Tuesday, 31 December 2013

NSW Rural land at Jamberoo to be rezoned for seniors housing

     Jamberoo housing plan remains on show

The exhibition period for a planning proposal that could allow rural land at Jamberoo to be rezoned for seniors housing has been extended.
The concept plan for the development, proposed for a 7.8 hectare Wyalla Road property close to the Allowrie Street roundabout, includes 30 Torrens title housing lots restricted to those aged 55 and older and 22 detached residential housing lots.
The proposal, by Peter Taranto's Huntingdale Developments, needs the subject land to be rezoned from RU2 Rural Landscape to R2 Low Density Residential and E3 Environmental Management.
Kiama councillors backed the rezoning proposal in March, arguing the development would help the council increase seniors housing in Jamberoo.
In October the Department of Planning and Infrastructure issued a "gateway determination" clearing the way for the council to proceed with the exhibition of the planning proposal.
Due to the Christmas/New Year period, submissions and comments will now be received until January 17.
The planning proposal and supporting documentation can be viewed at Kiama Council's administration building in Manning Street, the Kiama Library, or the council's website.
In 2008 Kiama Council won a long-running Land and Environment Court case over Crighton Properties which had plans for a 195-unit seniors living development in Jamberoo.

Saturday, 21 December 2013

The three things your home loan broker knows that you don't: Otto Dargan

       The three things your home loan broker knows that you don't: Otto Dargan

By Otto Dargan
Friday, 13 December 2013

If you’re a first home buyer, you’re usually going in blind when it comes to getting a home loan application approved. Sure, your parents might be able to give you some ‘hot’ tips but things have changed a lot since they first applied for a home loan.
Some bank staff will not tell you all of the options available for your loan but a good mortgage broker will.
Here are three things a broker knows that you don’t.
The LMI factor
Lenders mortgage insurance (LMI) is a premium paid by the borrower that protects the lender against loss incurred by a mortgage default. LMI is usually around 1-4% of the loan amount and is applicable if you borrow over 80% of the property value (80% LVR).
Banks have different LMI premiums, however nobody tells the borrower!
If you purchased a property for $600,000 and borrowed 95%, one of the major lenders would charge you $29,226 for LMI premium while another would charge you $18,453.
We all like to shop around for a good interest rate but have you tried getting the best deal for your LMI? You can’t. Why? Because lenders don’t publish it!
A good broker will take LMI into account when helping you to choose the right home loan. In some cases, LMI can even be waived if you’re a professional such as a doctor, accountant, lawyer or engineer.
If your mum or dad agree to act as a guarantor for your loan you can possibly avoid LMI entirely. Unfortunately some brokers never tell you about this option and you end up paying thousands in LMI unnecessarily.
Brokers know the (credit) score
When a bank assesses your loan application they’ll combine all the data in your application with your credit history and get what is known as a ‘credit score’. Credit scoring has been gaining traction and now most banks use it – but each lender views risk very differently!
Before your application is even looked at by a human, you’re run through the bank’s scorecard. Apart from your credit history, they’ll gather other information like your asset position, job stability and even whether you saved a deposit or if it was a gift!
One lender may not like someone who has changed jobs recently but for another it doesn’t factor into their credit score at all.
If you don’t pass the credit score, you shall not pass! Brokers know how banks score and can help you select the right lender for your situation.
Do something with that extra cash!
If you’re on a professional package, making extra repayments can make a massive difference over the term of the loan.
We all know that right? Well what you didn’t know is just how big a difference extra repayments can make! For a $570,000 loan over 30 years with an interest rate of 4.99%, you pay $3,056.40 per month.
Just paying $1 extra a day ($30.42/month) will save you $13,950.36 over 30 years. That’s a pretty decent Christmas holiday.
Albert Einstein once declared compound interest to be ‘the most powerful force in the universe’ and it works both ways!
It’s up to you to get in touch with an expert who knows the tips to save you money.
Otto Dargan is the two time winner of Australia’s Brightest Mortgage Broker and the founder of specialist mortgage broker the Home Loan Experts.

Friday, 20 December 2013

Christmas is an ideal time to buy

Christmas is an ideal time to buy       

A house for Christmas?


A recent investor sell-off in some prime  suburbs could spook vendors into quick sales, with <b></b>fears of the ma...          
A recent investor sell-off in some prime suburbs could spook vendors into quick sales, with fears of the market slowing in 2014 Source: News Limited
WANT a house under your Christmas tree? If you are thinking of buying a home, the festive season is the time to make your move.
Contrary to popular belief, Christmas is an ideal time to buy, with properties left on the market in the lead up to the festive season and less potential buyers trawling real estate sites.
Agents say end-of-year vendors get to the point where they just want to sell, but realise people are on holidays. The result is they'll flip their house for less.
That's good news for potential home buyers repeatedly outbid by cashed-up investors this year in capital cities where auction clearance rates have clocked record highs.
TV real estate expert Bryce Holdaway says savvy buyers go against the trend and house hunt when the others aren't looking - that's this month and January.
"As the buyer, you generally hold all the cards at this time," says Mr Holdaway, host of Location Location Location.
"Once December rolls around, the competition is thinking more about Christmas approaching than they are about embarking on a major decision like a property purchase. And this is where you can take advantage.
"Buyers tend to get reluctant to buy close to Christmas ... they'll deal with it, along with the other new year resolutions, next year. Understandably, the vendor can become quite desperate to secure a deal."
Even in Sydney where auction clearance rates have nudged 90 per cent this year, there will be bargains in the next few weeks.
Properties are going to auction right up until the weekend before Christmas, when the crowds of competitive buyers are sure to diminish.
You won't have to contend with the massive auction crowds in December and ...     
You won’t have to contend with the massive auction crowds in December and January. Source: News Limited

