Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
News at last. They are selling the Jiangsu plant within 3 months. Shame really, as that was a real gem but at least they will be strengthening the balance sheet and can concentrate on Sal de Vida which is a world class asset. Plenty of activity going on in that region for Lithium so that ought to be a company making site for them anyway. News hasn't gone down particularly in view of the share price but I think that will recover once the news sinks in that all of their debt will have gone and those that have been locked in for a few months move on to pastures new. As far as CRHL is concerned, we should also see a significant improvement on our £1.2m MC IF we ever get trading again on AIM.
Let's just hope they can muster something in the next 6 months or it's curtains for the shareholders. There must be some real bargains out there somewhere as the mining sector in Oz is on it's arse at the moment although CRHL aren't exactly flush with spare funds. Hopefully, now they are in suspension, they can be a bit more open about what they have their eye on knowing that the speculation won't affect the share price. To be honest, my expectations aren't particularly high and that this could well be it for shareholders.
No idea. Perhaps it means get back in, it's about to rocket! Still can't quite understand how an investment company cannot find something to invest in after all this time. Unless it's planning to invest more in GXY but the timing of Gxy's delays means they can't show their hand just yet. I wish!
Must be quite the deal this one! Nice little bonus in the RNS too about the Toll Agreement with Tianqi - every little helps the bottom line!
Hope the news is good from GXY. It's going to be big news whatever it is as it's taking so long. Note to self - the "500" code means "get the heck out before it plummets". To be honest, I'd rather the shares weren't suspended from AIM but it's not the end of the Company if they are. Their interest in GXY holds some value which will hopefully increase a lot more in the coming months/years.
Extended suspension to 4 March. No change from earlier suspension release other than the words "significantly strengthen the balance sheet" as opposed to the earlier release which said "strengthen the balance sheet". It's going to be a "significant" release when they do finally reveal it.
I expect it's on the back of this news: http://www.asx.com.au/asxpdf/20131204/pdf/42lcwphdd0t5gg.pdf Plant modified to take from alternative sources and confirmation of break even by year end. Alternative sources "including Talison" which means they might be expecting it from other sources too. This plant, if it works as well as it is meant to, is the real company maker in terms of profits for Galaxy. Just need it to get a real head of steam going for a prolonged period and the money should roll in.
Would like to say there may be some games going on with the share price but that would be lazy so I'm just going to ride it out and see what happens. It looks to me like those recent large trades are someone putting their shares into an ISA.
http://www.asx.com.au/asxpdf/20131107/pdf/42kpr8g3clptjk.pdf http://www.asx.com.au/asxpdf/20131107/pdf/42kprb4x570mxm.pdf Quoting "personal reasons". In my wildest dreams, it is "personal" because his company, via CRHL, are going to buy GXY out and so he cannot be on the GXY board whilst that is going on. If only.
http://www.engineeringnews.co.za/article/continental-opens-r351m-underground-coal-mine-2013-11-05
http://www.asx.com.au/asxpdf/20131011/pdf/42jyttgh7xx2np.pdf Certainly an improving picture production-wise. Cash flow break even expected later this year.
Bought some last time at 7p and it bounced up to 9p in a week or so, when I sold. Might try that again.
Seems to have stopped the rot and has had a couple of decent days, with high volume as mentioned which I always like. REM has gone mental over the last month or so (well over a 30 bagger at one point) with their lithium results. Just goes to show that the product itself is a very good one. The product isn't in doubt here though - it seems to be a case here of whether GXY can run the business effectively! Hopefully now, with money in the bank for production, we can start to see some better returns by the end of the year.
http://www.investegate.co.uk/continental-coal-ltd--cool-/prn/continental-coal-enters-into-binding-term-sheet/20130918070000P1FF9/ I'm glad they are not going to "do" Botswana themselves. It is a huge resource but probably some years away from full development due to the lack of infrastructure generally in the area. Would be good to know who the third party is.
Patience? The Company just need to get their heads down for a while by continuing to ramp up production at Penumbra and paying down some debt. It's early days at Penumbra but eventually the value will come through. A positive change in the outlook for coal would be welcome too although that's not likely to happen overnight.
http://www.platts.com/latest-news/coal/london/s-africa-grants-continental-coal-mining-right-26251378
http://www.asx.com.au/asxpdf/20130813/pdf/42hms8c8ds83zd.pdf Well, I wasn't expecting that news. Wonder if it's tactical (for an aggressive takeover later) or whether they don't envisage a decent return on their investment in GXY. You have to wonder where CRHL go from here. Let's hope they provide us with their future plans soon.
What a tease. Was hoping to wake up to some definite news this morning. Never mind I can wait until it's good and ready. Fingers crossed that CRHL are heavily involved in this process.