Maxim - coal asset CST Group Limited, a HK listed company, operate a coal mine near Grand Cache, Alberta, Last year they sold approximately 820,000 tonnes of coal, at an average price of US$228. Operations were impeded by a strike at Westshore Terminals and the company was left with an inventory of 26,094 tonnes at the load-out area and 68,832 tonnes at the port. EBITDA was $65 million.
This information is disclosed in CST’s published 2023 annual report.
Maxim owns Mine 14, near Grand Cache, Alberta. The mine is licensed to produce 1.2 million tonnes of coking coal per year, or 50% more than was produced by CST’s operation last year.
It would appear from Goggle earth photos, Maxim still has a coal processing plant at their Milner site.
Valory, an Australian company, has an agreement to purchase Mine 14, by paying the cost of completing the licensing of the operation. Valory, on their web site say they are considering a listing on the ASX.
While the terms of the agreement between Valory & Maxim are unknown, it would appear that Mine 14, in operation, would be a valuable asset.
We will have a better idea how valuable the asset is, when Valory goes public. Given Valory is hiring staff in Grande Cache and has announced it will be in production next year, they will probably need to go public & raise capital over the next 12-months.