The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Kevin van Wouw, CEO of Cradle Arc, commented:
"While it is unfortunate that we have had to take this step, provisional liquidation as opposed to final liquidation is by no means the end for Mowana, but rather provides the Company an opportunity to continue talks, along with the provisional liquidator, for a sustainable funding solution at the mine."
Some hope there..lets see..
Cradle Arc plc / EPIC: CRA.L / Market: AIM / Sector: Mining 18 December 2018 Cradle Arc plc ("Cradle Arc" or the "Company") Application for Provisional Liquidation of Leboam Holdings Cradle Arc (AIM: CRA), the African focused base and precious metals exploration and production company, announces that the Company has made an application to the Botswana High Court for its 60 per cent. owned subsidiary, Leboam Holdings (Pty) Limited ("Leboam"), the holding company of the Mowana Copper Mine in Botswana ("Mowana" or the "Mine"), to be placed into provisional liquidation as parallel talks on an alternative funding arrangement continue. The application is set to be heard on Wednesday, 19 December 2018. This follows the Company's announcement on 6 December 2018, where it was revealed that whilst Fujax advanced the sum of US$1m to Leboam pending completion of the extended facility, Fujax has now informed the Company that it will not permit any further drawdowns unless Leboam agrees to vary the previously agreed, but not legally binding, terms and grant security over its interest in the Mowana Copper Mine in Botswana for all outstanding historical and new debt owed to Fujax. The current security holders have not agreed to this request. The Company has been notified that Fujax and Leboam's 40 per cent. shareholder have made a separate application to the Botswana High Court, to be heard today, 18 December 2018, for judgement to consider placing Leboam under judicial management and in the alternative, that is after the Court refuses to grant judicial management order, to place it under, provisional liquidation. Cradle Arc is opposing the application for judicial management on the basis that Fujax has neither provided a viable alternative financing plan for Leboam, nor a credible business plan for the Mowana mine. Although operations at the mine have been suspended, significant remedial action has been performed on the process plant, the water provision from its wellfield and various other infrastructural elements of the mine. Rental agreements for mining equipment have been cancelled, and equipment removed from site pending settlement of outstanding and overdue creditor balances. Kevin van Wouw, CEO of Cradle Arc, commented: "While it is unfortunate that we have had to take this step, provisional liquidation as opposed to final liquidation is by no means the end for Mowana, but rather provides the Company an opportunity to continue talks, along with the provisional liquidator, for a sustainable funding solution at the mine. **ENDS** For further information on the Company, please visit www.cradlearc.com or contact: Cradle Arc plc Kevin van Wouw Mark Jones Tel: +44 (0)20 7637 5216 Strand Hanson Limited James Spinney Matthew Chandler James Dance Tel: +44 (0)20 7409 3494 SP Angel Corporate Finance LLP Ewan Leggat John Meyer Tel:
http://www.mmegi.bw/index.php?aid=78943&dir=2018/december/14
Not good reading - they need to sort out finances quickly to stop debts piling up here.
@Baiki, there are some good junior AIM mining companies about, but you can count them on two hands. If I knew what I know now, then I wouldn't have invested in ALO, the precursor to CRA, and a few others, but you live and learn, and without making mistakes, you wouldn't learn. Even blue chips I've invested are down significantly, so this should put people on notice and to invest their money wisely (perhaps get out of the markets completely)
A growing lack of liquidity is going to be a problem in the west in the coming months and years, so the rest of the world is undoubtedly going to be affected first. So, you can draw your own conclusions about that.
If CRA could get things into shape, then they've got the possibility to survive the financial trouble ahead and benefit from an upturn in future. It's all up in the air, but I've lost a lot of my hope to cold hard cynicism. Good luck.
