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Whether current shareholders see anything here really depends on the whim of Andy Ruhan.either he lets it go and picks the pieces up for a song or injects some capital.What would you do if it was your call?
another rns and still very dodgy imo very big gamble here but I see plenty love a gamble.
I wish all current shareholders and gamblers goodluck here and I will watch with interest only.
Well for all those who like a massive gamble well here's your share, this is not for me but ABM had plenty of gamblers but unfortunately for them most lost as it is now bust. ABM was easy to predict for me what was going to happen but here it is a bit different and is a bit harder to predict as working out between the mess is very hard to forecast how this is going to pan out,doesn't look good to me but who knows really if they will survive or not.
What a mess.
Well I have looked into this and I will not be buyng, it makes me shudder at even the thought of pressing the buy button here, sorry for those who have lost money here.
It looks very much like SNR are going down the tube. I would imagine the pieces will be picked up by private investors who will do very well out of it, and don't be surprised if they are linked to the Nels!
that have lost their money in this and those who continue to lose their money in this and those who will lose their money in this share. why would anyone be buying this on a day like today?have they researched?
Blimey!!!
Well they have until the end of Mon. to do their half yearly report according to AIM. Maybe they will have more to say by then.......
Keep in mind that Thelo wasn't part of the claims that are to be arbitrated. It is a seperate issue which is probably why the SA courts have attached the Elitheni shares to Thelo.
Will drop some more running up,to May and during hearing and if they lose case then even worse! If looking to make money on here get out and come back in a few months time once all is sorted! What a mess!!!
The ********s also forgot to tell you that the SA courts attached the Elitheni shares to Thelo yesterday. In other words SNR doesn't have control and complete ownership of its asset but that Thelo does.
DoE gets set to launch coal, cogen procurement processes in April Http://www.miningweekly.com/article/doe-gets-set-to-launch-coal-cogen-procurement-processes-in-april-2014-03-25
Trivia....Mozambique approves 600 MW coal fired power station "About 250 MW of the total capacity of 300 MW will feed the largest coal mine in the world that Vale is developing at this site with the remaining 50 MW supplied to EDM, to feed the grid." Http://www.esi-africa.com/mozambique-approves-600-mw-coal-fired-power-station/
Row erupts over ‘blocking’ of power producers bill by Paul Vecchiatto, 17 March 2014, 06:04 Http://www.bdlive.co.za/business/energy/2014/03/17/row-erupts-over-blocking-of-power-producers-bill
"Yesterday Martins denied he caused the bill’s delay. “Anyone who avers or alleges that I stopped the passage of the bill through Parliament is a liar and stranger to the truth,” Martins said through his spokesman Robert Nkuna." Http://www.iol.co.za/business/companies/power-firms-await-end-to-eskom-s-monopoly-1.1661718 Bad timing I say.......
Ouch! "Today, the ANC Chief Whip, Mr Stone Sizani confirmed that the reason the Independent Services and Market Operator (ISMO) Bill has not been considered in Parliament is because the Minister of Energy, Ben Martins, did not want it to be." "In fact, at the recent African Energy Indaba conference the Minister is reported as saying, "Eskom can no longer be a player, referee and linesman in the energy sector and I will be instructing Parliament to fast-track legislation in this regard"." Http://www.politicsweb.co.za/politicsweb/view/politicsweb/en/page71654?oid=566697&sn=Detail&pid=71616
HMMMM.....every little bit would help..... Http://www.fin24.com/Economy/DBSA-EU-launch-R15bn-infrastructure-fund-20140313
I posted this awhile back but doubt if anyone knew what it was talking about....But I bet they will now...... Chris Hani SEZ..... created 10 months ago and presented........Adobe page 3 and 9.....Elitheni and power plant... Http://www.pmg.org.za/files/130521chrishani.pdf also today Http://www.getnews.co.za/story?id=2493 ? "11-03-2014 - In another boost for the Eastern Cape’s drive to become the country’s new energy hub, Energy Minister Ben Martins said yesterday that the province would play a “major and pivotal role” in realising the objectives of the Integrated Resource Plan (IRP). The IRP maps how the generation of energy will be expanded, including the mix, to meet the projected demand." Http://www.getnews.co.za/story?id=2484 Will SNRP/Rapitrade be the ones to let the show down?
