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Ask him about that 114m USD from hengshun and also about bbbeee status which we need if we want to sell product locally If bbbeee partner in place then also blue sky
Thanks. Well i hope to get to the meeting on June 15. DB's making the trip so am trying to juggle schedules to attend. At least things seem to be falling into line. Vele approval by end of quarter and it appears that despite a few boxes to tick, we'll have Uitkomst on 1 July. Exciting times ahead i hope.
Hi boz The election of trump caused the Chinese to take stock and there was a limit introduced. The issue with vele is the distance to clients.we need high prices that is sustainable in order for vele to resume. So no near action there unless we can supply to a near independant power producer. Mooiplaats sale due. Enough cash for Rio. Enough cash for next 18 months. The industrial economic zone also backed by hengshun as far as I understand will come in play about the same time as makhado start to produce. I have been patiently nibbling and have acquired a small army of cza babies now and am confident they will grow up nicely over the next 2 years. Only risk is anc policy conference end june which will give us guidance. We need a bbbeee partner and if there is no political disturbances ( big N word) then blue skies ahead. 1 July uitkomst on the books. More acquisitions ahead Sp very undervalued in spite of solutions imo
Hi Jantand, maybe things are starting to go our way. You may know the answer to this. We previously signed an MOU to sell 34% of the Makhado project to Hengshun. Do you know where we are with this now? i previously had a conversation with DB after the IWUL was suspended, as they would need the green light before they would invest in Makhado (as would anyone). They had i belive done a decent amount of due diligence. Now this has been lifted is this back on? Or is Hengshun constrained by Chinese regulations about overseas investments? I also note this MOU was signed on 2 December 2015, and it must be fairly evident that coal prices are significantly higher since then. API4 quarterly contract now at $74.40 against $52.20 back in December 2015 (+43%) so we should be in a fairly healthy position now. The deal valued the project at $335m compared with the current market valuation of the company at $85m. Seems a no-brainer now at these levels, especially if we complete the acquisition of Uitkomst, and the potential for Vele to come on-line. I'm beginning to get excited again.
Coal of Africa Limited (“CoAL” or the” Company”) is pleased to advise that the suspension of the Integrated Water Use Licence (“IWUL”) for the Makhado Project has been lifted by the South African Minister of the Department of Water and Sanitation (“DWS”), Ms Nomvula Mokonyane. In April 2016, an appeal was lodged against the decision by the DWS to grant an IWUL to Baobab Mining and Exploration (Pty) Ltd (‘Baobab”) for Makhado in terms of Section 41 of the South African National Water Act (Act 36 of 1998) (‘the Act’). Following representation by the company in May 2016 and February 2017, the Minister exercised her discretion and lifted the suspension in terms of Section 148 (2) (B) of the Act. The IWUL is now executable. The appellants have the opportunity to voice their concerns through the Water Tribunal. The lifting of the appeal by the Minister and the recently announced finance facility by the IDC are key steps in the advancing of the Makhado Project. Chief Executive officer of CoAL said, “The lifting of the suspension of the IWUL by the Minister is welcomed as this decision completes the suite of regulatory authorisations required for the Makhado Project. It further confirms government’s support for the Makhado Project and its potential to drive sustainable socio-economic transformation. We will continue to work with all parties to ensure that the matter is completed satisfactorily, and furthermore to secure the remaining surface rights.”
ANNOUNCEMENT 29 May 2017 MINISTER LIFTS THE APPEAL AGAINST INTEGRATED WATER USE LICENCE AT MAKHADO PROJECT Coal of Africa Limited (“CoAL” or the” Company”) is pleased to advise that the suspension of the Integrated Water Use Licence (“IWUL”) for the Makhado Project has been lifted by the South African Minister of the Department of Water and Sanitation (“DWS”), Ms Nomvula Mokonyane. In April 2016, an appeal was lodged against the decision by the DWS to grant an IWUL to Baobab Mining and Exploration (Pty) Ltd (‘Baobab”) for Makhado in terms of Section 41 of the South African National Water Act (Act 36 of 1998) (‘the Act’). Following representation by the company in May 2016 and February 2017, the Minister exercised her discretion and lifted the suspension in terms of Section 148 (2) (B) of the Act. The IWUL is now executable. The appellants have the opportunity to voice their concerns through the Water Tribunal. The lifting of the appeal by the Minister and the recently announced finance facility by the IDC are key steps in the advancing of the Makhado Project. Chief Executive officer of CoAL said, “The lifting of the suspension of the IWUL by the Minister is welcomed as this decision completes the suite of regulatory authorisations required for the Makhado Project. It further confirms government’s support for the Makhado Project and its potential to drive sustainable socio-economic transformation. We will continue to work with all parties to ensure that the matter is completed satisfactorily, and furthermore to secure the remaining surface rights.” Authorised by David Brown Chief Executive Officer
Fantastic news
well South Africa is open even if we're not..... *COAL OF AFRICA: WATER LICENCE SUSPENSION LIFTED FOR MAKHADO
Shows good demand when offered at 2.80!!