*e.g. not egg
Hi Mcfirth,
No need to be sorry... You are quite right, I had not done my homework before I 'invested' (more like a gamble). It is good that you acknowledge that I have tried to do it since. I have gone through the available information from the company website, gone through the discussions of previous incarnations of the company, tried to find out more about the entities involved egg. Fujax, ZCI etc, who are the directors how many employees, what projects they have been involved in before. And it does not inspire confidence. It is funny how CRA was citing ZCI as a JSE listed company (which incidentally was in the process of being delisted from the JSE) supposedly to infer some confidence. While ZCI would cite CRA as listed on AIM London listed (currently on suspension) again supposedly to instill confidence. From what I could find on fujax CRA copper seems to be its biggest undertaking. The other activities it lists are quite frankly underwhelming. I could go on however I get the feeling that you would rather I didn't. Again I have no agenda, I just thought I would share my thoughts based on what I have seen so far. I am always open to different opinions. And I fully appreciate that someone else could scratch around the Internet and come to a different conclusion. For the record I would like to see this succeed, however blind optimism doesn't seem like a solution. Anyone who comes to the rescue of CRA with the necessary funds will want something for their troubles /investment. Most likely diluting current shareholders further. This has happened before, and will most likely happen again. I welcome your perspective and admit mine is somewhat negative, however it is just an opinion and shouldn't get anyone to hot under the collar.
Hi Baiki
Not sure who you are my friend ....even less unsure of your motives here ....
Seems you’ve been negative here right from your first of 16 posts incidentally all on CRA
Not sure why you’d invest in something very recently that you feel is doomed .... you don’t seem to have done your homework before ( supposedly) but you seem to have been doing it since ...
your posts don’t feel right to me .
Sorry ....
I think you mean just ignore any different opinions. There is only one true opinion, and you are the custodian. Good luck.
Just ignore trolls.
Baiki, can't really see any resemblance to CRA and below article...
Its very simple here, IF CRA comes back with full funding and then confirmation of nameplate production then this share will be one of the best performing share in 2019 - no doubts.
Good luck!!
An old story from 2015, but little has changed.
https://www.google.com/amp/s/amp.ft.com/content/5c1c3ba6-1513-11e5-9509-00144feabdc0
As usual some will be livid, while others will engage in a thought process, reflect and seek to assess which category this share resembles ASOS or any of the other examples cited in the article.
Yes, Fundamentals looking good..Just need funding and operational issues sorted and we will take off..news soon hopefully
Great article, really like this part....
But, even if all the major miners would like to produce more copper to catch the current price, or a future increase, they are unlikely to achieve that aim because most potential new mines are several years from starting production while a recent spate of significant discoveries in South America and Australia will take even longer to develop.
Absolutely
Yes, effectively 73-75% Mowana ownership is with key players (ZCI, Kevin and II's) so they have much bigger stakes here than us PI's..Its in their interest to sort out finance issues without much dilution..lets see
Obviously Aiden Feeney went to 3.57% 04/12
In accordance with the AIM Rules (Rule 26), in so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 42%. There are no securities held as Treasury shares and there are no restrictions on the transfer of shares.
Key Shareholders as at 11/10/2018 which hold more than 3% in the Company: Kevin van Wouw* 115,517,689 38.73% Hadron Capital LLP 22,839,456 7.66% IMF Independent Fund Management AG 13,718,803 4.60%
Well said Med.
You have to take some of the comments on here with a pinch of salt, whilst I’m invested here and my views slanted bias towards, I nonetheless have no hidden agenda. Shame on those who have sprung up and started mocking Pi’s of their misfortune, FFS have a little decorum. It is not game over, it’s only temporary suspension, we still have game to play for, I’m optimistic of a positive resolve, just here to warn Pi’s not to fall victim to this ‘beat-raid’ tactic as those on the sidelines are itching for cheap entry should it be ready for trade again, just be cautious of the wolves in sheep’s clothing is all.
Almost a pity we can't buy atm!
ooozing positivity on here. Makes a nice change when so many have had a slapped 4rse.
It's rubbing off on me I have to say.......
Come on CRA!
Lender got greedy by the sounds of it
It’s a amazing asset and I bought in when finance package was sorted. I think it will come good.