also very important – note how CEY was taken over on a relatively low multiple mainly as its business was selling lower margin thermal coal to local utilities.









Price Target

Given TIR’s early stage of development and the number of milestones that have to be overcome prior to the commencement of production at both the Amaan and the Landazuri coking coal projects we believe that a discount to valuation should be applied. At this stage we apply a 50% discount to our $1.23 per share valuation to achieve a 1 year price target of $0.60 per share. This discount rate will be progressively reduced as each significant milestone is achieved.


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## Agentm (4 January 2012)

*                         Hegarty sees value in Tigers Realm Coal                     *

*Eli Greenblat*

     December 29, 2011


http://www.theage.com.au/business/h...-realm-coal-20111229-1pdie.html#ixzz1iR8VAU9c

Resources and mining entrepreneur Owen Hegarty has taken advantage of  a near 50 per cent collapse in the share price of newly listed company  Tigers Realm Coal to scoop up 500,000 shares in the junior explorer.
              Mr Hegarty, who is a director of Tigers Realm Coal and  was the founder and chief executive of Oxiana, has issued a change of  directors interest to the ASX showing he has topped up his holding in  the coal play.
              According to the notice, Mr Hegarty dipped into the  market to buy Tigers Realm Coal stock on December 22, 23 and 28 when the  share price traded between 25 cents and 27 cents. He purchased a total  of 500,000 shares for $127,990 - giving him an average purchase price of  25.6 cents per share.
                                       Advertisement: Story continues below                               
             The recent buying adds to his existing parcel of 12.934  million shares in Tigers Realm Coal held through a private company  called Shimmering Bronze Pty Ltd. He also owns 4.315 million options.
              Mr Hegarty told _BusinessDay_ the weaker share price represented good value.
              ‘‘It's very good value, there are plenty of people will  tell you there  is lots of good value out there in the market at the  moment, but here is  one that I’m absolutely committed to and know  plenty about, so I’m  happy to continue to get in and support it.’’
              Tigers Realm Coal is developing two coking coal projects,  the Amaam Coking Coal Project in far eastern Russia and the Landazuri  Coking Coal Project in Colombia.
              Mr Hegarty said the company’s tenements in Russia in  particular   would prove highly valuable in the future, although Tigers  Realm Coal   still had some way to progress as it passed the typical  mining hurdles   of exploration, feasibility studies and the  construction of key   infrastructure.
              ‘‘The potential is bloody huge,’’ Mr Hegarty told _BusinessDay_.  ‘‘And the fact that its very good quality, hard coking coal right near    the coast so you can fire it through to Korea, or Japan or China.
              "Now   okay there's a lot of work to do ... but we know  how to do that stuff, its never   simple, never easy, but we can see a  path all the way through and we   know the values that are going to be  counted there will be ultimately in   the billions because of the sheer  scale of it.’’
              The company was floated on the market in August with  shares offered under the initial public offer at 50 cents each. The  share price has fallen nearly 50 per cent since the listing.

Read more: http://www.theage.com.au/business/h...-realm-coal-20111229-1pdie.html#ixzz1iR8SPeH8
​


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## springhill (10 July 2012)

*Institutional placement to fund further drilling and technical studies at the Amaam Project*

Tigers Realm Coal Limited (TIG) has today launched a placement of fully paid ordinary shares to institutional and sophisticated investors (Placement) to raise a minimum of $5 million and up to approximately $10 million at a price of $0.18 per share (Placement Price).
The Placement Price represents a 5% discount to the volume weighted average price over the 5 trading days up to and including 6 July 2012.
Subsequent to the Placement, it is expected that a Share Purchase Plan (SPP) will be offered under which eligible TIG shareholders may each apply to subscribe for up to $15,000 of TIG shares. The price for the SPP would be the lesser of the Placement Price and a 5% discount to the volume weighted average price over the last 5 trading days of the SPP offer period. Neither the Placement nor the SPP will be underwritten.
The majority of the proceeds of the offer will be applied towards funding drilling and technical studies at the Amaam Project. All net proceeds raised over and above the $5 million minimum will be applied towards the 2012/13 drilling program at Amaam. Net proceeds of the offer will also fund corporate costs and working capital to the end of June 2013 by which time the Amaam pre-feasibility study (PFS) is expected to have been completed and additional drilling results will have been made available. TIG believes that completion of the PFS at the end of 2012 will significantly increase the value of the Amaam project and will provide TIG with an increased range of alternatives for securing funding to progress the Bankable Feasibility Study, planned for completion by the end of 2013.

*PORTFOLIO REVIEW*
Highlights:
 Tigers Realm Coal to focus effort on large, high quality Amaam Project in far east Russia
 Withdrawal from Landazuri project in Colombia

In January 2012 the Company announced the acquisition of the Amaam North tenement which significantly increased the scale of TIG’s activities and potential resource endowment in Chukotka.
With the increasing focus on far eastern Russia, TIG initiated a strategic review of its project portfolio to ensure that resources are allocated in a manner which will maximise shareholder value.


