Welcome to Bandanna Energy Limited
Bandanna Energy Limited is an emerging, ASX 300 listed, coal exploration company (Code: ASX – BND). Since backdoor listing the coal assets of Bandanna Coal Pty Ltd in September 2008 the Company has grown to now hold one of the largest thermal coal inventories of any ASX listed explorer. The approximate 1,600 million tonnes of JORC compliant coal resources are located in two Queensland basins – the Galilee and Bowen. The Bowen Basin is the principal coal producing basin in Queensland, having significant rail and port infrastructure. All of Bandanna’s Bowen Basin tenements are held 100% by the Company and include primarily the Springsure Creek (EPC 891), Arcturus (EPC 1221), Dingo West (EPC 881), and Arcadia (EPC 1742), each of which have JORC compliant resources. Mining Lease applications have been made for two areas, in each of the Dingo West and Springsure Creek tenements.
Details of our coal resource inventory, including resource statements released to the ASX, can be found elsewhere on this site. In Q3 2010 Bandanna was offered, subject to certain conditions precedent and financial close on suitable project financing a Take or Pay Agreement, an allocation of 4 Mtpa in Stage 1 of the Wiggins Island Coal Export Terminal (WICET). Financial Close was achieved in early October 2011 and following the scheduled 34 month build, Bandanna will be able to ship first coal from around mid 2014. Earlier it was announced that the Wiggins Island Rail Project (WIRP) Agreement was reached by Bandanna and other Stage 1 WICET shippers with QR National. These are major milestones for the Company, providing a complete rail and port supply chain solution for its Bowen Basin source mine development, enabling to clearly define a timetabled pathway from explorer / developer through to a coal producer.
By contrast the Galilee Basin is relatively frontier and has yet to see any commercial coal production. It is, however, emerging as a major thermal coal province of global significance with major developments proposed by Hancock Prospecting, Waratah – Resource House, Adani and by our own Joint Venture involving AMCI. The South Galilee Coal Project is a 50-50 Joint Venture by Bandanna and AMCI involving four tenements previously held 100% by Bandanna. As part of the previous farmin agreement AMCI, as operator of the Joint Venture, has completed Concept and Prefeasibility Studies (Refer ASX announcement of April 2011), and delineated 1178 Mt of JORC compliant Resource comprising a maiden Measured Resource of 166.6 Mt, and 206.3 Mt of Indicated Resource (ASX announcement 8 February 2011). Bandanna is the only listed ASX company with a significant potential coal development project in the Galilee Basin as well as the Bowen Basin.
The Company also has some mineral rights, both for oil shale and bentonite, located in Queensland.
The Board of Bandanna Energy is chaired by Jeremy Barlow who has a long and distinguished career in the Australian coal and energy sectors. He was formerly a principal of Barlow Jonker Consultants and a Director of CH4 Gas Limited. He was also a director of Arrow Energy Limited until its takeover by Shell and Petrochina in 2010. (Board members can be found by clicking “Directors’ Profiles” on the menu shown on the right hand side of the screen).