ATU - Atrum Coal

[springhill]

ATU hit the boards on Friday. Official quotation will begin Tuesday.

MC - $20.4m
SP - 20c
Shares - 101m
Cash - $8.4m

Partly paid shares - 38,125,000
Performance rights - 11,050,000
Shares on issue (fully diluted) - 150,912,500

MAJOR SHAREHOLDERS
Directors and Key Management 38.1%
Top 20
http://www.asx.com.au/asxpdf/20120720/pdf/427hyxy7t1t5bk.pdf

Board
JAMES CHISHOLM NON EXECUTIVE CHAIRMAN
DR ERIC LILFORD NON EXECUTIVE DIRECTOR
RUSSELL MORAN EXECUTIVE DIRECTOR
GINO D’ANNA EXECUTIVE DIRECTOR

GROUNDHOG COAL PROJECT
• 14,472 hectares (100% owned)
• 50Mt JORC Inferred Resource & 390-510Mt Exploration Target
• Open cut targets
• Rail easement running through property approximately 30km on to heavy gauge rail
• Two port options c.1,200km by rail in Port of Prince Rupert & Vancouver Metro
• Infrastructure solution mimics POSCO’s 2.8 billion tonne metallurgical coal deposit ~ 30km north of Groundhog at Mt Klappan

PEACE RIVER COAL PROJECT
• 5,325 hectares
• Initial 0-25Mt Exploration Target
• Located in a known coking coal region with 4 operating coal mines within a 40km radius of the project area
• Significant resource development projects within the Peace River coalfield
• In close proximity to Walter Energy, Xstrata, Cadero Resources, Anglo American and Teck Resources
• Extensive road access to property, located within 16km of Tumbler Ridge

NASKEENA COAL PROJECT
• 11,400 hectares (100% owned)
• 200-250Mt Exploration Target
• Open cut targets
• 25 diamond drill holes and 8 trench samples completed between 2006 and 2008
• Simple truck and shovel operation potential with export through Port of Prince Rupert
• Historical coal seams of 0.3 – 1.5m thick
• Potential near term production profile

BOWRON RIVER COAL PROJECT
• 3,750 hectares (100% owned)
• Contiguous with Phalanx Coal 49Mt Resource
• 35km from rail siding at Hansard
• Lower seam has an average thickness of 3.4m whilst the upper seam has an average thickness of 2.4m
• Lower seam is continuous in the south and east of the project area as demonstrated in 1981 drilling

CANADA’S EXPORT ADVANTAGE
• Canada exports ~27Mtpa of coking coal each year and is ranked second in the world
• Low sovereign risk
• Favourable regulatory environment
• Extensive infrastructure;
• extensive railway
• cheap power
• deep water sea ports
• high quality road network
• Comparable shipping distance to Asia when compared to that of the east coast of Australia

I am really starting to warm to Canada's future coal potential compared to ours. JAL has had a nice run lately, will be watching this for any weakness after initial commencement of trading.

 

[springhill]

ATU commenced trade today.

Volume - 1.747m
High - 19c
Low - 17c
Close - 18c

Not the best opening day, but plenty of potential here.

 

[springhill]

ATU investor presentation.
http://www.asx.com.au/asxpdf/20120725/pdf/427kzyl3h3drk5.pdf

Traded as high as 20.5c today.
Closed at 20c
516,000 traded.

 

[springhill]

DIRECTORS INCREASE STAKE THROUGH ON MARKET BUYING

Emerging metallurgical coal explorer, Atrum Coal advise that the Directors of the Company acquired additional shares on-market during the first four trading days since the Company’s listing on the ASX.The on-market buying illustrates the Directors’ strong belief in the Company’s exploration and development strategy.

 

[springhill]

NOTICE OF WORK PROGRAM LODGED FOR GROUNDHOG COAL PROJECT

*
Atrum lodges NoW with the British Columbia Ministry of Energy and Mines detailing its exploration activity at Groundhog Coal Project
*
Upon approval, the NoW will enable Atrum to undertake detailed exploration at Groundhog for 3 years including drilling, mapping, trenching and the potential to remove a bulk sample for testing and marketing purposes with potential customers
*
NoW includes 80 drill holes designed to define the extent and grow the coal resources within the central core area of the project and to test the strike and depth extensions of the coal seams
*
2012 field exploration program to include 16 diamond drill holes for 5,000 metres designed to expand the current JORC Inferred Resource, enhance the quality and confidence of the existing resource and delineate Indicated Resources, and test additional resources at depth
*
Coal quality analysis including proximate analysis, ultimate analysis, petrographics and tests focussed on defining characteristics important to the metallurgical coal market, will be completed on coal core samples collected from this drilling campaign
*
Moose Mountain Technical Services have been retained to support the Company’s Canada based technical team during the exploration program
*
Preparatory work including an updated geological model is well advanced
*
Drilling expected to commence in September 2012

 

[springhill]

