Beringovsky Port in Russia. Source: Tigers Realm Coal
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Tigers Realm Coal (TIG) has seen a 28 per cent increase in the total coal mined for the nine months ending September 30, 2021
  • The coking coal supplier mined 339,000 tonnes of coal during the September quarter and mined a record 159,000 tonnes in the month of September alone
  • Due to the strong demand from Asia’s coking coal market and restricted supply from Australia, TIG has raised its full year sales guidance to between 800 and 850,000 tonnes
  • At the end of the September quarter, Tigers Realm Coal had US$28.4 million (A$38.3 million) in cash and no bank liabilities
  • Company shares are up 3.57 per cent to trade at 2.9 cents at 2:50 pm AEDT

Tigers Realm Coal (TIG) has released its quarterly report for the three months ending September 30.

During the September quarter, the aspiring coking coal supplier mined 339,000 tonnes of run-of-mine (ROM) coal and delivered 429,000 tonnes to the Beringovsky Port in Russia. The additional 90,000 tonnes of coal delivered came from an intermediate stockpile.

Importantly for the company, it experienced its highest record of coal mined in one month with 159,000 tonnes mined in September alone.

Overall, TIG mined 722,000 tonnes over the first three quarters of 2021 which is 28 per cent higher than the prior corresponding period in 2020.

In the September quarter, the company sold 539,000 tonnes of coal which took the total year-to-date sales to 730,000 tonnes of coal.

Despite adverse weather conditions, the coal handling and processing plant (CHPP) work continued on schedule with construction 95 per cent complete.

The CHPP is part of Tigers Realm Coal’s Amaam coking coal project in Russia. The facility will clean and extract waste material from the coal before it’s crushed and transported.

TIG loaded eight cargos over the quarter with four further vessels scheduled for loading this month and in November.

The company said it was experiencing strong demand in the Asian coking coal market especially out of China due to restricted supply from Australia and strong demand from all Asian steel makers. In response, TIG is selling excess low quality thermal coal cargoes at the current coal prices which have risen.

Due to the ‘exceptionally strong’ demand and its performance this year, TIG has raised its 2021 full year sales guidance from between 700 and 800,000 tonnes to between 800 and 850,000 tonnes.

At the end of the September quarter, Tigers Realm Coal had US$28.4 million (A$38.3 million) in cash and no bank liabilities.

Company shares were up 3.57 per cent to trade at 2.9 cents at 2:50 pm AEDT.

TIG by the numbers
More From The Market Online
The Market Online Video

Ark Mines (ASX:AHK) improves REE grades at Sandy Mitchell

North Queensland-based REE explorer Ark Mines (ASX:AHK) has proven higher-grade mineralisation is present on-site.
OBM

Ora Banda Mining secures $30 M placement, marks progress toward second underground mine

Ora Banda Mining (ASX:OBM) has completed a single tranche placement, securing commitments at an issue price…

Midweek news of a lithium “rally” was absurd. Nickel’s actually having one

This week, you might have caught wind of headlines insisting we were witnessing a "lithium rally."

Peninsula Energy secures Uranium sales contract with EU nuclear fuel buyer

Peninsula Energy (ASX:PEN) has disclosed the execution of a new sales contract for the provision of…