# XCD - Xceed Resources



## System (16 April 2011)

Xceed Resources Ltd. (XCD) was formerly known as Xceed Capital Ltd.

Xceed Resources plans to develop its 74 per cent-owned Moabsvelden thermal coal project in South Africa, with construction to commence later this year before first production in first quarter 2013.

The project has a JORC thermal coal resource of 55 million tonnes.

http://www.xceedcapital.com


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## springhill (5 August 2012)

*MC - $4.5m*
SP - 7c
Shares - 65m
Options - Nil
*Cash - $7m*

MC:Cash ratio of 1:1.6, always a positive for me. Cash burn this quarter 900K, still leaving them with a very healthy MC:Cash.
Positive news due this quarter, making this a candidate for a SP turn around.
Worth watching IMO

Key Points:
● Memorandum of Understanding signed with Thebe Mining Resources to become cornerstone investor and invest A$11m into development of the Moabsvelden thermal coal project.
● Indicative, non-binding project development funding offers covering 60% of the capital costs for Moabsvelden received from banks.
● Moabsvelden Environmental Impact Assessment and Management Plan finalised and submitted.
● Maiden resource of 29 million tonnes established at Roodepoort project.
● Geological modeling of Bankfontein project advanced

*Moabsvelden*
Following the completion of the Moabsvelden bankable feasibility study in the March quarter, the primary focus of the Company during the June quarter has been to advance the process of obtaining funding for the development of the Moabsvelden colliery.
This process, which involved the Company undertaking a series of technical briefings to potential debt and equity providers, has resulted in the signing of a Memorandum of Understanding with a proposed cornerstone equity investor, Thebe Mining Resources Pty Ltd (TMR), and the short listing of two potential debt providers, Rand Merchant Bank and Standard Bank. Details of these developments were announced to the market on 11 July 2012.

Project Development Loans
During the June quarter, the Company held discussions with a select number of South African commercial banks. Following this process, two banks, Rand Merchant Bank and Standard Bank, have been short listed, to advance their indicative, non-binding offers of finance to credit approved status. These offers of finance each account for approximately 60% of the forecast development cost of ZAR266m (A$33m) for Moabsvelden and in addition, include offers of working capital facilities of ZAR50m (A$6m).
An independent technical review of the Moabsvelden feasibility study on behalf of the shortlisted banks is scheduled to be completed during the September quarter. A successful outcome of this review will enable the banks to present credit approved offers of finance to the Company, which is expected to occur during the third quarter this year. The introduction of TMR as a financially capable shareholder, which has established relationships with a wide range of South African financial institutions, is expected to greatly assist the process of obtaining final credit approvals.

Environmental Impact Assessment / Environmental Management Plan
The Company has completed the preparation of an Environmental Impact Assessment and Environmental Management Plan for the Moabsvelden project and has lodged these documents with the Department of Mineral Resources in South Africa.

*Roodepoort (XCD interest: 15% - acquiring 70%)*
During the March quarter the Company undertook a first phase exploration drilling programme on the Roodepoort project.
The Roodepoort project is situated in the middle of the Witbank coal field, approximately 50km east of Moabsvelden, and near the Matla and Kriel coal fired power stations. The project comprises two portions (Roodepoort 40 IS and Diepspruit 41 IS) which straddle the neighbouring Roodekop (Diepspruit 63 IS) coal project.
The Company’s independent geological consultants have now modelled the results of the first phase exploration programme and have reported an in-situ coal resource of 29.3 million tonnes
See June quarterly for breakdown of resource.
The raw coal qualities indicate that the coal could be suitable for the domestic market (Eskom) and will probably not be suitable for the higher value industrial and export markets, even though there are plys within the seams which contain higher quality coals.
The Company will undertake a desk top study to consider the potential development scenarios for Roodepoort as a prelude for further fieldwork.

*Bankfontein (XCD interest: 15% - acquiring 70%)*
Geological modeling of the Bankfontein project situated in the Ermelo coal field is currently at an advanced stage and Gemecs (Pty) Ltd, the Company’s consultant geologists, are expected to complete their Competent Person’s Report shortly.

*Plans for September Quarter*
During the September quarter the Company intends to:
● Execute the formal legal agreements relating to the TMR investment,
● Advance indicative bank offers of finance to credit approved status,
● Advance negotiations with mining contractors and plant manufacturers,
● Continue discussions with Eskom for coal off-take and power supply agreements, and
● Undertake further exploration and evaluation studies on Roodepoort and Bankfontein projects.


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## springhill (28 August 2012)

Presentation from XCD.
http://www.asx.com.au/asxpdf/20120828/pdf/428b1sbk1b9vlg.pdf


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## System (27 February 2014)

On February 26th, 2014, Xceed Resources Limited (XCD) was removed from the ASX's official list following the merger by scheme of arrangement between the company and Keaton Energy Holdings Limited.


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