In light of the recent drill results and prevailing weakness in the global economic environment, the
Company considers the farm-in terms for the Landazuri option agreements are no longer commercially
attractive:
 TIG believes the potential to delineate sufficient tonnages of coal in the short to medium term is limited without substantial additional exploration expenditure.
 The commercial terms of the farm-in agreement are no longer aligned with the project scale or development timeline as a total of US$13.0M in option payments are still payable to the project vendors over the next 12 months as well as substantial exploration expenditure.
 Recent drilling results suggest that strip ratios at Landazuri are likely to be higher than originally
anticipated, resulting in higher cash operating costs than modelled in the scoping study, significantly reducing the economic robustness of the project.

The relinquishment of the Landazuri tenements will:
 Result in significant future cash savings which will be applied towards developing the strategically significant Amaam and Amaam North deposits – as at 31 March 2012 TIG’s cash on hand was $13.65M;
 Reduce TIG’s near term capital requirements – the Landazuri option agreements require US$13M in option payments over the next 12 months as well as substantial exploration expenditure;
 Reduce administrative costs and overheads associated with maintaining operations in multiple geographic locations; and,
 Free up management time to focus on the larger scale and strategically significant Amaam project.




TIG’s vision is to build a leading coking coal company. Based on the scale and quality of its Russian assets, the Company is confident it can achieve this vision with the Amaam Coking Coal Project alone.
Progress at Amaam has been excellent, with recent drilling increasing Inferred Resources1 to 406Mt coking coal with an additional exploration target of 180-280Mt


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## springhill (17 July 2012)

TIG have a company presentation out for those interested.
http://www.asx.com.au/asxpdf/20120717/pdf/427g21kxj16b2s.pdf


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## Agentm (18 July 2012)

springhill said:


> TIG have a company presentation out for those interested.
> http://www.asx.com.au/asxpdf/20120717/pdf/427g21kxj16b2s.pdf




hey springhill

i will be topping up in the coming weeks

amman north from what i understand could be larger than the ammam prospect (currently 406Mt Inferred Resource) , i recall owen telling me about a number.. lets say 2 billion.  remember that number...



Pure play coking coal development company
Large scale, high quality coking coal project well positioned to supply the seaborne market
Strategic land holding in emerging Bering coal basin
Strong long term market fundamentals for high quality coking coal





Project incorporates two coking coal sub-basins held under separate title

Amaam tenement (40%, earning 80%) – 406Mt Inferred Resource

Amaam North tenement (80%) – recently acquired, pending drilling

High vitrinite content (>90%) coal with exceptional coking properties - CSN of 9 and fluidity of 6,500Mddm

Sheltered, deep water port site expected to provide year round shipping

*TIG well positioned to further consolidate position*


springhill,  that last one.. about further consolidating its position there is an aspect i always think about,  when they came on the scene with ammam, i suggested in my questions to management that surely that one permit cant be only part of that region that has a high grade coking coal deposit.. my answer was that that my assumption would be correct.  when ammam north was added i was not surprised,  and to see the 
*TIG well positioned to further consolidate position  *statement still standing, it suggests to me the 2 billion number owen talks about is obvious still to reveal itself.


plenty of news to come imho, and i am still not inclined to pass over the latest offer tig has given its shareholders..


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## springhill (18 July 2012)

Agentm said:


> hey springhill
> 
> *TIG well positioned to further consolidate position*
> 
> ...




Thanks for that information Agent. Has a few more shares than I would usually like, but a potential quality project can over ride that fact in my mind.
TIG has my attention.

When did you last converse with management?


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## Agentm (18 July 2012)

i attend all the meetings, here in melbourne, and basically everyone at tigers lives in the same postcode as i do

i see a few of the tigers people around a lot, know some from way back at MPI, 

the comments from owen came when they were doing the tigers minerals presentation here in melbourne to shareholders and stakeholders.. and manini was doing a short presentation on TIG aspect of the business. owen was playfully interjecting from the floor..

the shareholders are all locked in. there is no exits really, they all see the end game and the quality of the personnel at tigers minerals and tigers realm are staggering.

ammam is a tier one prospect, and if you understand martins background then you know the project was in bhp's grasp one before and management at bhp made some big calls on future pipeline projects, so many projects got shelved.. ammam found its way into tigers realm, and so has ammam north..

imho there is more there... far more to come ...


