23rd January 2012
RESPONSE TO MEDIA SPECULATION REGARDING STRATEGIC INVESTORS Johannesburg, South Africa - (23 Jan 2012) - Universal Coal plc (ASX: UNV) ("Universal") advises the Company is reviewing the appointment of advisors to assist with informal approaches regarding its coking coal projects in the north of South Africa.
The Company expects increasing interest in these assets, and
as a result, and following a number of informal approaches
and discussions from groups within the steel sector,
Universal may appoint specialist advisors to assist in
securing a strategic investor for the coking and thermal coal
assets.
Universal has not received a formal statement or offer from
any party regarding these assets. The Company continues to be
in discussions with various equity investors and industrial
groups in the steel and power generation sectors regarding
its operations in South Africa as part of its ongoing
investor relations and communications programs.
In December 2011, Universal advised shareholders that the
Company's two early-stage coking coal exploration projects in
South Africa's Limpopo province were likely to be the
catalyst for substantial and increasing investor interest
during 2012.
The Company said in December that the Berenice-Cygnus
project, in particular, with a gross in situ resource of
1.3Bt declared from the first phase of drilling, was already
attracting interest.
Berenice-Cygnus, situated in the emerging Soutpansberg
Coalfield near the Mozambique and Zimbabwe borders, is
located 30km from a railway siding linked to both Maputo and
Richards Bay ports. A second phase of drilling is scheduled
to begin in early 2012, and a scoping study commenced in late
2011 at the project.
Competent Person's Statement
The information in this report that relates to Coal Resources or Ore Reserves relating to the Coking and thermal Coal Project is based on information reviewed and compiled by Mr Nico Denner, who is a registered natural scientist and a member of the South African Council for Natural Scientific Professions. Mr Denner is employed by Gemecs (Pty) Ltd and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Coal Resources and Ore Reserves. Mr Denner consents to the inclusion in this report of this information in the form and context in which it appears.
ASX Code UNV Shares on Issue 209.7m Cash at hand $8.1m Share Price $0.215 Market Cap $45.1m Options on Issue 34.4m Chairman: Dr Tony Harwood CEO: Tony Weber Director: Henri Bonsma Director: Shammy Luvhengo Director: John Hopkins Registered Offices:One America Square, Crosswall
London, EC3N 2SG
Tel: +44 (0) 207 264 4444
Fax: +44 (0) 207 264 4440
Registered in England and Wales
Company Number: 4482856
South Africa:467 Fehrsen Street
Brooklyn 0182
Pretoria
Tel: +27 12 460 0805
Fax: +27 12 460 2417
Australia:Level 2, 28 Kings Park Road
West Perth WA 6005
Tel: +61 8 6267 0210
Fax: +61 8 9481 1840
The information in this update that relates to exploration results is based on information reviewed and compiled by Mr
Jaco Malan, who is a registered natural scientist and a member of the South African Council for Natural Scientific Professions. Mr Malan is employed by Universal Coal plc and has sufficient experience which is relevant to the style of mineralisation and the type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results, Coal Resources and Ore Reserves. Mr Malan consents to the inclusion in this report of this information in the form and context in which it appears.
ARBN: 143 750 038
ASX Code: UNV
Investor EnquiriesFortbridge Consulting +61 2 9003 0477
Press Release
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