Member Info for Hemmings8

Think the worm has turned. Potentially more news coming, land access in sight. Coal prices flying. A nice positive update about taking over contractor at Uitkomst, GSP mining rights, off take agreement, BEE/IDC financing and could be a good summer!

Paid $21m for Uitkomst, which is looking great after this quarter now through the dyke and contractor issues sorted Land access for Makhado will start to price project with NPV of $200m. Off take almost completed last time I spoke with company GSP. We paid $75m, coal prices now higher and SEZ will help. We were expecting mining rights to be granted by April. Remember this is 3 times bigger than Makhado. We are reliant on 3rd parties. Land access, regulatory approvals, hardly surprising board/shareholders are frustrated! At this share price it’s testing everyone

Back of fag packet calculations Current market cap $43m We have $10m cash, and npv of Mooiplaats monies owed is $7m If we sell Vele for $25-30 as could happen, in essence leaves us in a position where Makhado, Uitkomst and GSP are valued at zero With coal at 1400 Rand this makes no sense

It’s nonsense really. No volume and going lower when making operating profit the last 2 quarters. Still in a position when everything could change of one RNS. Whether that be sale of Vele, sell of surface rights, acquisition of 2nd cga, land access, completion of offtake at Makhado. Also Might get a boost from IDC funding, bee funding etc etc Remember, Makhado is a quick 12m build and cash generative very quickly. Big holders aren’t buying or selling. So much potential here.

I’m guessing nothing today. Lots going on though- hopefully some positive news soon. Remember short build time and cash generative once up and running. Nice place to buy if a believer.....

Low volumes. Lack of buyers. Need news. Nothing’s changed, coal in Rand still going up. Will correct quickly on good news

Finished higher on day. fancy that :-)

And yet, coal prices keep going higher.

Spread a joke on JSE. 356/410. Need some positive news

Reading tokols posts, he’s generally negative on company

Tokols, can you post his reply? What exactly did he say

20k went through btw 29,9-30p, market then 25-28p and someone then sold 85k at 22.5 before buying came at 26.9 and lifted back up.

Bought some at 26.9 today - reported as a sale Moved lower on nothing. Large trade reported at 22.5p. Assume that’s what market makers were gunning for. 13k took market down. JSE better to buy. Go figure.

Operating profit has been positive last 2 quarters. Took an impairment charge on Vele so can flog it for $25-30m when board approve of sale in early June. DD ongoing, and if sale goes ahead then will be cash positive. If you think Vele worth above, Uitkomst worth $20+, GSP we paid $75m for something 3 times bigger then Makado which itself has NPV of $125m (peel Hunt) then realise how undervalued this company is. We still have $6m Mooiplaats monies to come in.

250k on JSE, that’s 5m in old money

True but we’re producing, and definitely helps Vele valuation which we can hopefully sell. Hopefully start ticking boxes soon. Board meeting in June so might get some clarity on some matters then

Coal in Rand getting towards 2017 highs. Very interesting now

Never look a gift horse in the mouth

Thanks. Unfortunately seems to be a buyers strike. No volume. And unfortunately need to wait for RNS/SENS to confirm. Waiting game.

Bloomberg lists all shareholders on JSE Can access through http://www.timbukone.com/ But with both granularity depends on how much you pay. The ones highlighted as selling over last couple of months don’t have much to sell. None of the larger holders have been selling.