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A shareholder registering potential unacceptable circumstances objection and why the extension was granted at the 11th hour might cause everything to go to review . Shareholders don’t know that the IBC objected to the extension. Write to:
Allan Bulman
Chief Executive, Takeovers Panel Level 16, 530 Collins Street Melbourne VIC 3000
Ph: +61 3 9655 3500 takeovers@takeovers.gov.au
and
Sean Ferguson
Corporate Finance
Markets Group
Australian Securities and Investments Commission
Level 1, 11 Mounts Bay Road, Perth, 6000
sean.ferguson@asic.gov.au
Let's go down fighting
Hi guys,
I heard back from the company, which I e-mailed before the results this week. They covered what was in the release:
1) Vele should be at full production of 160kt of saleable coal per month by April/May
2) Uitkomst continues to supply coal into the marketing agreement with Overlooked, but they are assessing alternative coal marketing opportunities
3) They commenced with early works at Makhado during February and these activities have ramped-up in March. The detailed construction execution plans are progressing and anticipate that these will be completed by the end of Q1 CY2023. This information is required by potential funders and we anticipate concluding the funding arrangements by the end of Q2 CY2023 and are hopeful that construction related activities will commence soon thereafter
4) No justification in the current share price
"I was equally surprised by the sale which appears to have been a desperate/urgent fund raise. We had inquiries from both AIM and our local sponsors yesterday on the same and confirmed that we do not have information any new we have not provided guidance on to the markets. "
Thermal coal prices have softened but goes on to add "The market's perception is still that we are a Thermal Coal producer which will change once we get going with Makhado as the bulk of our production will be hard coking coal currently trading around $380/t."
Looks like a buying opportunity to me. DYOR. Good luck all.
Didn’t think this was too bad looking forward, coal prices on the up, Uitkomst back to steady states and sales expected to normalise. Didn’t sell all we produced but prices are high so sell that next quarter. Operating under covid restrictions. Didn’t expect anything on financing.
M&G on last reported holder update was 20,125,000 so a little lower
Are company updating records pre-announcement?
Noticed a few anti MMSEZ articles around and EIA approval being a fair accompli with Chinese involvement.
Maybe our time is coming