ATRUM COMPLETES 100% ACQUISITION OF STRATEGIC NASKEENA PROJECT

-Atrum has successfully completed the 100% acquisition of the Naskeena (North) Coal Project and the Naskeena (Central) Coal Project, located in British Columbia, Canada
- Consolidation of 11,400 hectares of contiguous coal tenure prospective for metallurgical coal and ‘lock up’ of the majority of the Naskeena Coalfield
-Naskeena independently verified as hosting an Exploration Target of between 200Mt and 250Mt
-Substantial historical mapping, trenching, sampling and drilling by previous explorers demonstrating strong project potential
- 2007 trenching program carried out by a previous explorer identified a surface coal seam with a strike length of 30m
- 25 diamond drill holes for 2,525m completed by Jet Gold Corp in 2007 and 2008 intersected multiple coal seams ranging from 0.3m to 2.4m thick, at depths from surface down to 70m
- Naskeena boasts excellent road infrastructure with direct access to deep sea ports, high ranking coal, numerous coal exposures, simple ‘truck and shovel’ operation potential, and offers significant exploration upside with untested areas

 

[springhill]

ACQUISITION OF HISTORICAL EXPLORATION DATA AT NASKEENA COAL PROJECT


-
Atrum has successfully acquired the historic exploration database in relation to its 100% owned Naskeena project located in British Columbia, Canada

-
Naskeena has been independently verified as hosting an Exploration Target of between 200Mt and 250Mt under Section 18 of the JORC Guidelines

-
The Data Set consists of physical drill core, drill intersection logs, geophysical logs, site images, fieldwork maps and core sample analysis

-
The Company is currently reviewing this information with a view to advance resource modelling as a first priority

-
Naskeena boasts excellent road infrastructure with direct access to deep sea ports, high ranking coal, numerous coal exposures, simple ‘truck and shovel’ operation potential, and offers significant exploration upside with untested areas

 

[springhill]

Broker presentation.
http://www.asx.com.au/asxpdf/20120813/pdf/427zg2sgrr8ck3.pdf

 

[springhill]

NOTICE OF WORK PROGRAM APPROVED FOR GROUNDHOG COAL PROJECT


-Atrum receives exploration approvals from the British Columbia Ministry of Energy and Mines for its NoW detailing its activity at Groundhog

-The NoW will enable Atrum to undertake comprehensive exploration at Groundhog for 3 years including drilling, mapping, trenching and the potential to remove a bulk sample for testing and marketing purposes with potential customers
-
First Nations relationship strengthened under long term employment and training platforms
-
2012 field exploration program to include 16 - 18 diamond drill holes for 5,000 metres designed to expand the current JORC Resource across Inferred, Indicated and Measured categories, as well as test additional coal resource inventory at depth
-
Moose Mountain Technical Services have been retained to support the Company’s Canada based technical team during the exploration program

-Preparatory work including an updated geological model is well advanced

-Drilling to commence mid-September 2012 with mobilisation to site already underway

 

[springhill]

DRILLING, HELICOPTER AND CAMP LOGISTICS CONTRACTS AWARDED AT GROUNDHOG


- Atrum has awarded key contracts for drilling, helicopter support and camp logistics as part of the exploration activities at Groundhog for the 2012 field exploration program
-
Highly experienced Driftwood Diamond Drilling awarded drilling contract with rig mobilisation to take place on Thursday 13th September 2012
-
CJL Enterprises Limited awarded camp construction and logistics management contract
-
Lakelse Air Limited awarded helicopter operator contract to enable drill rig mobilisation, demobilisation and crew mobilisation

- Camp construction, materials mobilisation and crew mobilisation commenced with drilling on schedule to take place Monday 17th September 2012

- 5 week drilling program with ultimate, proximate and petrographic coal quality results expected before the end of 2012

- Resource modelling and product assessment to take place following completion of drill program and receipt of coal quality analysis

 

[springhill]

APPOINTMENT OF LYLE HOBBS AS CHIEF EXECUTIVE OFFICER

-
Appointment of Mr Lyle Hobbs as Chief Executive Officer of Atrum Coal, a significant milestone for the Company as it transitions from explorer to developer
-
Mining Engineer with an MBA and a strong production and logistics focus
-
Major rail and port stakeholder experience
- Managed the Washington coal port project development for Ambre Energy Limited
-
24 years Canadian coal experience including 18 years with one of Canada’s largest coal mines

Focused Canadian metallurgical coal explorer, Atrum Coal announce the appointment of Mr Lyle Hobbs P.Eng MBA as Chief Executive Officer.
This marks a significant milestone for the Company as it makes the transition from explorer to developer. Mr Hobbs has a strong background in logistics and project development which was a key driver for the appointment.
Mr Hobbs has 24 years experience in engineering, operations and project management within the natural resources industry. He has fulfilled a number of senior management roles with Ambre Energy, AMEC Americas, Shell Canada, Luscar Coal and Fording Coal.
Mr Hobbs spent 18 years at the Highvale/Whitewood coal mines where he was responsible for managing the 13.5Mtpa coal operation, one of Canada’s largest coal operations. Most recently he was Chief Engineer for Ambre Energy’s North American Alternative Fuels venture where he managed the North American Coal to Liquids and Shale Oil activities. Most notably, he was the Project Manager for the acquisition and infrastructure upgrade of the Washington coal port.

