Obtained second concession, PT Kuansing Inti Makmur (“KIM”) in Jambi
GMR became a strategic shareholder and signed a 25-year coal off-take agreement
Completed statutory compliance placement on 9 December 2016
Entered into CSPA for 5th concession, PT. Barasentosa Lestari (“BSL”)
Maiden Interim Dividend paid out on 4 September 2017
Selective share capital reduction completed
Strategic alliance and capital injection of A$67.86million in Westgold Resources Limited (“Westgold”), Australia’s Top 10 gold producer listed on the ASX
Maiden bond issuance of 9% US$150,000,000 Senior Secured Notes due 2023.
Completed acquisition of BSL
Acquired 19.9% of Stanmore Coal Limited (“Stanmore”) – a Brisbane based metallurgical and thermal coal miner – and launched off-market takeover bid to acquire Stanmore
Secured term loan facility of A$150,000,000 with Credit Suisse AG, Singapore Branch
Obtained first time rating of B+ with positive outlook by Fitch Ratings and B1 with stable outlook by Moody’s Investor Service.
Off-market takeover bid concluded and with subsequent off-market block transaction, total stake in Stanmore increased to 28.42%
Divested interests in Westgold Resources Limited for profits
Second bond issuance of 8.5% US$285,000,000 Senior Secured Notes due 2026