"People are keen to sell before the New Year and capitalise on the active market that we're currently in,'' Roger Agha, principal of Devine Real Estate said.
What's more, a recent investor sell-off in some prime Sydney suburbs could spook vendors into quick sales, with fears of the market slowing in 2014 making them more open to negotiations in the coming weeks.
It can be more difficult to sell in January with professionals required to finalise contracts often on holidays, further motivating vendors.
January also is generally a slow month for builders and contractors. With most people on holidays and factories closed for the break, this makes it a good time to negotiate fees on new homes.
Xmas cheer for buyers
Less people looking equals less competition, which means greater flexibility in negotiations and a better chance at securing a bargain.
Another great outcome of buying at this time of year is that settlement will often be in January or February - peak rental time.
Holidays will potentially increase condition and settlement times and the longer you control a property in a rising market without actually owning it the better.
A top time to sell?
On the flipside, real estate expert Andrew Winter says the festive season can also be the optimum time to sell.
"Demand however, can vary from area to area. Inner city and urban areas may close down as residents disappear to the coast," Mr Winter says.
"Coastal areas, the country, even the outer burbs can shine during this festive season as numbers swell with visitors who can be tempted by the dream of a lifestyle change.
Mr Winter, host of Selling Houses Australia, advises vendors to consider their situation carefully at this time of year.
"Just adding days to your listing time is pointless and can have a negative impact on buyer's perception of your home if the area shuts down.
"There's also school holiday syndrome to consider if with time off, the kids want to turn the living room into a massive sleep out zone.
"Plus the detritus of Christmas wrapping ensuring your home looks like Myer at the end of the first day of the sales."
Xmas cheer for vendors
Buyers looking for properties during the holidays are usually serious about purchasing and this could lead to a quick sale.
Most buyers want to be able to move in before a new year begins.
If you're in an area that has an increased holiday population, competition between buyers may increase, this could lead to offers that are higher than your original asking price.

Have your say on Red Hill mining project

Have your say on Red Hill mining project


Brisbane 13 December 2013. The public has been invited to comment on the expansion of existing mines and a potential future underground operation 20 kilometres north of Moranbah in the Bowen Basin.

Jeff Seeney, Deputy Premier and Minister for State Development, Infrastructure and Planning said the Queensland Coordinator General will release for public comment an Environmental Impact Statement (EIS) for the proposed Red Hill Mining Lease project.
“The release of this report represents the next step in the process for this mining project which, if ultimately approved by the Coordinator General and the Commonwealth Government, has the potential to create approximately 2000 jobs in its construction phase and 1500 operational jobs,” Mr Seeney said.
“BHP Billiton Mitsubishi Alliance (BMA) has applied for the grant of the Red Hill Mining Lease to allow for an extension of three long-wall panels of the Broadmeadow underground mine and a future incremental expansion of the Goonyella Riverside Mine (GRM).
“The proposal will also allow for the future Red Hill underground expansion option, located to the east of the GRM complex, which has the potential to deliver up to 14 million tonnes of coking coal per annum.”
Mr Seeney said after the public comment period, the Coordinator General would thoroughly review the EIS and other information.

The EIS covers Commonwealth matters of national environmental significance as well as Queensland matters, following the Bilateral Assessment process.
The consultation period will commence on 16 December 2013 and all submissions must be completed and delivered to the Coordinator-General’s office by 5pm on 13 February 2014.
The EIS, a fact sheet explaining how to make a submission and the submission form are available online at www.dsdip.qld.gov.au/redhill
Printed copies can be viewed at:
  • Moranbah Library, Grosvenor Complex, Batchelor Parade, Moranbah
  • Mackay City Library, Civic Precinct, Gordon Street, Mackay
  • National Library of Australia, Parkes Place, Canberra
  • State Library of Queensland, Cultural Centre, Stanley Place, South Bank, Brisbane. 

Decision on Moranbah mine accommodation

Decision on Moranbah mine accommodation


Brisbane 18 December 2013. Queensland’s Coordinator General has approved important changes to an accommodation village near Moranbah that houses employees for BMA’s Caval Ridge mining project, bringing closure to a key issue affecting the delivery of the project.

Deputy Premier and Minister for State Development, Infrastructure and Planning Jeff Seeney said the decision from Coordinator General Barry Broe allows for common sense changes to be made to a development approval for the Buffel Park Workers Accommodation Village.

“This decision brings certainty to the future of this complex after years of being caught up in complicated state and local planning processes that Labor failed to resolve,” Mr Seeney said.

“After careful consideration of the views of the local council and the company concerned, the Coordinator General has approved the development application by mine owners BMA, allowing for 900 rooms of the 1945-room village to be utilised on a permanent basis, subject to effective and reasonable conditions.

“It will improve the accommodation options for construction, operational and maintenance workers associated with the $3.7 billion Caval Ridge mine.”

Mr Seeney said the Caval Ridge Mine was declared a prescribed project on 17 September 2013, enabling the Coordinator General to “step in” to become the decision maker following concerns that proposed changes were being unnecessarily delayed.

“BMA had expressed concern that a number of the conditions imposed by Council were inconsistent with conditions previously set by the Coordinator General,” he said.

“There were also questions regarding the reasonableness and relevance of some of these conditions.

“I am confident that, in making this decision, the Coordinator General has thoroughly reviewed all available information and consulted appropriately with all parties on this challenging matter for the community.

