DGAP-News: ICHOR COAL N.V.: Increase of stake in Vunene Mining (Pty) Ltd. to 74 percent

DGAP-News: ICHOR Coal N.V. / Key word(s): Miscellaneous
ICHOR COAL N.V.: Increase of stake in Vunene Mining (Pty) Ltd. to 74
percent

02.08.2012 / 18:34

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ICHOR COAL N.V.: Increase of stake in Vunene Mining (Pty) Ltd. to 74
percent

- Resources of approx. 120 million tons
- South African coal mine has been producing since 1970
- Considerable expansion of production planned

Berlin, 2 August 2012. ICHOR COAL N.V. an internationally operating mineral
resource-company specializing in investments in coal resources as well as
in other projects in the field of coal logistics and coal handling
increases its 20 percent stake in the South African coal mining company
'Vunene Mining (Pty) Ltd.' to 74 percent, as planned.
After ICHOR COAL N.V. has acquired 20 percent of Vunene Mining (Pty) Ltd.
at the beginning of 2012, ICHOR COAL N.V. has now purchased the majority
stake in the company. Vunene Mining (Pty) Ltd. is the holder of the mining
right for the 'Usutu' coal mine, which produces coal since 1970. Overall,
the producing mine has resources of around 120 million tons.
The clear goal of ICHOR COAL N.V. and its South African project partner
'Mbuyelo Coal' is the significant expansion of the coal production, after
an extensive exploration and ramp up program is completed.


The Management Board


About Vunene Mining (Pty) Ltd
Vunene Mining (Pty) Ltd is a South Africa based coal mining company, which
is currently operating a mine near a power station in the Ermelo coal field
in the Mpumalanga region. The coal of Vunene Mining (Pty) Ltd. is renowned
for its quality that suits both, the local market as well as international
export criteria.
 
About ICHOR COAL N.V.
ICHOR COAL N.V. is an internationally operating mineral-resource-company
specializing in investments in coal resources as well as in other projects
in the field of coal logistics and coal handling along with coal trading
via its marketing arm HMS Bergbau AG. The company is aiming to secure own
coal-resources, to gain control along the value chain and to sell the
produced coal on the international markets. In consideration of the global
rise in demand for coal, market chances are vast and entrepreneurial action
is essential and bears excellent prospects. The company is lead by its CEO
Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time
experience in the commodity sector.

Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected mining and associated costs, statements relating to estimates
of, and increases in, production, cash flows and values and other
statements which are not historical facts. When used in this document, the
words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may',
'potential', 'should' and similar expressions are forward-looking
statements. Although ICHOR Coal N.V. believes that its expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be given
that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ
from these forward-looking statements include the potential that the
Company's projects will experience technological and mechanical problems,
that geological conditions in the reservoir may not result in commercial
levels of oil and gas production, that changes in product prices can have a
material impact and that ICHOR Coal N.V. fails to raise sufficient capital
to adequately fund its activities.


Contact information:

ICHOR COAL N.V.
An der Wuhlheide 232
12459 Berlin
Germany 

Tel.: +49 30 65 66 81 60
FAX: +49 30 65 66 81 15 
info@ichorcaol.com
www.ichorcoal.com


Share information:

ISIN: NL0010022307
WKN: A1JQEX
Stock Symbol: IO0
Stock Exchange: Frankfurt (Entry Standard), Berlin, Hamburg  


End of Corporate News

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180230 02.08.2012