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Everything still on track apparently. Notice of shareholder meeting to be sent out this week. Rerating from explorer to producer as deal comes to fruition
agree !00% with you jantand
in contrast to doomsayers on this board it is my view that you short this company now at your own peril. it is in a far better position than a year ago and slowly becoming relevant, good luck all and dyor
we should know by end of june about makhado water suspension. cza has no reason to believe that this wont be overturned and there are no issues that they know of. again this is not an official deadline all depends on government but all due processes were followed. uitkomst will be on our books 1 july and we will be a producer after a long 4 years! we have no cashflow issues for rio payment and the start of makhado construction or for the going concern which is cza. vele is looking for a stronger spot price because of logistic costs to get coal to suppliers. or supply coal to a nearby independant power producer. vele is not an issue now but a medium term play. mooiplaats could be done today or whenever potential buyers get funding. these are my own ideas as a result of my own research. the weel is slowly turning so a lot of patience required here as always. also uncertain political environment. china is also waiting for our political situation to stabilize before they commit more ...
def.. worth a punt
Hopefully the 3 year chart keeps true to itself. Every April shows a R1+ spike
This is now a strong buy: The company should start to re-rate from an explorer to a producer. This should be done by the end of next month once the deal is complete. Following the incompletion of the Universal deal, the market might want to see completion before the share price reacts and in many ways this is understandable. However, in this case we now have the monies available for the purchase and not waiting for the Universal/Eskom deal to come to fruition. This is the first in a number of acquisitions, with another similar one expected in the next 6-12 months. The acquisition of Uitkomst is a positive first step. When this is coupled with the Makhado project and potential restart of Vele then it will represent a complete reinvention of the Company. The overturn of Makhado IWUL suspension and the completion of Vele licences are expected ‘soon’. How soon is really out of our hands but the company are pushing hard now to get these done. Previously there was little incentive to get the IWUL overturned as there are on-going costs once this is done.
No just another seller who has put a sale order in .the MM match the price to insure they sell theres
Tightening...More news?
And a sale has been agreed for Mooiplaats
Time to be buying not selling as we become producer. Makhado Water license suspension to be overturned, Vele licenses to be approved and re-start production again.
i agree and see no reason for this to be going any where until 1st qtr 18,,,ive just sold my last holding and lost a sickening amount on this,,, and just think for the past 7 yrs our management have been a joke,,and there intrest is not what it should be given we are a plc,, what on earth are they all doing all day, why as vele not be sold or why have to wait until last minute to inform if its worth doing ?,,moonplus must be a pig of a mine not really been queuing to buy it, and we have 8 billion tons of hcc, at a time when the price is through the roof,and the best they have done is just got in debt more dilution and have brought a company which pays there wages,, and people think these are good haaa,,, in a country such as this it is beyound my thinking how they have not got things done,?,,, all we had to do was put the whole company on care,and,maintenance ,we would have sold both vele and moon, payed of rio, and come back when it was lined up,, a f@cking joke is what this is,, , will trade it when it looks better end of year ,,but we will be pushing 4 billion shares then is my guess
CZA coal Makhado project will only generate reasonable profit after several years, so today news on another coal acquisition is a good news. nevertheless, how much cash can be generate from this project vs cza mcap now? in the short run, i prefer RGM project in US COAL as money already coming in this month and Trump is drumming up support for US coal (plus RGM mcap is very cheap) CZA will be the share of 2018 imho
so with the 10 plus 18 million we are going to loan along with the Uitkomst, buy will increase our share issue 900 million, we needed a asset but one that gives us 2 million a year for 10% of cza plus cash,,, i really dont see how anyone can think this is great management,, but if vele comes on line and moonplus is gone, we should still see 10p plus
ON THE RISER BOARD.....................
14% so far
240 m from idc. towards makhado! fantastic!! ducks in a row.
Wow. That is quite onerous.
Great news thanks
Not bad they bought it one year ago for R150 million.
The Pan African board of directors is pleased to announce that Pan African has concluded an agreement with CoAL, whereby Pan African will dispose of all its shares and loan accounts in its wholly-owned subsidiary, PAR Coal, the holding company of Uitkomst, to CoAL for a total consideration of R275 million (two hundred and seventy five million rand) (the “Purchase Consideration”), (the “Transaction”). Uitkomst is a high-grade thermal coal producer, situated in the Utrecht coalfields in KwaZulu-Natal and the Transaction will result in Pan African disposing of its entire interest, comprising ordinary shares and claims on loan account, in PAR Coal and Uitkomst.
1. Introduction Shareholders are advised that on 4 April 2017 CoAL entered into a sale of shares and claims agreement (“the Agreement”) with Pan African Resources Plc (“Pan African”) to acquire 100% of the shares in and claims against Pan African Resources Coal Holdings Proprietary Limited (“PAR Coal”) for a purchase price of R275 million (US$ 20.5 million) (the “Purchase Price”) (“the Acquisition”). PAR Coal holds a 91% shareholding in Uitkomst Colliery Proprietary Limited (“Uitkomst”) with the remaining 9% held by broad-based trusts (including employees and communities) and a strategic entrepreneur’s trust.