Member Info for Gubby

An old fashioned insomniac?

Hi tedmak,

I didn't say that TGA "can't" be bought.

I just don't see it within the next 3-4 years.

Hi tedmak,

No one can predict the future, but I still heavily doubt that any other company will be buying TGA for the foreseeable....

From our very first RNS on June 7th.
"Thungela's operations provide a wide range of economic and social benefits for their host communities and for South Africa, such as employment, tax revenues, export earnings, and many essential community services."

If TGA had been up for a sale, surely it would have been open for offers before Anglo started pumping money in to it.
Also why would the 2 x 5% have been set in place for the future of the community?
And taxes....if an outside entity bought TGA would everything stay in place as it is, would the same amount of taxes be received? Recently we've been hearing of SA's step towards renewables to fulfil obligations to take to COP26 in Nov, the government need taxes to pay for it. A few weeks ago, maybe a month I read something about the government relying even more heavily on the tax provided by the inflated commodities prices.

I don't believe the "Golden Goose" would be allowed to waddle off, through the door to Beijing....

I bought more Friday.....twice

Hi Dabbler1 and tedmak,

It could be that some outside entity arrives with cash dripping out of every orifice,.... but the offer would have to be ridiculous, and please don't think that I'm backing up any thoughts on a possible takeover...Thungela is still finding it's feet and it's level and I firmly believe that that level will be a fair bit higher than where we are today.

It's great fun.

https://www.carbonbrief.org/mapped-worlds-coal-power-plants

https://www.maritime-executive.com/editorials/china-s-ban-on-australian-coal-reshapes-key-dry-bulk-market

https://www.miningweekly.com/article/weekly-sa-coal-report-2021-09-13/searchString:weekly+coal+report

Also tedmak,

From your own post...

"linked to index prices....", so not static?

oops...

well I think I was saying...

We don't actually know the average for Q3.. because we're still in it.....

tedmak,

We don't know the actual equation for the offtake agreement. Deon Smith stated about $1 p/t when at the time in the May 6th presentation:

"Whilst we haven’t disclosed the percentage of the so-called marketing fee, at spot today it’s around $1 a ton so you can calculate broadly what that is, which we believe is absolutely arm’s length in market related terms."

Discount I think was 23% on average for H1. We are going for less. 20%, and I hope even less. ( a boost to recent discount has been the closure of less economical pits)

If anybody would like to know if and/or when there will be a quarterly update , I would suggest contacting the very efficient staff at Thungela. I would love to blab it, even though it's out there already, it certainly isn't market sensitive-ask Ryan Africa.

TGA. All The Way!

Hi LL,

We had a clean slate at the beginning of our ride.

We don't know the av

https://www.miningweekly.com/article/asias-coal-prices-hit-new-highs-as-global-utilities-scramble-for-fuel-2021-09-07

.....but at least it's something to read.

Hi LL,

I have resigned myself to not knowing the exact and up to date price, but if you read around you'll get a good idea.

Plus we will never know on any certain day exactly "how much" we load on to ships at RBCT, at any particular price and also "exactly" how much it costs us on that particular day. Don't forget we went from 26% to 23% and hopefully to less than 20% against benchmark.

So I would say if you want the most up to date information, which may take a subscription, then pay for it.
But then don't, I don't, I'm tight as a gnatt's chuff, but if RVO and other posters have been gracious enough to let us be party to information which they actually paid for....then accept it or not. I personally stick to what I can verify from more than one source....., but what has been posted seems to stand in line with the free stuff i've posted i.e. World Bank monthly and Mining Weekly which are there for all to see.

https://www.miningweekly.com/article/weekly-south-african-coal-report-2021-09-06/rep_id:3650

the Alu one :-)

Nice find LL,

I posted it to my WhatsApp group and also my own reasons for investing.

It' s only a group of six with me. They have all invested in shares in the past, so not beginners in The Game.

Two have already taken positions with a third on the horizon, one of the group is a sibling.

GL

Actually, what's going on?

The world bank average at $137.90 for August.

The Mining Weekly figures are higher. They suggest w/e August 6th was the lowest weekly price at $137.50, then it's been $138.50, $139.00 and $140.00

Was it all delivered at the beginning of the month.... :-)

https://thedocs.worldbank.org/en/doc/5d903e848db1d1b83e0ec8f744e55570-0350012021/related/CMO-Pink-Sheet-September-2021.pdf

$137.90......yum, yum, yum, yum,...... :-)

https://thungela.s3.eu-west-1.amazonaws.com/downloads/investors/Thungela-Combined-Pre-Listing-Statement-and-Prospectus.pdf

5. THE ROYALTY ACT
The Royalty Act imposes a royalty on mining companies on the transfer of mineral resources extracted in South Africa. Any holder of an exploration,
prospecting or mining right (or a lease or sublease in respect of such a right) or any other person who has recovered a mineral resource in South
Africa is subject to a levy in terms of the Royalty Act.
Royalties imposed differ between refined and unrefined mineral resources but in both instances are based on a percentage of gross sales, derived
from a pre-determined formula measuring the ratio of EBIT and the product of gross sales realised multiplied by a pre-determined number. EBIT
and gross sales are specifically defined in the Royalty Act. In particular, EBIT refers to taxable mining income (with certain exceptions, such as
no deduction for interest payable and foreign exchange losses) before assessed losses, but after capital expenditure. Refined minerals attract a
maximum royalty limit of 5% of the gross sales and a minimum of 0.5% of gross sales if the EBIT is negative. Unrefined minerals attract a maximum
royalty limit of 7% of the gross sales and a minimum royalty limit of 0.5% of gross sales if the EBIT is negative.
The royalty percentage for the transfer of unrefined mineral resources is calculated by dividing EBIT by the product of nine times gross sales of
unrefined mineral resources calculated as a percentage, plus an additional 0.5%.
The Royalty Act allows a mining right holder to agree with the Finance Minister that any amendment to the determination of the royalty percentage
formulae will have no effect on the formulae applied by the mining right holder prior to this amendment in respect of all mining operations carried out
for the resource for as long as the holder holds the right. The holder may withdraw from such agreement at any time.

Hi tedmak,

Last attempt.....the PLS Page 81....The Royalty Act...?