Bandanna Energy Limited appointed PPB Advisory as Administrators of the BND Group, effective 22 September 2014.
Bandanna Energy is the only ASX listed company with substantial coal assets in both the Bowen and Galilee basins subject to EIS and advanced mine studies. The Company is committed to working constructively with the communities in which it operates, and delivering growing returns to shareholders, government and the community.
The Company’s Springsure Creek underground thermal coal project is scheduled to commence production in mid-2015. Bandanna is a 14% shareholder in Wiggins Island Coal Export Terminal (WICET) Stage 1 at Gladstone, with port allocation of 4Mtpa for the Springsure Creek Project, and has also secured the necessary infrastructure capacity for the integrated rail haulage of 4Mtpa coal from the Springsure Creek Project to port.
As at 30 June 2014, Bandanna had 7,572 shareholders and a total of 528,481,199 ordinary fully paid shares on issue. The top three shareholders by volume of shares in the Company were DJ Mining Pty Ltd (16.62%), Resolve Geo Pty Ltd (11.89%) and Samtan Aures Pty Ltd (10.67%).