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It does raise the point, why should the minority sell their shares at the price is not far off it's all time low. Whilst I agree with the exercise in practice from an investor's point of view, minority holders aren't going to make or break this company, they might have more takers if they bumped the price up and make their deicsion easier. From an investors point of view, it would be good to get rid of minority shareholders and replace them with Village Main as that will bring more stability to the share price and underpin it significantly. It goes without saying that VM are getting in at these price levels on the basis that their shareholder value will increase significantly over time. I am surprised that minority holders have as much as 20%. That is quite a high figure imo. Personally, I would be glad to see that percentage greatly reduce to make the share price more stable.
http://www.miningmx.com/page/news/energy/1550895-Village-to-pump-R76m-into-Continental-Coal#.UUbSzBlhO1s "Export sales from Penumbra increased to 5,212 tonnes in January compared to 854 tonnes in December, the company said recently. A second continuous miner at Penumbra is expected to see output increase to between 20kt to 25Kt in February increasing again to 35Kt to 40Kt in March, the company said"
Here is Village Main RNS release: http://www.villagemainreef.co.za/news/f/VMR-JSE-SENS-announcement-18Mar2013.pdf Village Joint Chief Executive Officer Marius Saaiman said: “We think Continental is at an inflection point in terms of its development. The Company has a strong portfolio of projects and has demonstrated its ability to develop and operate mines and we look forward to working with and supporting the management team as production continues to increase and as greater value is recognised within the Company.”
I posted this a month ago. The last paragraph is very interesting: http://www.miningmx.com/page/news/markets/1529614-Village-Main-on-lip-of-broad-corporate-reshuffle#.UUa8nRdCCSp
Lol, don't tell Warren Buffet that as he'll have a quiet word in your ear about it!
I doubt it's news about Mashala. Mashala was specifically mentioned in the previous trading halt whereas it hasn't been this time. Not sure what is coming this time, but I'm getting quite excited!
http://www.asx.com.au/asxpdf/20130315/pdf/42dpcrt4mc0bz2.pdf
Hang in there mate. Not much longer before we can expect significant gains, in Q2 2013 imo.
I think part of that article hits the nail on the head. They have "invested heavily" to get to this point, maybe a touch too heavily one might argue. One has a choice in business - invest heavily at the outset and accelerate your plans or grow organically when assets are converted to cash. COOL have gone for the former and there is nothing wrong with that as long as you keep things under control. They need to make sure the transition between the debt incurred to get to this point and recovery of assets acquired is manageable and avoid the unpleasant position of having a firesale of any of their assets because they are forced to. My opinion is that they are just about staying the right side of the line. If the proposed off take at De Wittekrens and the non-core assets fall through, then maybe it's time to start panicking but it sounds like deals are going to be done in one form or another. The current share price reflects the slightly exposed position but I, for one, am happy to invest and hold, especially at this share price, and see how it plays out in the months to come. Hitman, things move along in business and you have to roll with the punches. What was said 6 months ago, or even 6 days sometimes, does not mean that that it is set in stone.
I'm hoping that the balance of the Vanmag monies have now been received and the final payment made for Mashala. Not sure it will be entirely that clean but it shouldn't be far away. The final purchase of Mashala is significant in my opinion. OK, that might not show immediately in the share price but it will give COOL full 100% ownership of Mashala's sites and hence allow COOL to use these sites as leverage/collateral as necessary. Basically, it opens up other options to COOL.
This is a useful summary of what's hot in Cool at the moment: http://www.conticoal.com/_content/documents/655.pdf
Yes, a bit on tenterhooks but I think it will be good news. COOL retweeted this from Proactive earlier today. Why retweet something and spread the word if it's going to be bad news? http://www.proactiveinvestors.com.au/companies/news/40441/continental-coal-to-provide-vanmag-mashala-resources-update-40441.html
http://www.conticoal.com/_content/documents/676.pdf They're certainly ramping up the exposure at the moment!
lol. Saying "cool" all the time is not cool :-)
GB may have lost its AAA rating, but you seem to have lost your marbles and your ability to turn the Caps Lock off.