Bozmo, 560000 shares bought 9000 sold and the share price drops. Looking Good, Ha Ha
Bozmo, I've heard it all before, the only thing June will bring is another salary increase or free options handed out to the Directors.
JUNE 15th
as opposed to encouraging others to sell so you can buy dukey as you've done previously? i can only assume you being here again is to buy ahead of the Uitkomst deal completion and the probability of having Makhado suspension overturned by the end of the quarter. maybe we can discuss on June 18th at the shareholders meeting?
Jantand, you where bragging about this share 2 years ago, how wonderful it was, it's even less now than your rants 2 years ago, big spread, no news no one buying this stock, but you know what the good news is, The Directors are still getting their big fat salaries. Please wise up and stop leading inexperienced newcomers to waste their money.
I love dogs then....
The duke is back looking for a cheap entry! You de-ramped this share before - then went long Where now Sir ?
This stock is a dog, it had dog written all over it some time ago I have said this for about 2 years now, and guess what their big fat salaries continue, in my opinion it is legalised theft, what is that damned FCA doing, unless they have their eye on other AIM stock, as the AIM market stinks to the core. There are only two options open to this company, 1) they run out of money and go bust, 2) they run out of money and can't get further funding and are taken out for a song ( Goodnight Irene, Goodnight Irene ). Where is that Boy Jatland, the guy that thought CZA were the greatest thing since sliced bread. Folks cut your losses, as if they are not hefty enough now.
Is there new news out? JSE bids are strange. Hope we don't slide today.
Hello bunny1, have emailed you this afternoon.
Are you still around?
Try the Dragons Den
Where do you work from is it Nigeria! Lol
I know I am naughty. but I have to ask. I have a great investment opportunity in Dubai with a possible 2500% 5 Yr ROI. Min investment 22K, I'll let you work out the return! This is my business and you will become a Direct Shareholder, not an investor. Only 37% left up for grabs. Apologies for Off Topic, but I am invested here :)
2x250k purchases. Nice to see. And Uitkomst completion 1st July. Anyone going 15-June? Don't think I can make it
Notice of General Meeting On 5 April 2017, Coal of Africa Limited (ASX, AIM, JSE: CZA) (“CoAL”) announced the acquisition of the Uitkomst Colliery for R275 million (the “Acquisition”), and an aggregate US$13 million equity investment from Summer Trees Pte and M&G Investment Management Limited (the “Subscription”). Furthermore, the Company announced on 1 February and 17 February 2017 that it had issued 49,007,596 ordinary shares (the “Placement Shares”) to M&G Investment Management Limited to raise US$2 million (the “Placement”) and the conversion of a US$10 million loan with Yishun Brightrise Investment Pte Limited (“YBI”) to CoAL ordinary shares (the “Conversion”). 240,042,603 ordinary shares were issued immediately with the issue of the second tranche of 4,995,378 shares (the “Conversion Shares”) to be converted into equity following shareholder approval. The board of CoAL is pleased to announce that, in connection with the Acquisition the Subscription, the Placement and the Conversion, the Company has today posted a formal notice (“Notice”) convening a general meeting of CoAL's shareholders (“General Meeting”) to seek shareholder approval for, amongst others, the issue of the Consideration Shares, the Subscription Shares, the Placement shares and the Conversion Shares. The Notice is available on the Company's website www.coalofafrica.com. The General Meeting will be held on 15 June 2017 at 10:00 a.m. (BST) at the offices of Tavistock Communications, 1 Cornhill, London, EC3V 3ND, United Kingdom.