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Private Treaty Sale of Optimum Coal Mine, Koornfontein Mines

Private Treaty Sale of Optimum Coal Mine Koornfont

By order of Joint business rescue practitioners

Lots Closing: 04 Jul 2019 from 03:00 PM ZA

Invitation to submit offers: sale of share and/or assets for: Optimum Coal Mine (Pty) Ltd, Koornfontein Mines (Pty) Ltd & Optimum Coal terminal (Pty) Ltd
Invitation to offer Post Commencement Finance (PCF)

Items that will be auctioned include:

3 Optimum Coal Mines in business rescue to be auctioned

Optimum Coal Mine (Pty) Ltd (in business rescue) for the sale of assets. Located in the Mpumalanga province. OCM has open cast strip and underground sections. OCM owns 8 draglines, 2 processing plant, 1 railway siding, 1 rapid load out facility, 15 ML/day water reclamation plant. Life of mine is 2030+. Including resources, properties and related licenses.
Invitation to offer Post Commencement Finance (PCF)

Koornfontein Mines (Pty) Ltd (in business rescue) for the sale of assets and sale of shares in-line with the RBCT shareholders agreement. Located in the Mpumalanga province. KFM has a 1.5mt/PA export allocation. It has underground operations, 3 processing plants, 2 railway sidings, rapid load out facility. Life of mine is 2030+. Including resources, properties and related licenses.
Invitation to offer Post Commencement Finance (PCF)

Optimum Coal Terminal (Pty( Ltd (in business rescue) for the sale of shares in-line with the RBCT shareholders agreement. 6.5mt/PA export allocation.

Interested parties are to refer to the Introduction letter and Vetting Requirements available in the downloadable section.

Notice to purchasers:
Buyers premium: 0%
VAT/Tax: 15%
Payment date: As per details in the Offer To Purchase document. Avaialble in the data room
Payment type: Wire Transfer
Collection date: N/A

Additional notes:
This auction is governed by the Consumer Protection Act – Act 68 of 2008 (South Africa), and further reference to the Act and the regulations can be downloaded from here.
Consumer Protection Act 68 of 2008
Consumer Protection Act 68 of 2008 - Regulations

The Bidders attention is drawn to the following:
The Rules of Auction can be found under the downloadable documents tab
The assets will be sold “Voetstoots” and on “AS IS – WHERE IS” condition. It is the buyer’s responsibility to perform an inspection of the assets prior to the auction.
The Sale of the assets is non-suspensive and not subject to any feasibility or any other condition required by the buyer.

The Sale by auction is subject to
A reserve or upset price
All prospective bidders must register prior to the auction and such registration requires proof of identity and residence (FICA) as contemplated in regulation 26;
A refundable deposit may be payable by a bank guaranteed cheque or Electronic Fund Transfer (EFT). Kindly provide proof of deposit.
The auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of third parties
The auctioneer may bid for any lot or lots offered for sale at the Auction on behalf of seller but, if on behalf of the seller, not at or in excess of the reserve price

 Event Details
  • Bidding Opens:   18 Jun 2019 05:00 PM
    Bidding Closes:   04 Jul 2019 03:00 PM

    Asset Location:
    Mpumalanga, South Africa
    KwaZulu-Natal, South Africa

    Viewing Details:
    Strictly by appointment only

 Contact Details
  • Contact:   John Taylor

    Email:   john.taylor@liquidityservices.com
    Mobile:   +27 (0) 82 416 3883
    Tel:   +27 (0) 21 702 3206

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