If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Rotala are currently in the process of re-financing some of their existing vehicles, with new charges being applied to Diamond Bus Limited & Diamond Bus North West Ltd in the past few days.
60 of the 130 NX Coventry Electric DD's leased from Zenobe are already in service. These are replacing 19-21 years old double deckers which are just being scrapped, there's very little market for used buses of that age.
I'm assuming some/all of the remainder of the 470 new buses due to follow those, will also be acquired by Zenobe & just leased to NX. Some of these will be replacing 150 x Scania Omnilink single deckers dating from 2007-2010, unfortunately these too have very little re-sale value, as Scania's are known to be thirsty on fuel & the Omnilink model isn't very popular with other UK operators, fortunately 60 of those dating from 2009 were leased. However, another 20 + Scania's from the above batch have already been removed from service & are sat depreciating in NX's reserve fleet / bus graveyard.
Correction to original post:
NXWM have now ordered an additional 300 x electric buses taking the total number due by the end of 2024 = 600.
300 Electrics announced today
170 Electrics announced at The Conservation Party Conference in B'ham
124 Hydrogens announced from ZEBRA funding awarded(100 x deckers & 24 x Artics) - the wording in the above press release suggests these can now be either Hydrogen or Electric
130 Electrics currently halfway through delivery for National Express Coventry
The above will be dual sourced from ADL & Wrightbus.
Thus, 40% of NXWM's 1400 strong fleet will be zero emission by end of next year.
NXWM is ordering another 300 x Electric Buses for delivery by the end of 2024 on top of 124 Hydrogen Buses still due (100 x Double Deckers & 24 Artics)
hxxps://www.nationalexpressgroup.com/media/news-releases/2023/national-express-west-midlands-invests-record-150-million-in-300-uk-made-electric-zero-emission-buses/
Turner-Pope-Investment-Presentation:
https://www.orosur.ca/files/Turner-Pope-Investment-Presentation_December-2020.pdf
Update from Investor Relations - I've forwarded the original email received tonight to those people that previously emailed for a copy of latest accounts etc - Makes grim reading I'm afraid. If anyone has any comments or suggestions please respond to crg.investor@outlook.com
Dear Paul,
We hope you are well and would like to update you about the situation of the Company.
We have tried to communicate to different stakeholders in South Africa to get a better understanding of the situation in relation to CRGSA. And many have suggested that obtaining the business rescue approval from the court will be impossible, and even if the court grant the business rescue application it will probably ask tens of millions of US dollar injection from the shareholders, as the plant is mostly stripped from the illegal miners even though the court has assigned security company, Volsec, to protect the plant. (Please note that Volsec is also the applicant who applied the liquidation of CRGSA). The major shareholder of the Company, Mr Wang, is unable to fund the capital injection from his own.
In a nutshell, it seems it is quite highly likely that CRGL will become a shell company in the foreseeable future. If that happens, Mr Wang is unwilling to inject further capital to keep CRGL. We would like to know, if CRGL becomes a shell company, do you think the rest of the shareholders are willing to inject capital (approximately 100,000 pound) to keep CRGL in a compliance status (e.g. remunerate resident agent) and acquire other projects (script deal most likely)? Or will you just suggest that we just close the company for good.
Redstone Capital is currently the largest debt holder (approximately USD10m) of the Company, they are willing to convert the debt into equity so the balance sheet looks healthier.
Both Redstone Capital and Mr Wang have injected approximately USD17m into this Company, and it is sad that it is highly likely that all shareholders will lose their investment. However, without further capital injection, the Company will facing striking off.
Thank you for taking time to read this long email and wish you all the best,
Investor Relation
If any investor has not seen the AGM / 2017 Annual Report yet, I have been forwarded them from Investor Relations with the above email response - If anyone wants a copy, please email me at winst72@outlook.com & I'll forward them on.
All - For your info, I've recently had a reply from CRG Investor Relations which provides a bit of clarity re: Liquidation.
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There is also a request for help - If anyone knows of a corporate service provider that may be suitable - please let Investor Relations know via crg.investor@outlook.com - It's in all our interests to help where we can.?
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crg investor
Tue 30/07/2019 16:05
You
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Dear Paul,
Thank you for your email.
Please see the attached AGM info pack.
In relation to the liquidation event of CRGSA, Central Rand Gold Limited ("CRGL") is also trying to gather as much as information as possible to investigate further, this including seeking clarity from the South African directors of CRGSA as well as other relevant South African stakeholders. However, please note that CRGSA is not the same company as CRGL. No creditors have applied for liquidation of CRGL. Having said that, CRGL has its own issue such as finding a new corporate service provider or a new NED from Guernsey Island. If could you assist with that, please do let us know.
