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morning jono! pls explain? cheers
Well a small mine to keep the payroll going
David Brown has achieved nothing in the last five years that has been positive for the share price and hence shareholders....
With CZA, it will always be News Tomorrow. As we have all found to our cost over the past few years..... tomorrow NEVER comes...
Hemm's yes the last sentence of my post of Saturday 25th about what the company has said is " The Company will update the market on or around 31 March 2017." which could be today.
Sandhopper suggested something might happen today as the $10m could not be used before this date. The company itself didn't say 'news next Friday' whichever way you try and spin it
Now Jonathon... Although its Friday, When they say news Next Friday, don't take it literally as 'Next' Friday, they mean Next Friday, or even the Friday after... If we were anywhere near remotely releasing anything interesting.... the directors would be buying. And they never have - oh unless you count the buy just before the news re Makhado....
Yay it's Friday!
Not worried hemms. Company in a far better position now than 3 years ago. Disclaimer....I bought more at 47,48, levels on jse the last week.
53 ZAr trading, or 3.30p. Interesting.
Don't worry Jantand, I spoke with our mutual friend today and things are 'close' I'm also buoyed by the negative sentiment on here.
They had $37 million back in june 2015. Now they need to raise $10 million to do the actual stuff .... They need extra money to pay rio, start vele, pay salaries. I bet the only money left is that 2 milloon recent placement and that will have been burnt. can anyone see how the SP will rise.
But all the time that "necessary" dilution is an inevitability who is going to invest now? Certainly not the pi's because they always get shafted through the continuous dilutions that they themselves are not able to participate in. So therefore what is going to get the sp up? All the time it falls it reduces the ability of the BOD to raise money.... A viscious circle that I see no way of breaking out of.....
Despite his insider trading deal did he or any members of the board deserve bonuses or incentives based on the companies desperate position....
I live in sa and the current policy uncertainty, corruption and absolute incompetence by our officials in government make regulatory matters, applications, ect very frustrating. Infighting in the anc caused malaise with regard to service delivery especially on these matters. I am in constant contact with dB and I trust him. Monies are not wasted but are used to clean up nonsense caused by legacy issues( Wallington) well documented. We have not and will not sink because dB are getting funding to his credit. Dilution is inevitable. Macro economics hasn't played ball since 2011 and are looking better. So monies go to applications for regulatory paperwork, paying off legacy issues,paying people on groundlevel to interact with the makhado and gsp communities to get them on board, lawyers,takeover deals, ect. Now I am telling you that once we get past all this political nonsense and get paperwork in order things will happen quickly. Vast resources, Chinese industrial Park, gsp assets, are obvious reasons to hold on. Dilution is unfortunately necessary otherwise how will we get money?
I admire your confidence Jantand, though have to question where that confidence comes from? There seems very little to justify it at the moment and I am not at all surprised that there are few, if any, buyers at present..... Even if yoo#u are right Jantand how many dilutions are there going to need to be between now and then just to keep paying our BOD? We have no producing assets and no , what on earth are we paying most of these people to do? They could go out and dig for the bloody coal whilst nothing else is happening... What on earth are we actually paying all these people to do in the meantime?!?!?! Fairly soon it will be a case of one of them turning the lights off.....
What coo debacle? This is a joke!
Hi hemms there are so many rumours and after the recent coo debacle I would expect the bod to keep very quiet. It will happen. Today,tomorrow, next year,who knows. When all the ducks are in a row the news will come thick and fast.
I had heard something about Friday, an alternative to Keaton but don't know who, not as big although ticked all the right boxes. You heard anything Jantand?
Further investment The Company entered into a conditional agreement with an external party to raise $10 million via the issuance of new equity, which will be subject to shareholder approval. A circular including further details of this investment will be sent to shareholders when the Company is in a position to disclose additional detail. The use of these funds is restricted until 31 March 2017. However if certain conditions precedent are not met by this date the funds can be used at the Company's discretion subsequent to receipt of shareholder approval, and become unrestricted. The Company will update the market on or around 31 March 2017.
My bids are in low but no sellers.
At these levels? What levels 3.49 or 2.79? The 3.49 offer price hasn't changed materially for months the MM's just widen the bloody spread.... I would be a buyer below 3.0p but the MM's seem to want their cake and eat it - taking the pi55.
At these levels.....
Coal of Africa COO resigns after insider trading fine Thu, 23rd Mar 2017 14:46 (ShareCast News) - Coal of Africa's chief operating officer Michiel Jakobus Brönn has resigned after being fined by the Financial Services Board of South Africa for insider trading. The company announced last week that Brönn had been fined for insider trading that occurred in May 2015 after he was instructed by the chief executive officer not to trade shares. The FSB fined Brönn 350,000 rand for purchasing 117,000 shares on the Johannesburg Stock Exchange three days before the company announced that it had been awarded mining rights for the Makhado project, which is its most advanced asset. "Mr Brönn will forfeit all share based incentive awards and shall not be entitled to receive any bonus payments for the year ending June 2017," the company said on Thursday.
I think you have bought dog shit ? Could come good might take another few years Due a bounce soon !