Member Info for Bozmo

I asked Brenda what was going on. She said wasn’t looking for a job and headhunted with an offer she couldn’t refuse. Also said candidates are well advanced and expected a smooth transition.

"and her departure in February is not expected to impacton finalising the Phase 1 funding package."

maybe wanted job full time and they didn't offer it?

Coking coal prices in China at 4-year highs, thermal coal in China at all-time highs

European coal driving higher as well, driven by:

was sent this earlier in the week 10 Factors that are driving the move:-

1) major Colombian mines remain offline, with only serving outlet fully sold out and experiencing production diffculties due to heavy rains
2)News overnight that a flooding accident in Hunan has shuttered a mine there
3) China releasing additional 25mmt import quotas to satisfy the coal shortage this winter
4) Newcastle port Australia has a ship loader outtage from a very bad recent storm that will last several months
5) heavy rains recently disrupted rail link to Russia;s east coast
6) India has seen very strong coal demand, as well as some strike action by the major domestic producer
7) Vietnam and Pakistan continue to show strong demand
8) More atlantic tonnage (incl SA) flowing East into China as they try to source alternative tons in the absence of Australian due to the specific origin ban
9) result is a very tight physical situation, and see Russian flows go to placed rarely seen before
10) CTAs buying aggressively to cover shorts

M&G down to 13.03%. - another release on ASX

Jantand. Sounded like something was close at the AGM, but couldn’t say. They were still hoping to start building in January, but we’re all been here long enough. I’m encouraged by Coal prices and Uitkomst at steady state again.

Also was told by another investor, we are in close contract with Power China, who are keen to get going with SEZ once the EA process is complete and they would source coal from Makhado/Vele. At AGM they highlighted this was ahead of schedule. Personally think we get bought out way before then. Anyway, they need to sort this financing out first, but as you know, potential huge blue sky here.

Crazy day in gas, oil, coal, power markets

Keep an eye on this. Q1 futures now trading over $70.50. Pretty much around pre-covid levels

Hemms, in the past at AGM I’ve always had the opportunity to have a quiet word with Bernie Pryor, David Brown etc and get the full scoop. This time Brenda gave an update on financing which was limited due to confidentiality. They are hoping to start building in January but with Christmas etc might be delay. They still have a number of options. Once financing is approved then no hold ups, everything in place regarding approvals.

There was a couple of other investors there, then Bernie/Brenda/Sam R, auditor etc

Brenda seeing PIC this week, not sure if that’s a general catch up or financing related. They’re still behind project etc. Answered other questions, sounds like MM SEZ a go-er with environmental approval well ahead of schedule.

Still positive. DYOR

Disappointing was virtual AGM.

They hope to commence building at start of Jan but might struggle with that timeline because of Christmas. Not talk about financing because of confidentiality but more than one possibility.

Seeing PIC next week.

....or just some choice words!

Friday 20th. Shame it has to be a virtual AGM but might get some further info on funding

Try this link, coal prices almost back at March levels:
https://www.barchart.com/futures/quotes/IFFF21/overview

We’ve had a decent move in coal prices:

https://www.barchart.com/futures/quotes/LVF21/overvi

Still need news....

Hey 13Seedz, I spoke with mcm about why company would be selling as this was holding London line back against JSE. And M&G had supported us before. As far as they were concerned they had a small amount to sell to get under this 15% threshold. I did look at home tonight on M&G website but not find anything, but tonnes of legal docs to go through.

Did some digging today on M&G. The company has a new policy where they can only invest 15% in an AIM stock, which is why they were selling. So nothing sinister behind it.

actually looks like their volume is going through Peel Hunt, who crossed up another 625k on Friday and 222k today so guess still active.

anyone have any contact with them?

i've had the chance to look at some numbers. M&G bust the 15% threshold on 16-October but they chose not to notify holdings until 4th Nov. Why report it now and not on original date? Hoping that means they're done selling. Although the 2x50k done at 8 potentially makes me think otherwise.

if anyone cares...

Date Sold Holding as %
05-Nov 97810 21741399 14.08%
04-Nov 131975 21839209 14.14%
04-Nov 125000 21971184 14.23%
03-Nov 475000 22096184 14.31%
03-Nov 301816 22571184 14.62%
02-Nov 60000 22873000 14.81%
02-Nov 50000 22933000 14.85%
30-Oct 67000 22983000 14.88%
29-Oct 33996 23050000 14.93%
27-Oct 25000 23083996 14.95%
19-Oct 14768 23108996 14.97%
16-Oct 55000 23123764 14.97%
29-Sep 7000 23178764 15.01%
28-Sep 64549 23185764 15.01%
14-Sep 5000 23250313 15.06%
10-Sep 15804 23255313 15.06%
09-Sep 75230 23271117 15.07%
start 23346347 15.12%

They've also been the main seller in London, about 56% of volume last week

Change in substantial holding released in ASX. M&G the seller, kind of explains why London lagging.

Interesting Hemmings, current state of play:

London 7/9

Australia last trade 12.74, market closed at 11.07/11.62p
JSE last trade 11.68, market now 11.96/14p