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## Agentm (5 July 2013)

ammam north turned out nice

they suggested the ammam north costing will be dramatically low... with the base cost price across all of coking coal projects at rio currently at the coking coal price, if they shut down their mones (25% of the market share) then its got a long long way to go before the likes of TIG are impacted,, as tony said at the agm, some 75% of the coking coal operators have to go broke before amman and ammam north are impacted and are no longer viable..  can this be said for the other coking coal microcaps??

the pfs will be revealing..  imho 

*SIGNIFICANT NEW, HIGH QUALITY, COKING COAL RESOURCE DELINEATED AT AMAAM NORTH*


*Initial JORC compliant Resource of 26.8Mt including Measured and Indicated Resources of 11.8Mt for Deposit F at Amaam North *

Pre-feasibility study on a low capital cost, low operating cost, open pit, coking coal mine at Amaam North is due for completion in Q3 2013

Highlights:

An initial JORC compliant Resource of 26.8Mt has been defined for Amaam North comprising 7.2Mt Measured, 4.6Mt Indicated and 15.0Mt Inferred

This initial Resource is at Project F, a small part of the Amaam North Licence where thick, near surface, shallow dipping coal was delineated in a 40 hole drilling program completed in April 2013

This Resource provides an excellent foundation for the development of initial mining operations at Project F. Ongoing field mapping and drilling programs will test the broader potential of this highly prospective licence where TIG has outlined an Exploration TargetE of 30-430Mt

Work continues at pace on the Project F Pre-feasibility Study (PFS) to be completed in Q3 2013, and Definitive Feasibility Study (DFS) to be completed in Q1 2014


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## Agentm (6 December 2013)

trading halt till next week

cap raising

may be a turning point for the share


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## debtfree (5 October 2021)

This needs an update, 8 years since last post. I seen this come up in my scans when looking for a selection for the October Comp. Short story, I gave it the flick   but thought I must still give it a mention/update.

*Stockhead today:* *$305m market cap coal producer Tigers Realm up 53% over the past week as global prices soar*

TIGERS REALM COAL (ASX:TIG) _*(Up on no news)*_​The $305m market cap coal producer is up 53% over the past week alone as global prices soar.
TIG may be even more exposed to the booming Chinese coal import market than any other company on the ASX, given it sells its product out of the Bering basin in far east Russia.
Tigers Realm enjoyed the benefits of seeing prices for non-Australian hard coking coal soar in the back end of the 2021 financial year, doubling revenue to $14.765 million and reducing its losses by 98% from $17 million in 2020 to just $292,000 in 2021.
This quarter is looking even better. Chinese prices for premium hard coking coal out of jurisdictions like Russia recently hit new historical highs.
It means TIG, despite being a relatively modest producer with 2021 coal sales guidance of 750,000-800,000t, is beginning to capture the attention of investors.

Owen Hegarty’s Tigers Realm Coal (ASX:TIG) may be even more exposed to the booming Chinese coal import market than any other company on the ASX, given it sells its product out of the Bering basin in far east Russia.
Remember, Australian coal, no good in China. Putin’s coal, A-OK.
Tigers Realm enjoyed the benefits of seeing prices for non-Australian hard coking coal soar in the back end of the 2021 financial year, doubling revenue to $14.765 million and reducing its losses by 98% from $17 million in 2020 to just $292,000 in 2021.
This quarter is looking even better. Prices for premium hard coking coal out of jurisdictions like Russia hit new historical highs of US$450.61/t and US$425.11/t for hard coking coal in China on Monday. Just crazy stuff.
It means Tigers Realm, despite being a relatively modest producer with 2021 coal sales guidance of 750,000-800,000t, is beginning to capture the attention of investors.
Tigers Realm was up 42% over the past week and 113% over the past month to lead all ASX coal stocks for gains and soar to a market cap of $235 million.


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## Ann (13 March 2022)

TIG was recently added to the S&P All Ords index at S&Ps quarterly March rebalance. I am not sure I will be rushin' in to buy a Russian coaler!  😛


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## Ann (30 March 2022)

This is yesterday's chart, so far today *TIG *has risen well. It is above the 200dma and also above the short term falling trendline. Normally this would be a stock I would have bought by now. The fact that it is doing business in Russia and with the current climate I would always be concerned Russia could just grab the mine and tell the company to rack off. If this happened then I would suggest the company could end up in a never-ending trading halt with my money tied up until it began trading again at some time in the distant future, after doing a massive share consolidation (reverse split). This is one of those companies that even using a pair of BBQ tongs would not give me the confidence to hold.


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## bux2000 (31 May 2022)

I have entered TIG in the June Stock Picking Competition.
It showed up in a scan tonight with a rising chart with a little volume, but with coking coal miners being on the up recently I thought it worth a punt.
It seems the first Shipments from the mine are eminent.



			https://www.tigersrealmcoal.com/
		


bux


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## greggles (24 October 2022)

TIG share price is up 21.43% today following the release of the September 2022 Quarterly Production and Activities Report, which indicates that Chinese demand for coal, which represents 80% of TIG's sales, remains strong. 

Operations also appear to be running relatively smoothly with an increase in overall sales guidance. The war in Ukraine has created opportunities in Europe with Russian coal deliveries being suspended. Short term this could provide some momentum for TIG.


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