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Coal of Africa boosted by speedy subscription process

Wed, 09th Jan 2013 14:00

South African mining company Coal of Africa saw its shares rise after a wholly-owned subsidiary of Beijing Haohua Energy told the miner that it has received the requisite approvals ahead of schedule from the relevant Chinese authorities giving the go-ahead for the subscription for 100m dollars worth of Coal of Africa shares.The shares are being subscribed for at a price of 25p a share, as per the agreement. The approval is valid for two years. Coal of Africa Chairman David Brown said: "I am pleased that the remaining approvals required by [the subsidiary] HEI to complete the transaction have been received ahead of the shareholder meeting on January 25th. Upon the conclusion of this transaction, Coal of Africa will be well placed to execute its vision for the future development of the company."Under the subscription agreement, the initial placement of $20m has been received by the company, while the conditional placement of $80m remains subject to shareholder approval. The share price rose 5.19% to 20.25p by 14:15 on Wednesday.NR
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17 Feb 2017 15:35

Coal of Africa clears loan with equity conversion

(ShareCast News) - Coal of Africa announced on Friday that it received notice from Yishun Brightrise Investment requesting the conversion of a $10m loan to CoAL's ordinary share capital. The AIM-traded firm had entered into a loan agreement with YBI during September 2015, pursuant to which YBI advan

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2 Nov 2016 11:06

South Africa dismisses appeal against Coal of Africa's environment amendment

(ShareCast News) - AIM-listed miner Coal of Africa has announced that the South African government has dismissed an appeal against the environmental authorisation amendment for its Makhado mine in the Limpopo Province. Edna Molewa, the minister of the Department of Environmental Affairs, dismissed t

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28 Oct 2016 14:23

Coal of Africa still looking for cash-generating asset

(ShareCast News) - South-Africa focused Coal of Africa updated the market on the quarter ended 30 September on Friday. The AIM-traded company said there were no lost-time injuries recorded during the quarter, continuing on the perfect record seen in the fourth quarter of the 2016 financial year. It

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29 Jul 2016 10:07

Coal Of Africa Expects Makhado Project Construction To Start In 2017

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15 Jul 2016 12:26

Coal Of Africa Offer For Universal Coal Lapses, Deal Breaks Down

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4 May 2016 09:55

Coal Of Africa Shares Jump 48% As Its Reaches Agreement On Chapudi

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29 Apr 2016 10:36

Coal Of Africa Progresses Universal Coal Deal, Hengshun Investment

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11 Apr 2016 11:56

Coal Of Africa Replaces Subscription Agreement For USD15 Million Loan (ALLISS)

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8 Apr 2016 11:46

Coal of Africa water use licence suspended at Makhado

(ShareCast News) - Coal of Africa had its Integrated Water Use Licence on the Makhado Project suspended on Friday, following an appeal to the South African Department of Water and Sanitation, submitted by the Vhembe Mineral Resources Forum and other parties. The appeal automatically suspended the li

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8 Apr 2016 08:50

UPDATE: Coal Of Africa Water Licence Suspended, Takeover Deal Advances

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8 Apr 2016 07:17

Coal Of Africa Shares Fall As Makhado Water Use Licence Is Suspended

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14 Mar 2016 07:33

Coal Of Africa First Half Loss Widens On Foreign Exchange Loss

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11 Mar 2016 15:46

Coal of Africa bid for Universal progressing, board says

(ShareCast News) - Coal of Africa's bid for Universal Coal was progressing satisfactorily, its board said on Friday, with the company sticking to its planned timetable for the offer. The AIM-traded firm said it had received the written consent of Investec Bank to the implementation of the offer, sat

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8 Mar 2016 10:42

Coal Of Africa To Dispute Claims It Has Breached Obligations

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25 Feb 2016 16:25

AGM, EGM Calendar - Week Ahead

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