Best Regards,
Investor Relation
There seems to be more people checking in on the ADVFN BB than here:
https://uk.advfn.com/stock-market/london/central-rand-CRND/share-chat
I'd be more interesting in receiving 2018 accounts.
Syed48 on ADVFN BB's is in contacts with CRND's registrar in Guernsey, he's posted that CRND will at some point soon be putting forward a 1.76p / share offer for our shares or relisting options (I assume that will involve new investment & existing shareholder dilution) - no more available thus far.
CRND's website has been down for the past few days. The domain doesn't expire until 12 Sept 2019
Domain Name: CENTRALRANDGOLD.COM
Registry Domain ID: 590441686_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.domains.co.za
Registrar URL: http://www.domains.co.za
Updated Date: 2018-09-05T09:01:44Z
Creation Date: 2006-09-12T08:21:44Z
Registry Expiry Date: 2019-09-12T08:21:44Z
Registrar: Diamatrix C.C.
Registrar IANA ID: 1645
Registrar Abuse Contact Email: abuse@domains.co.za
Registrar Abuse Contact Phone: +27.116409700
Domain Status: clientTransferProhibited https://icann.org/epp#clientTransferProhibited
Name Server: NS1.VODACOMBUSINESS.CO.ZA
Name Server: NS2.VODACOMBUSINESS.CO.ZA
DNSSEC: unsigned
URL of the ICANN Whois Inaccuracy Complaint Form: https://www.icann.org/wicf/
>>> Last update of whois database: 2018-09-26T12:12:53Z <<<
k.j.k,
I agree, it suggests there's still a decent size operation, we can only hope that as CRND are still trading (even if it is on a wing & a prayer) that things may eventually improve in a favour at somepoint. Best we can do is keep trying Investor Relations to remind them we're still out there....
Good spot k.j.k, it appears we're still trading and hanging on in there at least. The increase in pog certaintly won't do any harm.
I've tried investors relations twice and also copied in info@centralrandgold.com & still nothing. As long as they know we're still out there & not going to walk away whilst the lights are still on.
It's looking dire, but as far as I am aware, the lights are still on & they are still processing / trading some how.
We've certainly had no correspondence / announcement on their website to say they have ceased trading. We've all lost a lot.
I am assume the Water Levels haven't been published since CRND lost their mining license, I assume this to on/around 18th July.
It's about time we had an update on what's going on.
Has anyone else had any joy getting a response from CRND / or related parties?
Thanks for the update Simon!
I've never known such a palaver, just when you think that noting else can wrong, wham! Have they just lost the New Order Mining Right or the 7 New Order Prospecting Rights as well? So effectively, CRND have now lost their main asset & resource for the second time (previously 2011).
How exactly can CRND re-acquire the mining right when they don't have any cash? Is it also fair to say that it may not exclusive and another party could come in a bid for the new underground mining right despite CRND donating the Ritz pumps etc?
It seems CRND's neighbour ASX listed West Wits Mining Limited have re-started open pit mining, might be an opportunity to offer processing capacity:
http://www.miningweekly.com/article/west-wits-breathes-life-into-old-gold-mine-2018-07-26/rep_id:3650
http://www.proactiveinvestors.com.au/companies/news/200805/west-wits-mining-adds-428000-ounces-to-south-african-gold-bounty-200805.html
The TCTA Water Level hasn't been updated since 18th June.
I'd also be inclined to agree, whilst they have very little cash left (US$174,000) they do also have zero financial debts. So they should have more options open to them, with higher grades located elsewhere & still low gold prices, it *may* be a good move long term if they can recover.
Hi Simon, I'd be interested in seeing a copy of your discussions. My email address is winst72@outlook.com
Without pointing out the blindingly obvious they were suspended from trading due to not having sufficient financial standing to continue listed as a going concern on both LSE & JSE, upon the placing being cancelled late last year & suspension not being lifted within 6 months they were automatically de-listed from LSE. They said then, that the future of their JSE listing would be under review. Again, pointing out the obvious which is clearly stated in black & white in the recent statement, they are de-listing from JSE to cut costs. The fact remains that they are in precarious position and their future hangs in the balance on the back of the concentrator circuit, they are trading on a shoe string budget, but still trading at present. Mr Wang is now in the driving seat, and it wouldn't look good on him if suddenly CRND failed & the asetts transferred to Mr Wang by defaulting on his latest loan agreement. I'm under no illusions on my seeing my CRND investment again, if we get anything back from this mess, it would merely be a BONUS! Maybe if you've got nothing more constructive to add, might be best not to bother commenting......