“I strongly encourage the company and the local Council to continue to work together to ensure Moranbah is a vibrant, prosperous community that enjoys the economic growth that mining delivers.”

The Buffel Park Workers Accommodation Village has approvals in place to construct 1945 rooms, with 1380 rooms currently constructed and occupied. The material change of use decision by the Coordinator General allows 900 of the previously approved temporary accommodation units to be used on a permanent basis.

For more information on the mine, visit www.dsdip.qld.gov.au/cavalridge

Thursday, 19 December 2013

Homes in Summer Hill sell faster than any other inner west suburb

Homes in Summer Hill sell faster than any other inner west suburb


1 Henson St, Summer Hill Sold for $1.63 million by Harris Tripp First National. On the market for 20 days.
1 Henson St, Summer Hill Sold for $1.63 million by Harris Tripp First National. On the market for 20 days. Source: Supplied
HOUSES in Summer Hill are selling quicker than any other suburb in the inner west.
While homes in the inner west are selling after an average of 77 days, properties in Summer Hill are going out the door in less than half that time.
The average days on market for the suburb is just 36, compared to the Sydney average of 92.
Agent Gabriela Rodriguez from Raine & Horne Summer Hill said demand is high for houses.
"There is a lack of stock on the market at the moment and we are seeing more buyers looking to purchase in the area," Ms Rodriguez said.
 Summer Hill strreet scene. Picture: Phil Blatch
The village feel and green space near Summer Hill has attracted buyers. Picture: Phil Blatch Source: News Limited

And while 36 days is the average time for a home to be sold, she said she's experiencing much quicker results.
"I'm selling homes in one week," she said.
Typically it's first-time buyers and investors choosing to call the suburb home.
"People are seeking the village atmosphere and the area is close to public transport both buses and trains."
"Investors are looking at the growth and the area is probably still a bit cheaper than other suburbs."
RP Data figures show the area has a median house price of $912,500, up from $660,000 in 2003.
 Summer Hill streetscape.
Summer Hill streetscape. Source: News Limited

The suburb has seen a growth of 25.9 per cent over the past five years while 51 properties have been sold in the past year.
As for what Ms Rodriguez expects the future to hold for Summer Hill
"Nearby developments will bring people to the area," she said.
"There will always be a demand, there always has been."

QLD Mining Check out Powerlink - get an idea of projects in the area and when they are completing

QLD Mining Check out Powerlink - get an idea of projects in the area and when they are completing.
Keep an eye on Powerlink and timelines to show timelines of projects around mining towns.
Search on this page to see if anything is around the mining town.

Eagle Downs Mine

Broadsound to Lilyvale

Calvale to Stanwell

Galilee Basin Transmission Project

Collinsville Substation

Northern Bowen Basin

Wandoan South to Eurombah Transmission Network Project 



http://www.powerlink.com.au/Projects













Wednesday, 18 December 2013

NSW Inner city micro pad packs a punch with a tiny 25sq m footprint

Inner city micro pad packs a punch with a tiny 25sq m footprint


Small but central. This little gem is fittingly located on Little Rile St, Surry Hills. Picture: John Appleyard
Small but central. This little gem is fittingly located on Little Rile St, Surry Hills. Picture: John Appleyard Source: News Limited
IT HAS a footprint not much bigger than a car space and is just 2.7m wide, but this cosy 25sq m cottage has all the mod cons a city dweller needs, says its owner.
"I've got everything here a normal-sized house has: a dining area, a separate lounge room and even an ensuite off the bedroom - that's what sold me in the first place," Di Ross said.
Fittingly located on Little Riley St in Surry Hills the pint-sized property is on the market with price expectations of more than $600,000 at auction.
Di Ross at her Surry Hills Property. Occupying a 25sq m footprint, could be one of Sydney's smallest footprints....
Di Ross at her Surry Hills Property. Occupying a 25sq m footprint, could be one of Sydney’s smallest footprints. Picture: John Appleyard Source: News Limited


Spread over three levels, each with an outdoor area, the cosy one-bedroom house at 21 Little Riley St, Surry Hills, has about 60sq m of ­internal living space, every corner of which Ms Ross has made livable.
"You just have to make each millimetre count. It's actually not as difficult as you might think to live in a home like this," she said.
Ms Ross said visitors were often surprised how much space the small home had. "One rule I think is important to live by when you have a compact space is to not let your possessions possess you," she said.
When Ms Ross bought the house five years ago, it was in an "appalling" state but she said that she could see the potential.
After both living at the home and also leasing it out, Ms Ross said it would be an emotional sale.
Di Ross at her Surry Hills Property. Despite a little layout there is a separate living room. Picture: John Appleyard
Di Ross at her Surry Hills Property. Despite a little layout there is a separate living room. Picture: John Appleyard Source: News Limited


Floorplans for 21 Little Riley St, Surry Hills. With three levels this house has two living areas and even three outdoor nook...
Floorplans for 21 Little Riley St, Surry Hills. With three levels this house has two living areas and even three outdoor nooks. Source: Supplied
"I'm sad to sell; I like to call this place my little New York loft," she said. "But it's a great alternative to an apartment for someone.
"You've got an ideal inner-city location, but you don't have those big $1000-or-more strata fees every few months. I liked the idea that it has been my own plot of land and that you can essentially do with it what you'd like," she said.
"I really wanted to configure it as a one-bedroom place but there could be scope to turn the upstairs living area to another bedroom, I suppose," Ms Ross said.
Selling agent, Andrew Stewart of Di Jones Real Estate said the rare listing was an example of how well tight living spaces can still be practical homes.
"It's very unique and would be a very good alternative to an apartment for inner city buyers," he said.
The pocket pad is set to go under the hammer on December 17. Details: Andrew Stewart on 0422 227 228.
Everything a city slicker needs; this kitchen has all the mod cons according to owner and agent. Picture: John Appleyard
Everything a city slicker needs; this kitchen has all the mod cons according to owner and agent. Picture: John Appleyard Source: News Limited
Personal space. This cosy cottage has a basement bedroom with ensuite and access to a private outdoor area. Picture: John App...
Personal space. This cosy cottage has a basement bedroom with ensuite and access to a private outdoor area. Picture: John Appleyard Source: News Limited

QLD Eagle Downs Activity again with Mining in Australia.

