JSW increases its investments and assumes an increase in coal mining
March 15, 2019, 2:06 PM
https://www.energetyka24.com/jsw-zwieksza-inwestycje-i-zaklada-wzrost-wydobycia-wegla
JSW, aiming to expand its resource base, would like to agree with Prairie Mining on basic terms of the transaction (term-sheet) regarding the possible takeover of control over JSW assets by JSW: the Debiensko deposit (JSW could in a short time during this time, approx. 0.5 million tons of coal from the Knurów-Szczyglowice mine site should be obtained from there, and 2.5 million tons eventually after the shaft was built) and Jan Karski in the Lublin region, where there is type 34 coking coal.
The chairman assured that the company's management board would inform shareholders (including the energy department) and the supervisory board on the progress of talks with Prairie Mining, but only after the term-sheet was negotiated, it would be possible to formally approve the company's bodies that must consent to the potential transaction.
looks like the final part of the jigsaw now the price would have too be between 100-250p
https://hotcopper.com.au/threads/takeover-jsw-moves-to-the-next-phase-of-talks-with-prairie-mining.4676898/#post-37795950
Thursday, March 21 (11:48)
JSW, aiming to expand its resource base, would also like to conclude by the end of April with Prairie Mining regarding the basic terms of the transaction (the so-called term-sheet) concerning the potential takeover by JSW of control over the assets of this company: the Debiensko deposit and the Jan Karski deposit Lublin region.
The reasons for submitting a request for a break in the general meeting were not provided. The deliberations are to be resumed on Wednesday, April 3 at 11 at the company's headquarters in Jastrzebie-Zdrój.
On the agenda of the extraordinary general meeting, in addition to the decision on granting consent to take over the enterprise construction Szybów (PBSz), there is also a decision regarding shareholders' consent to establish property collateral, necessary to obtain by JSW a total of over PLN 1 billion in financing.
As announced last week by the president of Daniel Ozon, after positive decisions of the general meeting, the finalization of agreements related to obtaining financing would take place in April. Funding worth PLN 760 million is to be granted by a consortium of institutions: ARP, BGK, Pekao SA, PKO BP SA and ICBC (Europe) SA.
