Strategic Natural Resources

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SNR intends to develop, own and manage natural resource extraction enterprises in southern Africa. SNR will concentrate, initially, on managing the development of and the investment in the Elitheni Mine, in the Gubahoek/Macubeni area of the Eastern Cape. Further opportunities both in South Africa itself and elsewhere in the southern part of the continent will be followed up as they arise. The company’s main country of operation is the Republic of South Africa.

Website:
http://www.snrplc.co.uk
Phone:
+44 (0)20 3328 5668
Address:
3 St Helens Place, London EC3A 6AB.
Super Sector:
General Mining - Coal
Sector:
Mining
Industry:
Coal
EPIC / Symbols:
LON:SNRP
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Strategic Natural Resources RNS Press Releases

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Strategic Natural Resources Articles and News

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Strategic Natural Resources Related Media

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Strategic Natural Resources market reports

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Broker press

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  • 30/04/12
    +2.38 +32.63

    Press: Strategic Natural Resources rose on hopes it would soon announce an updated resource estimate for its Elitheni coal mine in South... read more

  • 25/08/11
    +2.50 +16.25

    Press: Strategic Natural Resources rose following a fundraising backed by its largest shareholder. The group said it had raised GBP1.9m of... read more

  • 25/07/11
    +2.13 +19.13

    Press: Strategic Minerals rose after announcing it is in early stage talks regarding a potential acquisition. Dealers heard the deal could be... read more

  • 10/01/11
    +4.25 +21.50

    Press: Strategic Natural Resources rose strongly on heavy volume after a large stock overhang was cleared. Coal of Africa, with a 19% holding,... read more

  • 06/09/10
    +1.75 +11.75

    announces that there is no information contained within the article published by the Sunday Express on Sept. 5 not currently available in the public domain. MAIN FACTS: -The article mentions the company?s recently updated CPR and ongoing Export Feasibility Assessment Study currently being carried out by... read more

Director dealings

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Date Director Trans Amount Type Price(p) Value (£) Holding %
21/12/12 B.W. Nel SELL 3,100,000 ORD 25.50 790,500 11,000,000 6.50
18/12/12 D. Nicolson BUY 75,000 ORD 26.50 19,875 100,000 0.06
17/12/12 D. Nicolson BUY 25,000 ORD 26.38 6,595 25,000 N/A
01/08/12 A. Brennan BUY 50,000 ORD 19.35 9,675 80,000 0.05
25/07/11 J.P. Metcalfe BUY 55,522 ORD 18.00 9,994 2,972,672 2.72

BASIC RESULTS INFORMATION

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Date Type Turnover Profit EPS (p) Dividend (p) Currency
31/08/12 Interim 0.00 -1.09 -0.50 0.00 GBX
29/02/12 Full year 0.00 -2.00 -0.14 0.00 GBX
31/08/11 Interim 0.00 -0.98 -0.69 0.00 GBX
28/02/11 Full year 0.00 -2.74 -0.24 0.00 GBX
31/08/10 Interim 0.00 -0.47 -0.42 0.00 GBX

Presentations & Company Media

Company Statement

Strategic Natural Resources PLC (“SNR”) was established on 5 October 2004 as a vehicle to develop, own and manage natural resource extraction enterprises in Southern Africa.

As its first project, SNR acquired control of Elitheni Coal in the Eastern Cape some 200 miles north east of Port Elizabeth. The principal assets of Elitheni are a new order mining right over 92 km2 as well as new order prospecting rights over an additional 1,700 km2 for coal which it holds in the Eastern Cape, South Africa.

 

History

 

The first mines near Molteno and Indwe were opened in 1864 and 1877. The annual coal output from these mines reached a peak between 1900 and 1904 when production averaged 176,000 tonnes per annum. With the discovery of large deposits of coal in the former Transvaal and Natal Provinces closer to where major industrial development had commenced, production declined sharply in 1917 and ceased altogether in 1948. However, the Directors believe that, with the development of CFB Combustion Technology as well as local advancements in boiler combustion and increasing electricity prices large scale mining in this area is now economically viable. A coal mine based in the Eastern Cape will fuel the growing demand for heat, power and steam in South Africa.