 

[springhill]

Really impressive jump today by ATU resulting from todays announcement.

ATRUM COAL UPGRADES THE GROUNDHOG ANTHRACITE COAL RESOURCE 113% TO 338MT
HIGHLIGHTS
- JORC resources at Groundhog increased by 113% to a global open cut coal resource of 338Mt across Indicated (106.9Mt) and Inferred (230.9Mt) categories
- 85.3 Mt between 0 and 50m depth with attractive indicative ROM strip-ratios
- >80 % of the coal resource between 0 and 150m depth
- Further resource upgrade expected March 2013 following additional structural interpretation and modelling
- Preliminary washed clean coal quality data from the 2012 drilling program is expected by the end of January 2013

Research note by Dayton Way from early Jan at link below.
http://atrumcoal.com/wp/wp-content/uploads/2013/01/Atrum-Coal-NL-Research-Note-4-Jan-2013.pdf

 

[Country Lad]

Nice breakout so far today going nicely according to the script.

Cheers
Country Lad



I hold from $0.60 break

 

[berbouy]

looks like you are a one man support team here, springhill!-till country lad posted.if you have been in since listing, well done, i like the look of atu and its an impressive chart.this stock has a tight registry by the looks of things-and i think that 1 dollar cannot be far off-just from the trajectory of the ascending trendline.
have a good weekend.

 

[springhill]

looks like you are a one man support team here, springhill!-till country lad posted.if you have been in since listing, well done, i like the look of atu and its an impressive chart.this stock has a tight registry by the looks of things-and i think that 1 dollar cannot be far off-just from the trajectory of the ascending trendline.
have a good weekend.

Gets a bit lonely in this thread

I never entered ATU berbuoy, I was hoping for a bit of a post float drift in share price. Obviously that did not eventuate.

I was remotely aware of ATU's upward movement but I am caught up in some industry dramas lately, so I am unable to maintain a close watch on the market as diligently as I would like. Unfortunately there are a lot of problems in horticulture that are sucking away considerable amounts of my time.

 

[habanero]

Was trying to dump ATU on open because of the tweezer top. I didn't even realize it had gone into a trading halt.

I checked back on announcements and don't see any halts for resource upgrades. So what are people's expectations here ? I listened to the BRR and we were told this upgrade was coming. So may be price in?

 

[springhill]

The fall in share price of ATU has been even more spectacularly rapid than the rise.

Anyone game to pick a bottom based on chart analysis on this fall?

 

[Country Lad]

Anyone game to pick a bottom based on chart analysis on this fall?

The announcement after the market close on Thurs seems to have appeased the market resulting in a 29% rise in price with good volume.

ATRUM COAL COMPANY AND STRATEGY
UPDATE AND SHARE PRICE MOVEMENT
Atrum Coal NL (“Atrum” or the “Company”) (ASX: ATU) would like to take this opportunity to update shareholders and investors on the current share price volatility and movement in the Company’s listed securities over the past two (2) weeks.

The Company is aware of mini warrants which have been issued over ATU fully paid ordinary shares by Credit Suisse (ASX: ATUKCA). The Company is currently reviewing a number of options that will enable the ATUKCA mini warrant series to be cancelled.

Atrum confirms that the focus remains on the development of the Groundhog Anthracite Project (“Groundhog”) and is finalising its 2013 exploration activities which consists of in-fill reserve definition drilling, bulk sampling, further coal quality analysis and baseline environmental studies.

The Company is progressing with project permitting and is targeting the completion of its pre-feasibility study by Q4 2013.

Cheers
Country Lad

 

[Country Lad]

Announcement today.

ATRUM COAL MINI WARRANTS UPDATE
Further to the announcement dated 18 April 2013, Atrum Coal NL (“Atrum” or the “Company”) (ASX: ATU) would like to provide shareholders and investors with an update on the status of mini warrants issued over ATU fully paid ordinary shares by Credit Suisse (ASX: ATUKCA).

The Company was informed on Friday, 19 April 2013 that the ATUKCA mini warrants were repurchased
and the series cancelled. The Company would like to thank Credit Suisse, Blackwood Capital Limited and Shaw Stockbroking for working closely with the Company to have the ATUKCA mini warrants closed in a timely
fashion.

The Company is strongly opposed to the issue of mini warrants on small or mid-cap mining companies as they have the potential to distort an orderly market. It is the intention of the Company to make a formal complaint to the ASIC and ASX to this effect.

We would like to thank our loyal shareholders for their support during this time and your Board looks forward to delivering on its vision for 2013.

Cheers
Country Lad

 

[Murta]

Atrum Coal uses unauthorized data in their IPO

My company notified Atrum of the fact that they were in posession of technical information that it had not received permission to use. I wonder if that means that if the lawsuit goes against Atrum, will they have to pay all 18M back?

I am also wondering why they have not disclosed the lawsuit. They will probably try to argue that it is Atrum Coal Groundhog Inc., a wholly owned subsidiary of Atrum Coal NL that is being sued so they should have no reason to report!

There is something pretty smelly in the air around the Groundhog.