GEAR TIMELINE
Obtained first coal concession, PT Borneo Indobara (“BIB”) in South Kalimantan
Obtained second concession, PT Kuansing Inti Makmur (“KIM”) in Jambi
Became a wholly-owned subsidiary of PT Dian Swastatika Sentosa Tbk (“DSS”)
The company was renamed as PT Golden Energy Mines Tbk on16 November 2010 – Obtained third concession, PT Trisula Kencana Sakti (“TKS”) in Central Kalimantan
GEMS was listed on the Indonesia Stock Exchange in Nov 2011
GMR became a strategic shareholder and signed a 25-year coal off-take agreement
UFS acquired 66.9998% of GEMS on 20 April 2015
UFS renamed as Golden Energy and Resources Limited (GEAR) on 21 April 2015 following completion of the RTO of UFS on 20 April 2015
Completed statutory compliance placement on 9 December 2016
Resume listing on SGX-ST Main Board on 12 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
Obtained first time rating of B+ with positive outlook by Fitch Ratings and B1 with stable outlook by Moody’s Investor Service.
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
Off-market takeover bid concluded and with subsequent off-market block transaction, total stake in Stanmore increased to 28.42%
Launched GEAR Innovation Network (“GIN”) on 29 April 2019, supported by the Singapore Economic Development Board, to focus on digital technologies to transform capital expenditure-intensive industries
Incorporated on 16 May 2019, GEAR Renewables Pte. Ltd. seeks to invest in renewable energy projects, with the aim of becoming carbon neutral
Acquired Ravenswood Gold in Queensland, Australia, marking the Group’s second investment in gold in Australia (50-50 JV with EMR Capital)
GEAR through our subsidiary, Golden Investments (Australia) Pte Ltd increased shareholding in Stanmore Coal from 31.35% to 75.33%
Divested interests in Westgold Resources Limited for profits
Secured A$265m financing for Ravenswood Expansion
GEMS resumed trading on IDX on 30 April 2021
Second bond issuance of 8.5% US$285,000,000 Senior Secured Notes due 2026
Completion of Millennium and Mavis Downs Mine acquisition on 13 July 2021
Secured mining leases approval for Issac Downs Project
Acquisition of minority stake (15%) in Allegiance Coal
Signed Share Purchase Agreement with BHP Minerals to acquire 80% interest in BHP Mitsui Coal
Acquisition of remaining stake (~20%) in GIAPL from ascend
Raised net proceeds of S$86.4 million with placement of 285 million new ordinary shares at S$0.305 each
Bond Retap of US$90M in addition to existing US$285M, 8.5% Senior Secured Notes due 2026
Fitch reaffirms GEAR’s credit rating at ‘B+’ and revise outlook on GEAR from Stable to Positive
Completion of Stanmore Resources Limited’s acquisition of 80% interest in BHP Mitsui Coal Pty Ltd (now known as Stanmore SMC Pty Ltd – “SMC”)
Executed definitive share sale agreement for Stanmore to acquire remaining 20% interest in SMC held by Mitsui & Co. (Australia) Ltd and Mitsui & Co., Ltd (together, “Mitsui”)
Stanmore completed acquisition of remaining 20% interest in SMC from Mitsui. SMC is now a wholly-owned subsidiary of Stanmore