Current Operations

As its first project, SNR acquired control of Elitheni Coal in the Eastern Cape some 200 miles north east of Port Elizabeth.

Elitheni coal and its licences

 

Elitheni has increased its prospecting rights area in the Eastern Cape province of South Africa by more than 2,000% from the initial Phase 1 and Phase 2 area of 9,283.80ha, granted in 2005, to practically 184,000ha today. The 184,000ha has been demarcated into Phases 1, 2, 3, 4 and 5. The latter having been named Project Indlovu. Full and exclusive new order mining rights have been obtained on Phase 1&2 (92 km2 area) and full and exclusive new order prospecting rights exist on the remaining Phases 3, 4 and 5 areas. New order prospecting rights give the holder the exclusive right to apply for and obtain mining rights over the area held.

 

The Company was admitted to AIM on 7th August 2007 on the basis of a resource under Elitheni’s control of approximately 15 million tonnes of coal in the Phase 1 and Phase 2 areas. Golder Associates, SNR's competent person has, in a recent updated competent persons report (the "Updated CPR"), confirmed an increase in Elitheni's resources from 97.2 million tonnes to 150.3 million tonnes, comprising, 45.6 million tonnes measured resource, 45.5 million tonnes indicated resource and 59.2 million tonnes inferred resource. An additional 53 million tonnes from recent drilling activity awaits confirmation from Golder Associates as competent persons. The additional drilling undertaken in relation to the Updated CPR spans an area of circa 3,000 ha. The area drilled to date amounting to approximately 50 kms of bore holes,  represents less than 5% of the total area available for drilling. Roughly 179,000 ha of Elitheni's total rights area remains available for further assessment by Golder Associates.

 

The Company has progressed significantly from these early days and, today is in the progress of ramping up to achieve a production capability of 1million tonnes per annum by 2013

 

Investor Strategy

 

The Company's main country of operation is the Republic of South Africa.

 

SNR is developing the Eastern Cape Coalfield in South Africa and is intent on becoming  a major coal producer and exporter in South Africa through its first mover advantage in a rich and forgotten part of the country. Further opportunities both in South Africa itself and elsewhere in the southern part of the continent will be followed up as they arise. .


Now, some 5 years later, SNR is the only major coal producer established in the Eastern Cape with its own rail line and dedicated sea port at East London. It is currently preparing the first 2million tonnes of coal for which it has a firm offtake agreement, for shipment.

The principal assets of SNR are held through its 74% owned subsidiary Elitheni Coal (Pty) Limited. The other 26% being held by its BEE partners.

 


Managment

Richard Henry Ringrose Latham, aged 68, Chairman

Richard Latham was appointed Chairman of Northern Petroleum Plc in 1999 and his career has been closely tied to the energy industry. He holds a MBA degree from Cranfield University and has spent most of his working life in the City - initially as an investment manager and for 27 years with companies in the upstream oil and gas industry. He was formerly deputy chairman of Aberdeen Petroleum Plc, chairman and managing director of Claremount Oil and Gas Limited and a non-executive director of Atlantis Resources Limited, a company listed on the London and Toronto stock exchanges.

As Chairman, Richard will Chair the Board of Directors and ensure that they provide proper direction and leadership. He will ensure compliance with the rules of the AIM Market of the London Stock Exchange. He will also Chair the remuneration committee.


Don Nicolson, aged 52, - Deputy Chairman

Don Nicolson has spent all his career in the energy sector. He worked for 26 years with BP where he managed large scale oil and gas businesses in the North Sea, the United States and Canada as well as holding senior roles in BP's Global headquarters in London. Key roles within BP included Chief of Staff for BP Exploration and Production and Director and Business Unit Leader for BP North Sea. From 2008 to 2011, Don was CEO of Scottish Resources Group, which owns Scottish Coal, the UK's largest open cast mining coal company and second largest coal producer. Don is currently involved in various entrepreneurial ventures in the broader energy sector, in addition to fulfilling the role as Deputy Chairman on the SNR board, where he will assist in the development and direction of SNR as the company grows and expands, in service of various markets.


