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I think we need the licence first and then the updated optimisation study on DW which is due in the fourth quarter. The savings made will probably tempt someone out of the woodwork.
Thats what gets my back up also. We have waited for nearly a year on all these developments to come to fruition. Unless they are waiting for the JSE listing and then release news all at once.
CP01. News is being prepared as we speak, we may hear something this week. I know the JSE listing is scheduled for the last two weeks in October. They are hoping to get the De Witts licence before end of September. That then opens the way up for De Witts to go ahead. I don`t think we are being lined up for a takeover but I have heard that the debt pile is to be renegotiated. Penumbra should hit capacity this month and sales are rising. Other initiatives are being dealt with. I suspect we may see 6p soon on the run up to October end. Year end figures are also due. Lots to come over the coming 6 weeks.
I believe some news is due soon. Bid ticked up today
Got a reply to an email sent last Friday. This quarter should see quite a few developments, we are waiting for the two licences to come through for De Witts which will de-risk the project and help finalize the JV. Want to settle deals and other initiatives in order to move forward. Coal prices expected to rise strongly towards the end of the year and want Cool to be in a position to take advantage. Will be pleased to see VMR take up their remaining allocation, but at the moment we cannot rush things.
We are still waiting for confirmation of the above in the second half of this year for De Witts. This is why I think no deals have been sorted yet for De Witts. If JB bought some shares the other day, are we effetively in a closed period? Next news will be the quarterly update due in August.
Maybe this could be a strategic move in our favour. If we get a deal(s) sorted this quarter and VMR buy up to their proposed limit then it may be that after listing on JSE that we get further institutional investment which drives the share pice into positive territory for VMR along with improving conditions for us anyway. I got a bit annoyed with JB earlier this week as I nearly fell into the Hotcopper pot of accusing him of failing with the deals which are in the offing and have not yet materialised. I got the impression that things were going to be delayed due to the bidders now changing their attitude and playing hard to get. But he blamed the state of the market and after todays news, it could be down to timing.
Is this a back up plan just in case the deals dont go through or is it in anticipation of bigger things? We should be cash flow positive now. Email from the company this week suggested the deals were hard to close due to the state of the markets! If we had in excess of 5 bidders for De Witts, i would have thought competition would have been stiff. Need the Chinese to pop their heads over the parapet to get the Indians moving.
This will be due in early August-four weeks
Cracking article, well found Gregoir. Welcome to the board. Hopefully we may have some news this week.
Trime, I meant the link for ADVFN, I wanted to seethe posts that suggested news next week. I believe JB is back in SA now.
Can you post a link to ADVFN please?
Many Thanks for the emails. Can you post the "news next week" email from ADVFN as I would not know how to find it. If we go back 5 or 6 pages on here and read the report on COOL it quite clearly says that we are over the worst. I think we have had a few small sells and the price is punished, it will be interesting to see when VMR start to buy how much we rise by, aided by others buying in. If we sign a deal with NTPC or Coal of India for De Witts, then some sense of normality will return. Do`nt forget our partner wants all the coal so the mine is spoken for. Its depressing to see the price come off but I think we will be above 6p in the coming weeks.
Hi trrime. The same thing happened to me last week. I have always had prompt responses in the past but last week I had to send three emails which JB answered all at once several days later. No news really, I asked what criteria they used when choosing a partner, its surely cant be down to money, he said that they were looking for well credentialled candidates. According to Hunter Hillcoat (guffaw, guffaw, old boy) a JV is expected first possibly this month. Then the biggie is the JV on De Witts. That will be the game changer here, plus a bonus from the sale of Non-Assets. Like you say, I dont think VMR can buy at the moment, they must be effectively involved in negotiations or have some idea of the proceedings, so this would be tantamount to Insider knowledge. I fancy a small top up tomorrow at these prices.
Yes, I think we will soon start to see an uplift here. We are close to some news according to the company, which replied to my email earlier. "We have several suitors for DW but would like a to do a deal with a more prominent player" We need some credibility and I think if someone wants to join us in taking on a 30 year project, they need to be good. I don`t think that VMR have even started buyinig yet. Hopefully we will hear news ASAP.
I wonder if we will see the reciprocal rise if/when VMR start to buy. I don`t think they have bought any yet have they? They must be confident of getting their average down! News must be close if they have not bought
CeePee, Do you think we will get news this month? I did read that they are targetting a deal on Botswana and there is a chance of a deal on DW by the end of June. Have you heard anything else?
2Yes. And just arrived in SA now. Not sure what you're on about a 46m share overhang - please explain! Yep want to get things moving back up as well and hope the news to follow will allow that" Perhaps that is a hint that news is due if he has arrived in SA.
So Trrime, did we find out anything about the non-core asset sales or progress on DeWitts?
I have been told in not so many words that there are more than five bidders interested in DW and the process is "highly competitive" No deal will be signed until the two permits have been granted for DW. The value of the non-core assets will improve when their two permits come through. (Leiden and Vaalbank)