Posts Tagged ‘EDS’

ASX Company News: Everyday Mining Services To Acquire Hughes Drilling

Tuesday, October 11th, 2011

Everyday Mining Services Limited (EDS) is pleased to announce it has entered into a binding agreement to merge with Hughes Drilling Pty Ltd. EDMS will acquire 100% of Hughes, which will include the businesses known as Hughes Drilling and Express Hydraulics. The consideration will be the issue of 721,731,312 ordinary shares and 360,865,656 performance shares in EDMS. Accordingly, the Hughes shareholding will be between 67% and 75% of the issued shares in EDMS, depending upon the level of conversion of the performance shares. The performance shares will convert to ordinary shares only if the Hughes businesses achieve normalised net profit after tax of $8,000,000 for the financial year to 30 June 2012, as verified by the EDMS’s auditor working with the independent directors.

Mr Robert Hackett, Chairman of Everyday Mining Services Limited, said: “We are very pleased to be merging with such a high quality drilling business. Bob Hughes is highly experienced in the industry and runs a disciplined and successful business. There is strong growth potential in both the business units acquired, Hughes Drilling and Express Hydraulics. In addition, the Hughes management team has the ability to maximise the value of the remaining assets of EDMS. This merger transforms EDMS, both from an asset and a management perspective, and provides a strong base for increasing shareholder value.”

Hughes Drilling is Queensland’s premier coal production drilling specialist. Hughes Drilling operates at eight mine sites and its clients include the industry’s premier coal mining contractors and owners. The Hughes Drilling drill fleet is comprised of 24 production rotary drill rigs, the majority of which are less than three year old Reichdrill rigs. Hughes Drilling is currently experiencing strong and consistent demand for its services.  Hughes is based in Yatala, south of Brisbane and was founded in 1991 by Robert (Bob) Hughes, its managing director. Hughes originally specialised in drill and blast before evolving into a general drilling company in both coal production and mineral exploration. Hughes moved away from minerals some years ago to develop into its current form, as a pure coal focused drilling business.

www.everydaymineservices.com.au

http://www.traderdealer.com.au/fundamentals/eds

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ASX Company News: Swick Mining Services Acquires Every Day Mining Services Drilling Operation

Wednesday, June 29th, 2011

Swick Mining Services Ltd (SWK) is pleased to announce it has entered into an agreement to purchase the underground diamond drilling division of Every Day Mining Services (EDS). It is expected that completion will occur on the 30th June 2011. The purchase includes seven drill rigs, vehicles and consumables as well as the transfer of experienced local Cobar based crews from EDMS to Swick. The transaction cements additional work in the Cobar region for Swick with Glencore’s CSA Copper Mine and CBH Resources’ Endeavor Mine. A total of three rigs will be in place with these clients. The drill rigs purchased include five skid mounted underground rigs and two mobile rigs. The skid rigs will be relocated to Swick’s North American Operations where there is a requirement for additional skid rigs to service the market.

Swick’s Managing Director, Kent Swick states “the purchase of EDMS’s underground diamond drilling division is a strategic decision that expands our NSW Operations from the current three mines to five contiguous operations ranging from Broken Hill to Tritton. The transaction will be completed with minimal disruption to EDMS’s clients and employees and is an excellent outcome for both Companies.” “Swick is well established in Cobar with a regional office and workshop in the town and we will be able to service the new clients very well. We have been contracted in the region since 2004 and we are committed to supporting the local underground operations. “

Swick Mining Services (SWK) is one of Australia’s largest mineral drilling contractors, providing high quality, high value underground and surface drilling services to a diverse group of mining houses in gold, iron ore, nickel, copper, lead, zinc and manganese. The Company has a strong reputation for innovation in rig design and drilling practices that delivers improvements in productivity, safety, versatility and value. Swick recently committed to expanding its operations outside of Australia and building a global brand through an expansion into targeted international markets, with an initial focus on North America. EDMS is a diversified mining services business headquartered in Brisbane, Qld. The group comprises four subsidiaries (EDMS Metals Pty Ltd, EDMS Energy Pty Ltd, EDMS Assets & Logistics Pty Ltd and EDMS Human Capital Pty Ltd) servicing the metalliferous, coal and gas sectors in NSW and Qld. EDMS has operational hubs in Cobar, Gunnedah, Rutherford & Newcastle in NSW and Yatala and Brisbane in Qld.

www.swickmining.com.au

http://www.traderdealer.com.au/fundamentals/sws

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Every Day Mine Services Signs New Drilling Contract

Thursday, January 21st, 2010

The Directors of Every Day Mine Services Limited (EDS) are pleased to advise that G.O.S. Drilling Pty Ltd has today executed a drilling contract with a Vale controlled joint venture, Integra Coal Operations Pty Ltd near Singleton, NSW for a number of deep core holes. This is the first stage of an extensive program planned at the Integra underground mine for a UDR 1000 rig which will run for up to 6 months.

The signing of the contract is the first with Vale and will further enhance its operational presence in the Hunter Valley coal fields. It is also expected that an additional rig may be mobilized during the term of the contract on it becoming available. EDMS and GOS Drilling look forward to working closely with Vale and Xstrata on these projects and other growth opportunities that exist in the near term.