David John Nel, aged 40, Chief Executive

David Nel has focused his career since the early 1990's, on opportunities within the natural resources industry in South Africa. After obtaining a Masters degree in Commerce from the University of Johannesburg, David spent several years in a senior management position with global business consulting firm Accenture, advising some of the world's largest mining houses. Through this, David gained experience in the conceptualisation, development, implementation and management of various large scale consulting solutions for mining companies such as Xstrata, De Beers and Goldfields. In addition, David has spent over seven years as the General Manager of Coalnet in South Africa, a resources development company which led to the establishment of Elitheni Coal, SNR's primary asset today.

David is wholly committed to Elitheni and to SNR. As Chief Executive Officer of SNR, David is responsible for the mobilization and implementation of all SNR projects. David has also been the commercial director and COO of Elitheni Coal since 2006 and is well acquainted with all operational aspects of SNR’s projects. As CEO, David is responsible for steering the new direction of SNR as well as implementation of all strategy both investment and operational for the company and ensuring the Company issuccessful in its ramp up,  export plans and expansion into supply to local power generators.

 

Barry William Nel, aged 69, Commercial Director

Barry Nel is the founder of Elitheni and is involved in the South African coal and energy supply sector. He was a founder of Trans Tugela Coal (Pty) Ltd in 1976 which was South Africa’s first independent coal mining operation. The business grew to three medium sized collieries and captured 35 per cent. of the Natal industrial coal market. He formed Coalnet in 1990 to focus on joint ventures with coal users such as the successful joint venture between Coalnet and Vakbel of Turkey, which involved exporting 2.5Mt of South African coal to Turkey.

Since 1999, Barry has committed himself and all his resources to the full time task of establishing Elitheni. As well as being an Executive Director of SNR Barry is Chairman of Elitheni Coal Pty Ltd. His main responsibility will be to ensure the smooth running of the Elitheni coal exploration and the eventual mining of the coal once the extraction licence has been granted. He will also work closely with the CEO to define and develop other coal and energy related projects in South Africa and southern Africa.

 

Bertus Steenkamp - Technical Director (aged 45)

He started his Working Career as an Anglo Coal Student in 1986 to 1990 when he completed his Higher National Diploma in Coal Mining. He later joined Rand Mines in 1991 as Planning Engineer where he occupied various positions in the Technical, Opencast Mining and Underground Sections of the Mine.

His first appointment as Mine Overseer in 1992, after obtaining his Mine Manager’s Certificate at age 25, was followed by his appointment as Production Manager at Delmas Colliery in 1995. During the course of his stay at this mine, he later had the responsibility for Total Management of the Underground Mine (3 shafts). He joined Grinaker-LTA during 2000 and up to 2003 he occupied various senior positions within the Contract Mining – Coal Division at Grinaker-LTA Mining Contracting before being appointed as Director-Coal Operations on the Main Board of Grinaker-LTA Mining Contracting during 2003. He occupied this position, being responsible for marketing, contract negotiations, contract management, tendering, strategic planning etc, up to March 2008 when he resigned to build his own dream – Belton Mining.

The Company, 2 years later, has developed into a diverse Mining Company (Level 6 - BEE) with its Mining Services Section focussing on Contract Mining and Engineering Capital Projects and Refurbishments, while a subsidiary company, Ducanet, focuses on Procurement Services. Furthermore, the company also acquired various levels of ownership in vast range of Prospecting and Mining Rights including Coal, Diamonds, Gold, Manganese, Platinum and other minerals. A Mauritian based Consulting Company (Belmin Consulting Limited) was also established to service International clients with Technical and Consulting Services.


Robert Myles Randal MacDonnell M.S.I, (Randal), aged 71, Non-Executive Independent Director

Randal MacDonnell was a Partner of Laurie Milbank & Co Stockbrokers, stockbroker partnership for 16 years until it was taken over by Chase Manhattan Bank (subsequently JPMorgan Chase & Co.) in 1985. He was head of the institutional equity department raising money for underwritings, placings and rights issues, as well as conducting normal stock exchange business. In 1986 he was appointed a Director of Chase Manhattan Securities Limited where he remained for four years. He subsequently became a director of Credit Lyonnais Securities Limited and in 1994 was appointed a Director of Kleinwort Benson Securities Limited primarily dealing with small companies. Prior to becoming a member of the London Stock Exchange in 1965 he was commissioned in the 9th/12th Royal Lancers. He is currently a non-executive director of PipeHawk plc.

