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Yes, my last convo with company was 24-May: “On the funding and marketing we are progressing and will look to complete the final HCC marketing agreement by middle of June and likewise the debt by the end of June.” Guess timelines change when relying on others but should have news shortly
Should get some decent news flow in next few weeks, marketing agreements and debt funding. Mantashe making positive sounds about coal, weak gdp number sending rand to 14.93 currently. Outlook for hard coking coal still positive, currently $199/t Good luck all here
Another convo with CEO: HCC prices very firm and outlook very positive; Everything still on track, marketing agreement (mid June), debt funding (end June), equity raise (July), cash from equity raise receive in August and commence build. Bemoaned short term nature of investors, nobody has patience these days. Undervalued.
Company will have finance in place before end of their financial year, ie June. Once debt financing deal sheets done then they will announce to market. Equity financing after that before construction starts in Q3. Timelines still as previously stated. I think we’re in great shape here with thermal coal picking up, Ramaphosa given clear mandate and company ticking all the right boxes. A waiting game now.
Sounds like Makhado coming along well. Waiting on funding. Remaining GSP Mining rights in near future Uitkomst seems to be stabilising and another product being sold given changes. Slightly disappointing coal prices lower but that’s beyond our control. Bodes well for next Quarter