Member Info for Hemmings8

There was 91,588 on offer. According to holdings report that’s what one individual (Linda Reddy) holds. Maybe just one individual not big boys

Coal prices update: https://www.barchart.com/futures/quotes/LVK18

If due diligence is indeed ongoing here, at least the rand weakening and coal prices higher should improve valuations and project’s IRR. Lots bubbling away. We were expecting GSP mining rights by end-April so lots bubbling away just need to get boxes ticked now

I’m hearing we’ve nearly finished taking over the mining contractor whose equipment unavailability led to reduced output at Uitkomst last quarter. Positive.

Coal prices in Zar even sexier with recent move. Come on, let’s announce sale of Vele

Strange nothing trades yet on JSE. Buying raising his bid all day and not been hit. Market now 500/528

So any of following would help: Land Access Off-take agreement Vele sale GSP mining rights Director dealing Positive Uitkomst update following bad quarter. Financing agreement (September)

Sellers in small size, when we get positive news then small amount of buying get it back there quickly. This will come good.

When you look at who bought and sold for April, there’s no big seller. And those who have sold don’t have much more to sell

On the JSE chart. Generally means exhaustion of downward trend. A bit more buying around today.

Yes, shortage of Coal in SA. It’s a gift for someone. Exxaro trying to diversify out of coal but are selling stake in Tronox ($475m).

At least the land access claim is being conducted by the government so it’s not costing us thousands in legal fees.

Hopefully will have a better idea of selling when company gets holding report for end of April, which is then updated on Bloomberg. Spoke with company previously and clear none of 10 largest holders were selling. Volumes not been huge, and we’re still awaiting for news ( land access, offtake, financing, Vele, GSP mining rights etc)

Selling was probably someone aware of Issues last quarter.

Potential buyer for Vele also carrying out due diligence

We’re producing. ROM was lower last quarter as we know and explanation was given in quarterly report (copied below)due to independent contractor. So way we’re going to sort it out it seems would be to take over contractor

“The underground operations at Uitkomst have historically been undertaken by an independent contract miner. The contract miner experienced equipment availability challenges during the Quarter resulting in reduced ROM production and, as a result, the Company is in discussions with the mining contractor to resolve these issues.” Spoke with company, it sounds as if the only sensible option is for them to take over all the mining equipment and mine personnel and run it themselves.

Reported as a sell.

Coal jumps higher Usd/zar 12.60 (+1.3%) Both help valuation

“workers day” hols in SA on May 1st