Correction!....the amount I show above was doubled!.... R684 million....It doesn't state what will be allocated where in the whole of the budget (?) (They were talking about their first year budget above...2014?)....... If we put aside the same % for grants as the first one (2014?) that would make it @ R232 million = @ £12.88 million in total.
Please follow carefully.... October 7, 2013 "There does, however, appear to be some cause for concern about the future of Strategic Natural Resources (SNR), which owns 74% of Elitheni, and one wonders whether there is not an opportunity for the Industrial Development Corporation (IDC) to consider becoming the strategic investment partner that SNR is seeking or for the Eastern Cape Development Corporation to consider what assistance it might be able to offer." Http://www.dispatch.co.za/opinion/future-of-elitheni-port-depends-on-snr-success/ MAR 07, 2014 Eastern Cape allocated R684m in development finance "Reacting to the 2014/15 Eastern Cape Budget Speech presentation, Mase said in a statement that, in the first year of the MTEF alone, the ECDC was allocated R336-million, of which R221-million would be funnelled into its social infrastructure programme, while the remaining R115-million would be set aside for yearly grant funding. “From an ECDC perspective, this has been a smart and integrated budget that prioritises a balanced and diversified economy, which encourages linkages between the primary production and manufacturing sectors. “It, therefore, demands the effective and efficient coordination of public efforts between State entities for improved economic growth, development and job creation,” he noted. The corporation also viewed the allocation of the provincial budget as a sign of “its effective stewardship of public funds and assets as well as [the] turnaround of the institution”. Http://www.engineeringnews.co.za/article/eastern-cape-allocated-r684m-in-development-finance-2014-03-07/rep_id:3182 That's £6.388 million. Is it possible that some of that new budget could be coming towards Elitheni?
I smell poop...... MAR 07, 2014 Eskom to procure ‘at risk’ short-term IPP power while longer-term deal is debated "LONGER-TERM FRAMEWORK But Eskom also stressed that a longer-term framework was required to enable it to enter into IPP contracts beyond May and confirmed that discussions were under way with government to secure such an arrangement. Public Enterprises Minister Malusi Gigaba revealed recently that these discussions were under way between the Department of Public Enterprises, the DoE, the National Treasury and Eskom to secure the resources to resume purchases and to pursue yet additional supply-side opportunities. Energy Minister Dikobe Ben Martins said in early February that the DoE also planned to initiate the long-awaited procurement processes for new baseload and cogeneration IPP projects by the end of March. The bidding processes would be pursued in line with the determinations issued on December 19, 2012. Under the baseload determination, 2 500 MW had been allocated for coal-fired IPP projects, 2 652 MW for baseload or mid-merit natural gas capacity and 2 609 MW for domestic and imported hydro-electricity prospects. In addition, the DoE planned to procure 474 MW from near-term natural gas projects as outlined under the Medium-Term Risk Mitigation Plan, which also included a further 800 MW allocation for cogeneration capacity arising from biomass, industrial waste and combined heat and power sources. However, many in the private sector argue that, in the absence of an independent system and market operator, or ISMO, the full potential of IPPs will not be felt. Serious questions have, therefore, been raised about the stalling of the progress of the ISMO Bill in Parliament, with Business Unity South Africa arguing that the legislation was urgently required to create a more competitive environment for energy supply and to provide greater energy security in future. But Eskom chairperson Zola Tsotsi argued that the Bill was “not compatible” with what existed in the South African context. “The Bill is meant to deal with a market mechanism, and if you look at the capability of the IPPs versus Eskom as a supplier there is no condition for a market mechanism to exist,” Tsotsi said, while calling for market participants to “be practical”. He also stressed that the Bill would have a material impact on Eskom’s balance sheet, which was currently already reliant on government guarantees to enable it to raise the debt required to fund its build programme. But Dames added that Eskom had done everything requested of it to prepare for the legislation and that he “would also like to know where's the Bill”." Http://www.engineeringnews.co.za/article/eskom-to-procure-at-risk-short-term-ipp-power-while-longer-term-deal-is-debated-2014-03-07/rep_id:3182
Carry on SA....But for who? R273.3 million allocated for road linking Elitheni with Indwe 07-03-2014 Http://www.getnews.co.za/story?id=2480
OKay......who broke into PE and stole that laptop?