EDMS is a diversified mining service and drilling contractor headquartered in Rutherford, NSW. The group comprises four subsidiaries who service the metalliferous and energy sectors primarily in NSW and Queensland. EDMS operates depots in Rutherford, Cobar, Gunnedah, Mackay and Mt Isa to service its expanding client base that includes China Shenhua, Peabody, Xstrata, Glencore and CBH Resources.

www.everydaymineservices.com.au

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Everyday Mine Services Signs Contract with China’s Largest Coal Producer

Wednesday, June 10th, 2009

Every Day Mine Services Limited (EDS) is pleased to advise that it has today received confirmation that Shenhua Watermark Coal Pty Ltd, a wholly owned subsidiary of China’s largest coal producer China Shenhua Energy, has signed the contract for drilling at their Watermark project south of Gunnedah, NSW. The contract calls for 6 surface rigs to be mobilised on a staged basis with the first three rigs commencing work on 15 June 2009. The balance of the rigs will commence work 10 days later on 25 June 2009. GOS estimates that the first stage of the drilling program will run for up to 9 months and realise up to $5.5 million in revenue depending on drilling productivity and ground conditions.

China Shenhua Energy acquired the Watermark area exploration licence from the NSW state government in August 2008. China Shenhua Energy expects Watermark to contain shallow coal resources with thermal coal of domestic and export quality totalling more than 1 billion tonnes.  The Watermark area can be linked up to the Port of Newcastle some 270km away via a branch railway passing through its north eastern side.

Whilst rig utilisation is currently 50%, it is noted that its larger drill fleet which account for approximately 61% of its drilling assets by value are deployed on long term contracts. There are several possibilities that it is pursuing for further work in both the surface and underground areas that we it is still seeking to conclude before 30 June 2009. In addition, it is examining new opportunities outside the metalliferous sector for its modern underground fleet and will also continue to convert underground rigs for surface work should demand continue for our services.

The programs have targeted annual cost savings of approximately $2.2m from reduced overheads in the business. It is the intention of the directors to operate the business with the current overheadstructure in place until such time that rig utilisation exceeds 85%.

www.everydaymineservices.com.au

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Everyday Mine Services Share Purchase Plan

Tuesday, March 31st, 2009

Everyday Mine Services (EDS) announced on the 26/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 9/04/2009 on which shareholders must own the share to participate in the SPP and the closing date is 1/5/2009. Shares are expected to be issued on 6/5/2009 and commence trading on 7/5/2009. A maximum of $5,000 can be purchased by each shareholder at $0.04.

http://www.everydaymineservices.com.au

Discount : -14.3% Liquidity : Poor Profitability : Ok Stability : Poor

* Note: Discount is based on the closing price on the 30 March 2009.

For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/

To Buy Shares And Participate in Share Purchase Plans use Trader Dealer http://www.traderdealer.com.au/

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Every Day Mine Services Share Purchase Plan

Tuesday, March 31st, 2009

Everyday Mine Services (EDS)  announced on the 26/03/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date is 9/04/2009 on which shareholders must own the share to participate in the SPP and the closing date is 1/5/2009. Shares are expected to be issued on 6/5/2009 and commence trading on 7/5/2009. A maximum of $5,000 can be purchased by each shareholder at $0.04.

http://www.everydaymineservices.com.au

Discount : -14.3% Liquidity : Poor Profitability : Ok Stability : Poor

* Note: Discount is based on the closing price on the 30 March 2009.

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Every Day Mine Services Placement and Share Purchase Plan

Wednesday, March 25th, 2009

Every Day Mine Services Limited (EDS) advises that they have today received firm commitments from investors to raise $537,500 at an issue price of $0.04 per share. The s. 708 excluded investor placement was subscribed for by directors, senior management and existing shareholders of EDMS. In accordance with the ASX Listing Rules and Corporations Law, EDMSwill be required to convene a shareholder meeting to approve the issue of shares to the directors of the Company. In addition to the placement, the Directors are also pleased to advise that existing shareholders are being offered the opportunity to subscribe for shares on the same terms through a share purchase plan.

Under the terms of the SPP, investors registered at the determined record date will be entitled to subscribe for a minimum share parcel of $2,000.00 and a maximum share parcel of $5,000.00. Should the maximum number of shares permitted to be issued be subscribed for, an additional $1.1m will be raised by the Company.

http://www.everydaymineservices.com.au

For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/

To Buy Shares And Participate in Share Purchase Plans … use Trader Dealer http://www.traderdealer.com.au/

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Every Day Mine Services Placement and Share Purchase Plan

Wednesday, March 25th, 2009

Every Day Mine Services Limited (EDS) advises that they have today received firm commitments from investors to raise $537,500 at an issue price of $0.04 per share. The s. 708 excluded investor placement was subscribed for by directors, senior management and existing shareholders of EDMS. In accordance with the ASX Listing Rules and Corporations Law, EDMSwill be required to convene a shareholder meeting to approve the issue of shares to the directors of the Company. In addition to the placement, the Directors are also pleased to advise that existing shareholders are being offered the opportunity to subscribe for shares on the same terms through a share purchase plan. 

Under the terms of the SPP, investors registered at the determined record date will be entitled to subscribe for a minimum share parcel of $2,000.00 and a maximum share parcel of $5,000.00. Should the maximum number of shares permitted to be issued be subscribed for, an additional $1.1m will be raised by the Company.

http://www.everydaymineservices.com.au

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