The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
nothing new but nice to see:
https://www.businessfocusmagazine.com/2021/01/20/mc-mining-the-makhado-opportunity/
I’ve had various meetings with DB and BB over the years. They have been genuinely excited about our prospects especially when we acquired the remaining farms. And yet nothing further. We’re still where we were, the ‘bread and butter’ funding to get this over the line has not (yet) materialised, PIC’s ultimatum to get this done by May 2020 hasn’t come to fruition. I thought I had a decent handle on what going, and I still believe it will happen, my average is better than before, but have way way too much invested here.
The Uitkomst numbers will be good for the last quarter. That piece of MCM should be worth more than our current market cap. Coal prices, Chinese demand are ticking all the boxes. But that doesn’t really matter tho unless we get Makhado financed, or someone to sale the ship. Clock is ticking on both.GLA
https://www.ft.com/content/ceffdada-e4bb-4ef1-99cc-c9713d729de9
Had to google them
PPC is Africa's biggest cement maker. PPC Lime is the leading supplier of metallurgical-grade lime, burnt dolomite, limestone and related products in southern Africa. It operates one of the largest lime plants in the world at Lime Acres in the Northern Cape, South Africa.
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
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.
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.