QLD Eagle Downs Activity again with Mining in Australia.


Aquila awards $143m contract to WDS

December 11, 2013 6:34PM http://www.news.com.au   

          Aquila awards key Eagle Downs contract

AQUILA Resources hopes the award of a major new contract at its Eagle Downs coking coal joint venture with Brazilian mining giant Vale will help to finally put to rest market concerns about Vale's commitment to the development.

Yesterday Aquila announced that it and Vale had awarded a contract worth $142.8 million to mining services group WDS for the construction of two "drifts", or tunnels, at the project.

In recent weeks Vale has detailed plans to cut spending next year and sell off a 15 per cent to 25 per cent stake in its coal operations, sparking fears it may slow work at Eagle Downs.

Coal prices have dived in recent years, sparking a wave of mine closures, including Peabody Coal's Wilkie Creek mine earlier this week.

But Aquila general manager of finance and corporate Martin Alciaturi told The Australian that the award of the drifts contract, coupled with recent comments by Vale during investor briefings in New York and London, suggested Eagle Downs would continue to progress despite the market conditions.

Vale's briefing materials estimated that Eagle Downs would rank among the lowest quartile for coking coal production costs worldwide, with the project described as "a pillar to grow a quality business in Australia".

"There has been a question mark in some people's minds about whether Vale were committed to this project, and I think this contract in particular, together with the comments they made last week, is clear evidence that they're going to come along with us and get it done," Mr Alciaturi said.

Recent closures in the coal industry had freed up capacity among mining contractors at a useful time for Aquila and Vale, he said, and would set the scene for better coal prices once Eagle Downs came into production.

"A lot of projects have been deferred now. It means you can build something in a more competitive cost environment, and it also means once you come out the other end there's a lot more other mines that won't be in production," he said.

"So it means in two to three years you might have better than average coal prices."
Shares in Aquila closed down 5c to $2.15 a share, while WDS gained 6.5c to 86.5c yesterday.
  • December 12, 2013 12:00AM
News on eagle downs.com.au website Located in Queensland’s thriving Bowen Basin 20km from Moranbah, the project is in the final stages of its business case.


Advancing with Eagle Downs Coal

Eagle Downs Coal invites you to assist in the establishment of an outstanding and sustainable mine with the potential to produce up to eight million tonnes of coking coal annually. Located in Queensland’s thriving Bowen Basin 20km from Moranbah, the project is in the final stages of its business case. Right now, we are seeking experienced mining professionals, initially based in Brisbane, to join our operations and construction management teams. Don’t miss this opportunity to advance your career!
Join Eagle Downs Coal and you’ll be joining an employer with solid corporate values that include Integrity, Safety, Excellence, Adaptability, Accountability and Teamwork. In fact, through our mission statement we commit to…create value for our customers, community and stakeholders through the safe and efficient delivery of the highest quality coal.
We also commit to creating value for our employees. You will personally benefit from working for an employer who values and respects your skills, contributions and provides you with opportunities to advance your career.
line break

Current Employment Opportunities

We are currently undergoing construction of our underground mine, and as such we are not currently recruiting any operator/trade roles. A contractor workforce has been engaged for all construction works. Recruitment for our operational workforce is expected to commence in 2016.
Project roles we are currently recruiting for include the following:    

QLD Bundaberg Activity again with Mining in Australia.

Activity again with Mining in Australia.
I am sorry but things are happening, even if the media want to say it over.
Activity of present shows upward movement even in new ventures.

Bundaberg

Fox Resources Ltd  http://www.proactiveinvestors.com.au/sponsors/593/fox-resources-0593.html
Fox Resources Ltd (ASX: FXR) is an exploration company with substantial exploration interests in Central Queensland and the Pilbara region of Western Australia.

Fox’s exploration programme covers a number of prospective coal, base metal and gold targets, a magnetite project at Mt Oscar, located 25km south of the port at Cape Lambert which is a Joint Venture with Magnetic South Pty Ltd, and the Radio Hill, Sholl and Ayshia deposits.

Fox Resources intersects coal with first hole at Bundaberg Project

Monday, December 09, 2013 by Bevis Yeo

Fox Resources' first hole at its Bundaberg Coking Coal Project in Queensland has intersected three separate coal seams totalling 2.4 metres.
Fox Resources' first hole at its Bundaberg Coking Coal Project in Queensland has intersected three separate coal seams totalling 2.4 metres.
Fox Resources (ASX: FXR) has received an encouraging start to drilling at its Bundaberg Coking Coal Project in Queensland with the first hole intersecting three separate coal seams totalling 2.4 metres.
   
Importantly, these coal seams appear similar to the coal seams intersected by the International Coal (ASX:ICX)/Hancock Prospecting joint venture in the adjacent EPC 2196.

This represents a total strike length of the coal seams in the area of 8,500 metres.

Drilling continues on the drill site at Fox 6 with a twin of the Fox 6 hole underway. The twin hole will be primarily a chip hole with a diamond core drilled through the prospective sequence.