He is the senior independent Non-Executive Director; principally his role is to ensure that all shareholders are treated fairly and honestly by the Board.

 

Andrew Brennan (aged 66)

Andy Brennan is a career banker having spent over 37 years with Bank of Ireland gaining extensive experience in the Bank’s Corporate and Private Client's Divisions. During this period he was one of four persons selected to launch Bank of Ireland Private Banking Division where he served 13 years prior to retiring as a Senior Lending Executive specialising in managing personal financial affairs of High Net Worth clients. Andy holds a Diploma in Applied Finance from the Irish Management Institute.

Following his retirement from Bank of Ireland, Andy served 5 years as Deputy Head, Private Clients with Merrion Capital, a Dublin based Stockbroking firm prior to taking up an appointment as a Non Executive Director of W. P. O'Reilly & Associates Limited, a Financial Services company founded in 1984. He is also a diector of Cooch 1095 Limited

 

Gabriel Ruhan – Independent Director

Gabriel Ruhan has been nominated by Richardsons Capital LLP to join the Board of SNR as their representative director, further details of which were announced by SNR on 07 March 2012. Mr Ruhan is an experienced entrepreneur who has previously served as COO of Navisite Inc, a Nasdaq listed company, where he lead the integration of 8 separate company acquisitions. Mr Ruhan is currently CEO of Global Marine Systems Ltd and a Director at Bridgehouse Capital, a private offshore fund where he occupies positions on the boards of various companies in which Bridgehouse Capital has investments.

 

Major Shareholders

Information taken from the Company website 03.10.2012

  • Additional Information
    Market
    AIM
    EPIC
    SNRP
    Share Price
    13.88p
    Change
    0
    Volume
    1,902,739
    Dividend
    0
    EPS
    -0.14
    Shares
    171.06 m
    Offer
    14
    Bid
    13.75
    Avg. Vol
    117,519
    Yield
    0.00
    P/E
    -34.72
    Mkt Cap
    £23.74 m
  • Latest Stocktube
    15/11/2012

    Strategic Natural Resources: An Entire Energy Complex - David Nel, CEO

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    • Contact Information

    Registered Office and Business Address

    Suite 4

    Claridge House

    32 Davies Street

    London

    W1K 4ND

    Tel: 020 3328 5668

     

    Physical Address of Elitheni Coal (Pty) Limited

    Kings Court

    Buffelsfontein Road

    Office 1

    First floor

    Walmer Heights

     

    Postal Details

    P.O.Box 211177

    The Fig Tree

    6033 Port Elizabeth

    South Africa

    Tel: 041 368 9650

    Facsimile : 041 368 9651

     

    Corporate Information

    Nominated Adviser and Joint Broker in the UK

    Allenby Capital Limited

    Suite 4, Claridge House

    32 Davies Street

    London W1K 4ND

     

    Joint Broker

    SP Angel Corporate Finance LLP

    35 Berkeley Square

    London W1J 5BF

     

    Competent Person

    Golder Associates Africa (Pty) Limited

    Thandanani Park

    Matuka Close

    Halfway Gardens

    Midrand 1685

    South Africa

     

    UK Solicitors

    Memery Crystal LLP

    44 Southampton Buildings

    London WC2A 1AP

     

    Attorneys to the Company (South Africa)

    Werksmans Attorneys

    155 - 5th Street

    Sandown

    Johannesburg 2146

    South Africa

     

    Registrars

    Computershare Investor Services PLC

    PO Box 82

    The Pavilions

    Bridgwater Road

    Bristol BS99 7NH

     

    Auditors 

    BDO LLP

    Registered Auditors

    Chartered Accountants

    55 Bakers Street

    London W12 7EU

     

    Public Relations

    Financial Dynamics

    Holburn Gate

    26 Southampton Buildings

    London WC2A 1PB

     

    Telephone: 0207 8313113

     

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