DGAP-News: ICHOR Coal N.V. / Key word(s): Half Year Results Ichor Coal N.V. publishes it results for the six months ended June 30, 2012 12.09.2012 / 11:00 --------------------------------------------------------------------- Ichor Coal N.V. Corporate News dated 12 September 2012 - Ichor Coal N.V. publishes it results for the six months ended June 30, 2012 - Positive outlook with continued business expansion planned for second half of 2012 - Completion of acquisition of shares of Vunene Mining (Pty) Ltd, South Africa with full consolidation of its results from the beginning of July 2012 Berlin, 12 September 2012: Ichor Coal N.V., an international operating mineral-resource-company specializing in investments in coal resources as well as in other projects in the field of coal logistics, handling and coal marketing has published its results for the six months ended 30 June 2012. Sales revenues of Ichor Coal N.V. amounted to EUR 45,766 thousand while Purchased goods and services amounted to EUR 44,295 thousand, leading to an operating profit of EUR 1,471 thousand for the six months ended 30 June 2012. During the first six months of the year, the operating margin of Ichor Coal group was primarily driven by its trading activities in Europe and Asia and the acquisition expenses associated with the company's purchase activities towards the 74% share ownership in Vunene Mining (Pty) Ltd, South Africa. This investment will have a positive impact already on the group's earnings of the second half of the financial year, when the results of Vunene Mining (Pty) Ltd become consolidated. Following the Vunene Mining (Pty) Ltd acquisition the group's EBIT as at 30 June 2012 amounted to EUR -1,557 thousand with income after tax of EUR -1,650 thousand. Based on 50 million shares, this corresponds to earnings per share of EUR -0.04. As at 30 June 2012, Ichor group's Net equity amounted to EUR 5,459 thousand compared to EUR 15,042 thousand as at 31 December 2011. The reduction of 9,583 thousand in Net equity was principally due to the buy back of 1,678,000 own shares at a cost of EUR 5,789 thousand in June 2012 and its purchase of a further 335,867 shares in HMS Bergbau AG in June 2012 for a total of EUR 2,145 thousand. These transactions resulted in a decrease in Capital reserves of EUR 7,408 thousand and Non-controlling interest by EUR 357 thousand. As at 30 June 2012 the group's Cash and cash equivalents amounted to EUR 20,413 thousand. 'Ichor Coal N.V. can look back on a successful first half-year 2012 during which it successfully continued to implement its strategy. As a new market player, Ichor Coal N.V. started to establish an international mineral resource company in October 2011. Its first investment in HMS Bergbau AG, now being the group's exclusive marketing partner, was the main contributor to sales revenues and operating margin from its coal trading activities in Europe and Asia during the first half-year. In addition, we are pleased with the progress we made in pursuing further investments in coal resources in South Africa, which has to-date resulted in a majority share ownership in Vunene Mining (Pty) Ltd. This investment will be fully consolidated with effect from beginning of July 2012 and as such significantly increases not only our resource base but also Ichor Coal group revenues and profits. We will continue increasing our focus on the coal growth markets in Asia and southern Africa,' commented Sebastian Giese, CFO of Ichor Coal N.V. 'The basis of our future growth, the resources and the reserves that are directly accessible by the company continue to increase both in size and classification as we are pursuing our exploration activities. Moreover, we expect significant value creation from mining and trading these resources - both locally and internationally - which in the case of Vunene Mining (Pty) Ltd will have considerable positive effects on Ichor Coal group's results. We are confident that the company will continue to expand during the second half of 2012, through the anticipated share purchase transaction for the 30% stake in Mbuyelo Coal (Pty) Ltd, a South African focused resource company. In addition we will also increase confidence over those acquired resources and reserves. All in all, we believe that we will continue to successfully implement our strategy and that the outlook for the company remains positive. We firmly believe that a diversified portfolio along the value creation chain, spread across different geographical areas is the key to success in this industry,' said Heinz Schernikau, CEO of Ichor Coal N.V. The 6 months to 30 June 2012 report of Ichor Coal N.V. can be downloaded at www.ichorcoal.com. About Ichor Coal N.V.: Ichor Coal N.V. is an international 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 its 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, significant market opportunities exist and entrepreneurial action is essential and bears excellent prospects. Ichor Coal N.V. is lead by Heinz Schernikau (CEO) and Sebastian Giese (CFO). Both bring their significant experience in the commodity sector which will greatly help in the continued development and growth of the company. 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 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 --------------------------------------------------------------------- 12.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. 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DGAP-News: Ichor Coal N.V. publishes it results for the six months ended June 30, 2012
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