“Intersecting 2.4m of coal over a 4.4m interval is extremely encouraging and we look forward to testing the intersected coal seams with core,” chairman Terry Streeter said.

“The continuity of the seams is promising for our continued drill program.”
Drilling Details

The Fox 6 hole has been geologically and geophysically logged for gamma, density with the intersection interpreted based on the geophysical logging.

This is expected to be the most valid and accurate indication of the coal seams as samples from the chip hole will be at least moderately to highly contaminated.

Fox 6 is located about 4.5 kilometres southeast of International Coal’s BUN013P hole which intersected 4.16 metres of coal over a 6.87 metre interval from a depth of 343.44 metres.

The twin hole will be drilled with rotary chip drilling with diamond core drilled through the prospective horizon.

Obtaining the core will allow coal quality tests to be undertaken along with density measurements improving the confidence in the current interpretation.
The initial drilling program consists of up to 7 drill holes, which is expected to be completed within three weeks.

Drilling sequence for the remaining holes will be influenced by the observed geology from the completed holes along with any weather related limitations.

All holes will be geologically and geophysically logged with chip samples tested for moisture and crucible swell number.

This will identify if the coal seams:

-    Intersected in EPC 2196 at depths of 250 metres to 588 metres are continuous and extend into Fox’s EPC1523;
-    correlate with and are continuous to shallow seams intersected in historical drilling;
   
Once drilling is completed, a structural model will be generated so as to allow resource estimation.

Fox intends to undertake further historical data compilation, target identification and possible drilling on the highest priority targets within its existing Queensland coal tenements.

Bundaberg Coking Coal Project
Based on several geological consultants’ reports and previous investigations, the most promising area within EPC1523 is a 15 kilometre north-south corridor along the western margin of the tenement.

This corridor has the potential to host a small to medium sized coking coal deposit in the order of 5 million tonnes to 20Mt.

Multiple coal seams ranging from 0.2 metres to 2 metres thick may be present over a stratigraphic interval of 5 to 20 metres. The available coal quality test work indicates that prime coking coal is potentially present.

The project also benefits from good access to key infrastructure.

Funding for the exploration program is covered by the $3.8 million package secured in early October from the Lind Partners’ Australian Special Opportunity Fund.
Analysis

Shares in Fox Resources should trade higher today on the encouraging start to its drilling program at the Bundaberg Coking Coal Project.

That the coal seams intersected in the first hole appear to correlate with those in the adjacent EPC 2196 is notable, given that International Coal and Hancock Prospecting have already established a 28.5 million tonne Inferred Resource with hard coking coal characteristics.

This is undoubtedly value-accretive for a company with a undemanding market capitalisation of $9.46 million that remains leveraged to any further exploration successes.

Share price catalysts ahead include:

-    Results from the twin hole to Fox 6;
-    Results from the remaining holes; and
-    Assays from recovered samples.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

International Coal drilling proves continuity of coal seams at Bundaberg

International Coal www.intercoal.com.au/
Full International Coal profile here
International Coal (ASX: ICX) is an Australian based resource company with a number of prospective coking coal and thermal coal projects in well known coal regions of Queensland.

International Coal drilling proves continuity of coal seams at Bundaberg

Thursday, October 31, 2013 by Proactive Investors

International Coal has drilled two chip holes that demonstrate the continuity of coal seams at its Bundaberg Coking Coal Project in the Bowen Basin, Queensland.
International Coal has drilled two chip holes that demonstrate the continuity of coal seams at its Bundaberg Coking Coal Project in the Bowen Basin, Queensland.
International Coal (ASX: ICX) has drilled two chip holes that intersected additional coal and demonstrated the continuity of coal seams at its Bundaberg Coking Coal Project in the Bowen Basin, Queensland.

Notably, Gina Rhinehart's Hancock Prospecting has now spent over $1.5 million and has met the earn-in requirements to enable the exercise of its option to acquire a 25% interest in the project.

One of the two chip holes was drilled outside the Exploration Target area.

The Bundaberg project currently hosts a 28.5 million tonne Inferred Resource with hard coking coal characteristics – including a CSN of 9 – that compare favourably to those found elsewhere in the prolific coal producing Bowen Basin.

“The two holes have intersected coal and provided us with a better understanding of the structure of the resource,” chief executive officer Glenn Simpson said.

“What may be seen is that the seams can be correlated beyond the extent of the current reported inferred resource area and that there is some variability in the seam continuity and the development of individual seams.”

Further work is required to correlate these results with previous drilling in order to better understand the extent and quality characteristics of the resource and the timing of any further drilling will be communicated to the market as soon as possible.

The company is now preparing a detailed review of this data and the Inferred Resource and Exploration Target.

Bundaberg project background

A total of six boreholes on three sites, including three core holes (BUN006C, BUN010C and BUN011C) were drilled on EPC 2196 near Bundaberg in late 2012.

A JORC Inferred Resource of 28.5 million tonnes was identified, with the Exploration Target for the area upgraded to the range of 20 to 40 million tonnes (in addition to the JORC Inferred Resource).
The coal has prized hard coking coal properties with a a Crucible Swelling Number “CSN” of 9 (10 is higest), well above the CSN range of 6.5 to 8 that is considered to be good prime quality coking coal.

Hancock is spending $3 million to earn in to a 51% interest in the project.

There is known to be significant interest shown from Asian groups in International Coal's suite of coal assets, we understand the interest has heated up of late.

Analysis

Shares in International Coal could rise today on the positive results of the chip holes that prove the continuity of the coal seams at its Bundaberg Coking Coal Project.

