Tigers Realm Coal ramps up Russian operations

Heads of Agreements with Project Joint Venture Partners As reported to the ASX on 29 June 2016 and subsequently updated in the December 2016 Quarterly Report, TIG has signed two binding Heads of Agreement (HOAs) with its joint venture (JV) partners - one in relation to the Amaam North Project, and the other in relation to the Amaam Project. Following the detailed work required to prepare and agree the binding documentation, the parties have prepared the final versions of the related agreements including key commercial terms pertaining to Amaam North and amendments to the Amaam agreement. Apart from the required corporate approvals, our JV partners are currently undertaking some restructuring of their holdings prior to the agreements being executed. The completion and final signing of the documents will proceed once this restructuring has been completed. The conditions agreed in the documentation are in line with the HOAs, will take TIG’s ownership of Amaam North to 100%, will improve Amaam North Project’s value and fundability, and simplify ongoing corporate and approval processes for the Amaam Project. Governor’s Visit to Site During February, the Governor of Chukotka, Roman Kopin visited site with senior members of the Administration and the head of the Municipality of Anadyr. A news crew accompanied the Governor and the visit was reported on the evening television news across Russia – http://tigersrealmcoal.com/wp-content/uploads/2017/03/News_Report_On_Governors_Site_Visit.mp4

The Governor visited the surface mine, haulage road and port stockpiles. Following the visit, he communicated his positive impression of the operations and site management team. Discussions during the visit focused on aspects of the operation that could be improved through cooperative arrangements between the company and the Chukotka Regional and Municipal Governments.