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Ncondezi Energy, also based in Tete, Mozambique, announced last week a MOU with a Chinese Power company. It turned out that due diligence has been going on with them, and others, for ten months, the shareholders only found out last week.
I`m not in it for the cigar. Your research is priceless so it seems so go do some. I dont need to explaing anything to the LSE ramperpoof
Don`t forget to ramp-down 3% today!
Someone else knows you! Ha Ha I`ll be back, this is good sport
JibboCnr, I suggest you read the last couple of RNS and dig into those "weasel worded" comments. It's all there if you open the window. LoSA Not in a rush to add BAO. More View thread 4 Mon 22:58 Re: Enterprise valuation/tonne JibboCnr Some truth in that but AIM is all about news flow. There is loads of news due in the next few months leading up to the DFS and the de-risking of the project. Assuming the news is positive the sp will rise significantly in my opinion. I will be surprised if we are not north of 20p by the end of the year.
Talk me through the repeat posts, looks like I touched a neve there! As for COOL I sold at a profit. I am also in profit in BMR (JUST) and GCM but dont go on about it constantly. And I am not deramping, I dont need to.
I do not need luck at all. I think people here will soon see you for what you are. Is the T20 due?
Wow Some actual "research" You have no idea whether I have bought sold or whatever at a profit or loss, you can only guess. I do ok out of it and I have never sold BAO at a loss or even in the range you quote as I had no intention of buying on a spike. More repeat performances will come, I am sure, that you draw the mugs in and sell out before admitting so. You must have a sad life!
15,164 REPETITIVE POSTS. Ask him about the election and how it may affect BAO?
I do not have any shares here at all, I just enjoy looking at your desperate attempts to ramp up stocks with your constant repeat posts of the same article If I buy, it will be for the long run, now run along.
I see Jibbo is back to his repetitive posting, same article was published only last Sunday and will more than likely be posted again this afternoon. Must have bought in again. Mozambique elections in October, nothing is happening until after that.
Yes, they had a lot of heavy covertible notes that needed to be paid for, They have had a rights issue to pay for that and are in the process of teaming up with a partner to start up the De Wittekrans mine and renegiate contracts with Transnet and others, I only thought the other day that they said their re-listing was scheduled for the middle of June, thats what made me think of a possible link.
COOL is still suspended, they were due to relist around middle of June. They were in a similar situation to SNRP and were in the process of being refinanced. Does any one see a possible merger of both companies?
So no back up to your rumour Sharendipity? Looks like refinancing and dilution up and coming. They keep saying that they have people interested in SA but I dont trust this management at all. Would VMR want their investment to tank or will they take over the Loan notes? Too many big shareholders involved here for it to go belly up.
Have you got a link or is this pure fantasy?
The company has incurred a lot of debt which is due to be paid back. It is a substantial amount of debt compared to our Market cap and they are having to restructure the convertible loan notes which will probably result in more shares being issued. Having said that, the company is making money from sales and has projects coming on stream which will deliver bigger profits. The management have some notoriety attached, Peter Landau and Jason Brewer, who have less to do with the company now but are detested throughout Australia. Getting the new finance on board before the end of the month and the JSE listing will improve things but announcing a JV partner with some Kudos will be even better.
Magnum, I believe Don Turvey has been selling his 1m shares that he was obliged to, hence the fall. I know its difficult looking at a 10% fall every day on minimum selling but I am of the opinion that we are being kept low so that the JSE float gets off to a good start and South African Institutions make a killing by getting in at the bottom. News will be released spontaneously after that, the JV finalization on Botswana (maybe an Indian company named), the sale of a non-core asset and they have mentioned that they anticipate the finalization of De Witts in the 1st quarter next year. Its a ase of not looking at the share price too often. I did send Turvey a snotty email this morning though.
CONTINENTAL Coal, a 2.2 million tonne/year (mtpa) thermal coal producer operating in South Africa's Mpumalanga province, said it hoped to debut on the country's stock exchange in "early November", and added it would look to raise funds with local investors "at the appropriate time". Don Turvey, CEO of ContiCoal, said the listing was partly to accommodate the 19.9% stake taken in the company by Village Main Reef (VMR) so that the investment house could hold its shares in South Africa. However, Turvey said ContiCoal would be interested in boosting liquidity in the stock. The company is currently valued at A$21.2m on the Sydney Stock Exchange where it has a primary listing, about $200m. First, however, the company is required to restructure some US$15m in convertible debentures before any other capital exercise, said Turvey. This could involve getting shareholders to agree to an extension in the maturity date of the bonds which are due to expire in February, 2014. The company expects to finalise this by the end of this month, Turvey said. As with many junior mining companies, the last 12 to 18 months have been a question of taking stock, re-financing the balance sheet as commodity prices decline and access to finance becomes tighter. In the case of ContiCoal, it is selling off non-core assets, stripping out corporate costs where possible - including a reduction in director fees - and refinancing exists debt. Total borrowings were at $82m at the company's year end on June 30. ContiCoal has cash flow which it generates through two mines - Vlakvarkfontein and Ferreira, with a third - Penumbra - in the process of building up. Ferreira is due to be exhausted later this year but production will be more than made up from Penumbra. As a result, production for this year is likely to come in about 2mt or slightly more again this year, but the company-maker is De Wittekrans, a proposed 1.6mpta mine with a significant export portion but requiring some $120m in capital. ContiCoal has recently rescoped De Wittekrans reducing the capital requirement from some $200m in rounded-up numbers. Turvey believes getting De Wittekrans right will see the company's share rerate. He estimated that ContiCoal was already trading at a 30% discount to its net asset value, but with a properly pumping De Wittekrans, the company's NPV would rise to R3.5bn from the current R650m.Bookmark and Share
Did anyone listen to the confeence call the other day? Some good info in there, they look like they will do De Wittekrands themselves without the partner. Convertible notes and other debts should be renegotiated by the end of this month and the JSE listing will follow in early November. VMR are expected to buy in at this time. Should see some interest building.
Good Buying! Seems to be starting to build slowly now. Looking forward to the JSE listing, that should spark a bit of interest.