That one hole is located beyond the extent of the current Inferred Resource raises the likelihood that International Coal’s current resource is just the tip of large and high demand coal resource.
Proactive Investors would expect these results should add to the current JORC resource, which is already worth several billion dollars, at Bundaberg, in the near future.
Important for investors to note, the coal at Bundaberg project has prized hard coking coal properties with a Coal Swelling Index of 9 (10 is higest) as reported previously.

The Bundaberg Project also benefits from its close proximity to rail and port infrastructure and together with the Consuelo Project, holds the key to a major re-rating of the company.

Proactive Investors estimates a valuation for International Coal of $0.27 - $0.33 with a 12-18 month time line.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Tuesday, 17 December 2013

QLD New laws is prosecuting real estate agents who have discussion about price of a property going to auction

       New laws keep buyers in the dark


 New Queensland legislation will prevent price guides from being placed on properties that go to auction. Photo: Mark Cranitc...
New Queensland legislation will prevent price guides from being placed on properties that go to auction. Photo: Mark Cranitch Source: News Limited
IN these days of big data, it is impossible to protect people by withholding information. Yet the Queensland government is seeking to do just that by prosecuting real estate agents who have any kind of discussion about the price of a property going to auction with a potential buyer.
The intention is to protect sellers from having their properties undersold and to prevent underquoting to buyers. But the outcome from this draconian and downright silly piece of legislation will be exactly the opposite.
The legislation in its current form will create frustration for buyers, prevent vendors from marketing their homes as they see fit, and entrench the belief that real estate agents are a cagey bunch unable to answer a simple question. It will hurt the Queensland property market in the process
Under the proposed legislation, if a vendor chooses to sell by auction - one of the fastest ways to sell and guarantee the best possible price - agents will not be able to disclose verbally or put a price guide on any written material, including advertising.
The legislation also insists that agents must not give any kind of "market information" about a property to any person without the seller's written approval. The ability to look up a property by price on the internet for a property going to auction, the ability to use the range of free banking apps that help buyers understand how much a home could fetch - these could all become "illegal" attracting steep fines for agents. (not that they have the power to control it)
How will you know what a property going to auction is worth? Well, how much do you think it is worth to you? Blind faith will be the order of the day for auctions. This is how the state government is seeking to "protect" us.
Queensland is the only real estate market that does not allow price guides. In Victoria and NSW, price guides are common - a courtesy that allows buyers to get a feel for values and help them determine if it is worth pursuing a property or not. They are extremely popular with buyers. Research by realestate.com.au found that 66 per cent of buyers simply walk away from a property if no price is indicated.
In the southern states, price guides not obligatory. Agents and vendors can choose to use, or not use, a price guide, depending on their marketing approach and most require written permission from the vendor stating they understand the strategy. The transparency however is one of the key reasons why auctions are more popular in those states. The result is billions of dollars of additional revenue from stamp duty than Queensland enjoys.
To be fair, there is much that is good in the Property Occupations Bill 2013. Queensland has long had some of the most burdensome legislation around real estate, much created unnecessarily because it was tied to the Motor Dealers Act. It is right that red tape should be cut, and to introduce measures to protect both buyers and sellers from being ripped off from some of the industry's shadier characters.
But if the government is serious about empowering property buyers and sellers, it should make information about prices more transparent, not less. In a democracy, it is the role of the government to protect citizens through clarity of information, not legislate to keep them in the dark.

Abbott getting behind Olympic Dam expansion again

Abbott getting behind Olympic Dam expansion again

17 December, 2013  

Abbott getting behind Olympic Dam expansion again

Prime Minister Tony Abbott has reiterated his support for the Olympic Dam expansion.
Speaking yesterday, he told reporters that “I want to ensure that as far as is humanly possible everything that government does is directed towards making it easier, not harder, for this iconic project to go ahead,” according to Bloomberg.
The mine's US$20 billion planned expansion was one of the largest potential mining operations in Australia, however it was cancelled in August last year by the mine's owner BHP.
At the time is blamed the move on weak commodity prices and spiralling costs.
"As we finalised all the details of the project in the context of current market conditions, our strategy and capital management priorities, it became clear that the right decision for the company and its shareholders was to continue studies to develop a less capital intensive option to replace the underground mine at Olympic Dam," BHP's CEO at the time, Marius Kloppers, said.
"We believe [the] decision reflects an appropriate, prudent and disciplined course of action."
It stated that it may focus again on the extension by using new technology to develop the operation.
At the time accusations flew over the 'real' cause of the expansion halt, from the mining tax to the lack of support from the South Australian Government.
Despite the miner putting the expansion the backburner, the South Australian Government still gave a four year extension to BHP's Olympic Dam proposal time.
Since the CEO change at BHP the mine's development once again came back under the spotlight after BHP again sought another extension from the SA Government to expand the site.
We continue to look at new ways technologically as to how we could further expand the existing operation of Olympic Dam," newly promoted CEO Andrew Mackenzie said.
"We see a lot of potential there, but we take a long-term view and we have to find something that is economically competitive, and that does require a technological breakthrough."
However he did point to a sluggish uranium sector as increasing pressure across the sector and hamstringing the operation.
Now Abbott has thrown is support behind its future expansion.
"The Olympic Dam expansion is the best thing that could happen for the economy of South Australia," Abbott told reporters.
"The Olympic Dam expansion, should it take place, would set South Australia up for decades, absolutely decades."
However neither Abbott nor BHP stated whether they had been in talks on the mine's future or its expansion.

