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Media Room

White Rock makes a play for AuStar

ASX-listed White Rock Minerals on Thursday announced plans to acquire fellow listed AuStar Gold, offering shareholders 0.78 White Rock shares for every AuStar share held.

The offer implied a price of 43.5c each for AuStar’s shared, representing a premium of 47% on AuStar’s last trading price and a 56% premium to the company’s one-month volume weighted average share price.

Golden Rim raises exploration funds

Junior Golden Rim Resources has raised A$5-million through a share placement to advance exploration at its Kada gold project, in Guinea, and its Kouri gold project, in Burkina Faso.

The ASX-listed company on Tuesday announced that it would issue more than 555.55-million shares, at a price of 0.9c each to qualified institutional, sophisticated and professional investors.

Weekly Coal Index Report

As January rolls off the trading calendar, RB1 levels are shifting down towards $85. However, 2021 looks to be a bumper year for SA coal exports. Most Asian countries are ramping up demand as new coal-fired capacity comes online, whilst countries such as India and Pakistan are experiencing higher demand from both the sponge iron and cement sectors.

MC Mining's sales hold firm

Coal exploration, development and mining company MC Mining says its Uitkomst metallurgical and thermal coal mine experienced absenteeism as a result of the impact of the pandemic, which resulted in a 14% year-on-year decline in run-of-mine coal production to 108 945 for the three months ended December 31, 2020.

Coal wins curious reprieve in Biden’s assault on climate change

President Joe Biden enlisted the entire US government in the fight against climate change on Wednesday, even telling the Central Intelligence Agency to consider global warming a national security threat.

Yet he left out coal -- the fossil fuel most widely blamed for global warming -- when he froze the sale of leases to extract oil and gas from federal land.