QLD Blackwater Thiess secures $570m mine contract extension

QLD Blackwater Thiess secures $570m mine contract extension
Four-year contract awarded by Wesfarmers Resources.
In a disclosure to the Singapore Exchange, Leighton Finance (USA) Pty Ltd announced that Thiess has been awarded by Wesfarmers Resources a four-year contract worth $570 million to extend Thiess’ involvement in the Curragh North Coal Mine, near Blackwater in Central Queensland’s Bowen Basin.



Located 20 kilometres north of Wesfarmers’ existing Curragh Mine in Queensland’s Bowen Basin, Thiess’ involvement in the Curragh North project includes removal of overburden, coal mining and rehandling coal.
Excavation of the first boxcut began at the site on November 20, 2004 and by the end of the initial contract in May 2008 approximately 90 million cubic metres of overburden had been removed and 11 million tonnes of coal had been mined by Thiess.
Thiess is contracted to remove a further 85 million cubic metres of overburden and mine approximately 16 million tonnes of coal and eight million tonnes of rehandle during the current contract term. Under the new contract Thiess is contracted to remove up to 55 million cubic metres of overburden every year.

The current workforce consists of approximately 240 management, technical, operational and maintenance team members. Under the new 10-year contract this workforce will grow to 360 team members. 

The contract extension complements the current 10-year agreement signed in 2010 and will see Thiess continue its activities to optimise productivity in overburden removal and coal mining. Wesfarmers Resources Managing Director Stewart Butel said Thiess was awarded the scope of work extension in a very challenging environment for the industry.

“Thiess has worked collaboratively with us to review areas of efficiency and agree on a strategy that will ensure Curragh maintains its position as a cost-competitive operation,” he said. Thiess Managing Director Bruce Munro welcomed today’s announcement and paid tribute to the ongoing relationship between Thiess, Wesfarmers Resources and the Curragh mine.

“We have worked closely with Wesfarmers Resources since 2004 at the Curragh North operation and this contract extension will deliver greater value in challenging times to benefit the mine and our stakeholders,” Mr Munro said.

Leighton Holdings Chief Executive Officer Hamish Tyrwhitt noted the announcement is the second for the Group in the Bowen Basin in the space of a month, highlighting Leighton’s capabilities. “The Curragh North extension and Thiess’ $550 million Lake Vermont expansion announced last month are compelling testimony to the value proposition the Leighton Group has in the contract mining market,” Mr Tyrwhitt said.

Wesfarmers Curragh will continue to provide dragline operations and drill and blast with no change to the Ultra Class fleet provided by Thiess under the current 10-year contract. 
- See more at: http://sbr.com.sg/energy-offshore/more-news/thiess-secures-570m-mine-contract-extension#sthash.OpI7ZfE1.dpuf

Thiess secures $570m mine contract extension

Four-year contract awarded by Wesfarmers Resources.
In a disclosure to the Singapore Exchange, Leighton Finance (USA) Pty Ltd announced that Thiess has been awarded by Wesfarmers Resources a four-year contract worth $570 million to extend Thiess’ involvement in the Curragh North Coal Mine, near Blackwater in Central Queensland’s Bowen Basin.
The contract extension complements the current 10-year agreement signed in 2010 and will see Thiess continue its activities to optimise productivity in overburden removal and coal mining. Wesfarmers Resources Managing Director Stewart Butel said Thiess was awarded the scope of work extension in a very challenging environment for the industry.
“Thiess has worked collaboratively with us to review areas of efficiency and agree on a strategy that will ensure Curragh maintains its position as a cost-competitive operation,” he said. Thiess Managing Director Bruce Munro welcomed today’s announcement and paid tribute to the ongoing relationship between Thiess, Wesfarmers Resources and the Curragh mine.
“We have worked closely with Wesfarmers Resources since 2004 at the Curragh North operation and this contract extension will deliver greater value in challenging times to benefit the mine and our stakeholders,” Mr Munro said.
Leighton Holdings Chief Executive Officer Hamish Tyrwhitt noted the announcement is the second for the Group in the Bowen Basin in the space of a month, highlighting Leighton’s capabilities. “The Curragh North extension and Thiess’ $550 million Lake Vermont expansion announced last month are compelling testimony to the value proposition the Leighton Group has in the contract mining market,” Mr Tyrwhitt said.
Wesfarmers Curragh will continue to provide dragline operations and drill and blast with no change to the Ultra Class fleet provided by Thiess under the current 10-year contract. 
- See more at: http://sbr.com.sg/energy-offshore/more-news/thiess-secures-570m-mine-contract-extension#sthash.OpI7ZfE1.dpuf
Thiess secures $570m mine contract extension
Four-year contract awarded by Wesfarmers Resources.
In a disclosure to the Singapore Exchange, Leighton Finance (USA) Pty Ltd announced that Thiess has been awarded by Wesfarmers Resources a four-year contract worth $570 million to extend Thiess’ involvement in the Curragh North Coal Mine, near Blackwater in Central Queensland’s Bowen Basin.
The contract extension complements the current 10-year agreement signed in 2010 and will see Thiess continue its activities to optimise productivity in overburden removal and coal mining. Wesfarmers Resources Managing Director Stewart Butel said Thiess was awarded the scope of work extension in a very challenging environment for the industry.
“Thiess has worked collaboratively with us to review areas of efficiency and agree on a strategy that will ensure Curragh maintains its position as a cost-competitive operation,” he said. Thiess Managing Director Bruce Munro welcomed today’s announcement and paid tribute to the ongoing relationship between Thiess, Wesfarmers Resources and the Curragh mine.
“We have worked closely with Wesfarmers Resources since 2004 at the Curragh North operation and this contract extension will deliver greater value in challenging times to benefit the mine and our stakeholders,” Mr Munro said.
Leighton Holdings Chief Executive Officer Hamish Tyrwhitt noted the announcement is the second for the Group in the Bowen Basin in the space of a month, highlighting Leighton’s capabilities. “The Curragh North extension and Thiess’ $550 million Lake Vermont expansion announced last month are compelling testimony to the value proposition the Leighton Group has in the contract mining market,” Mr Tyrwhitt said.
Wesfarmers Curragh will continue to provide dragline operations and drill and blast with no change to the Ultra Class fleet provided by Thiess under the current 10-year contract. 
- See more at: http://sbr.com.sg/energy-offshore/more-news/thiess-secures-570m-mine-contract-extension#sthash.OpI7ZfE1.dpuf

Thiess secures $570m mine contract extension

Four-year contract awarded by Wesfarmers Resources.
In a disclosure to the Singapore Exchange, Leighton Finance (USA) Pty Ltd announced that Thiess has been awarded by Wesfarmers Resources a four-year contract worth $570 million to extend Thiess’ involvement in the Curragh North Coal Mine, near Blackwater in Central Queensland’s Bowen Basin.
The contract extension complements the current 10-year agreement signed in 2010 and will see Thiess continue its activities to optimise productivity in overburden removal and coal mining. Wesfarmers Resources Managing Director Stewart Butel said Thiess was awarded the scope of work extension in a very challenging environment for the industry.
“Thiess has worked collaboratively with us to review areas of efficiency and agree on a strategy that will ensure Curragh maintains its position as a cost-competitive operation,” he said. Thiess Managing Director Bruce Munro welcomed today’s announcement and paid tribute to the ongoing relationship between Thiess, Wesfarmers Resources and the Curragh mine.
“We have worked closely with Wesfarmers Resources since 2004 at the Curragh North operation and this contract extension will deliver greater value in challenging times to benefit the mine and our stakeholders,” Mr Munro said.
Leighton Holdings Chief Executive Officer Hamish Tyrwhitt noted the announcement is the second for the Group in the Bowen Basin in the space of a month, highlighting Leighton’s capabilities. “The Curragh North extension and Thiess’ $550 million Lake Vermont expansion announced last month are compelling testimony to the value proposition the Leighton Group has in the contract mining market,” Mr Tyrwhitt said.
Wesfarmers Curragh will continue to provide dragline operations and drill and blast with no change to the Ultra Class fleet provided by Thiess under the current 10-year contract. 
- See more at: http://sbr.com.sg/energy-offshore/more-news/thiess-secures-570m-mine-contract-extension#sthash.OpI7ZfE1.dpuf

Someone is playing Silly buggers on Realestate.com.au

Someone is playing Silly buggers on Realestate.com.au


Its quite funny really I wonder how long it will stay up for ?
here is the link
http://www.realestate.com.au/property-house-nsw-sydney-115526135

Monday, 16 December 2013

Bantham in England to be sold for $17 million

Bantham in England to be sold for $17 million


The tiny village of Bantham in Devon is to be sold. Picture: Snapper Media.
The tiny village of Bantham in Devon is to be sold. Picture: Snapper Media. Source: Supplied
ALMOST the entire Devon seaside village of Bantham is set to be placed on the market for $17 million, complete with a beach, pub and rows of picturesque thatched cottages.
Evans Estates, which owns land, buildings and the popular surf beach at Bantham in South Devon, is being listed in spring 2014.
The tiny village of Bantham in Devon is for sale. Picture: Snapper Media.
The tiny village of Bantham in Devon is for sale. Picture: Snapper Media. Source: Supplied

The entirety of the estate - which also includes land and properties in Wales and Dorset - is being sold for $60 million.
Residents of the village, where almost all the properties are owned by the estate, received letters last week confirming that the town and its surrounding land will be put up for sale.
The hotel The Sloop Inn is being sold as part of the package. Picture: Snapper Media.
The hotel The Sloop Inn is being sold as part of the package. Picture: Snapper Media. Source: Supplied

The town, which has 25 homes, a pub, a harbour and a shop, has been gripped by uncertainty since the sale was announced.
"Obviously there is anxiety in the village, with many of us worrying about whether we will lose our homes," said Barbara Tucker, who is a tenant of Evans Estates, one of the largest family-owned estates in Britain, and runs Bantham village shop.
"We can only hope and pray that the new owners will be sympathetic to the locals.
"Many people here have lived in Bantham for 60 years or more, with some tenancies being passed down through several generations of the same family.
"For all we know the new owners could bulldoze the village down and build high-rise flats.
Some of the houses are used as holiday homes but the tenancies have been passed down through generations and so the tenants know the village and people well, she said.
"It's a very special and close little village."
Locals received letters confirming that the village and its surrounding land will be put up for sale. Picture: Snapper Media.
Locals received letters confirming that the village and its surrounding land will be put up for sale. Picture: Snapper Media. Source: Supplied

Bantham overlooks the famous tidal island of Burgh which inspired Agatha Christie when she wrote And Then There Were None, as well as the Hercule Poirot mystery Evil Under The Sun.
Bantham's website states: '[Our] ethos has always been to allow Bantham to remain a place of outstanding beauty, with the village's old thatched cottages portraying an image of unchanging charm and the beach and its surrounds staying as wild and natural as can be.
Bantham overlooks the island of Burgh which helped inspire Agatha Christie. Picture: Snapper Media.
Bantham overlooks the island of Burgh which helped inspire Agatha Christie. Picture: Snapper Media. Source: Supplied

The landlord of pub in the village said Evans Estates had been responsible and well-liked landowners over the years.