Atlantic Coal Share Discussion Threads

[howesp] 04/1/2017 11:31

I an understand why there is some cynicism about the motives of the Board and what this deal means but look at it from a different perspective. ATC was selling anthracite to the US market but seemingly none to the rest of the world. I don't know why they did not but maybe they didn't have a worldwide sales infrastructure or Mr Obama didn't want US anthracite being sold abroad to countries at the back of the queue!
So maybe Atrium is providing the sales team and perhaps even some trade agreements between them as an Aussie company and other countries with whom they have trade agreements.
Just a thought.

[marmar80] 04/1/2017 10:37

They can do whatever they want, we won't benefit until this is delisted from the official market. Shame on you BoD of ATC! All they did here, they did for their own interest!

[xow98] 03/1/2017 10:27

Initial period of 12 months. ATC sell to JV at cost plus an administration fee which is currently not disclosed. Atrum take 60% of profit, 40% to ATC.

Not sure if a good deal or not. Why can't ATC market and sell the anthracite themselves and take 100%?

[doc robinson] 03/1/2017 09:57

Sounds very good

[p@] 03/1/2017 09:53

Well xow, according to Atrum-

Curiouser and curiouser !

Will ATC be able to deliver?

[xow98] 28/12/2016 07:55

28.12.16 Atrum Coal NL ("Atrum" or the "Company") (ASX: ATU) advises that, contrary to media speculation, Atrum is still in discussion with Atlantic Carbon Group PLC ("ACG") with respect to the detailed terms of the sales joint venture agreement and will update the market when discussions between Atrum and ACG conclude.

[xow98] 28/12/2016 07:55

28.12.16 Atrum Coal NL ("Atrum" or the "Company") (ASX: ATU) advises that, contrary to media speculation, Atrum is still in discussion with Atlantic Carbon Group PLC ("ACG") with respect to the detailed terms of the sales joint venture agreement and will update the market when discussions between Atrum and ACG conclude.

[xow98] 25/12/2016 10:07

Atrum were still talking about this in their AGM 30th Nov presentation ( - "The agreed US Sales Joint Venture with the Atlantic Carbon Group will combine the key strengths of each entity to create a producer of premium anthracite with the capability and clear pathway to become a leading global exporter of ultra-high grade anthracite."

However, ATC are still looking to "relist the Company either directly or via a takeover or merger with another listed company". It is likely that if a potential relisting/takeover/merger is underway that any potential suitor would see the Atrum deal as margin eroding and a negative going forward and would seek to avoid the JV.

This might be good news.

[the vogon] 24/12/2016 20:45

Straaange goings on:

23 December 2016 Atlantic Carbon Group Plc (“ACG” or the “Company”;) No Sales Joint Venture with Atrum Coal NL The Board of ACG, an anthracite coal mining company operating in Pennsylvania, USA, announces that it has not been possible to reach an agreement with Atrum Coal NL (“Atrum”) to form an unincorporated Joint Venture (the “Sales Joint Venture”) Atrum announced on 4th November 2016 that it had agreed to form a Sales Joint Venture with ACG to market and sell anthracite from ACG operations. The Board of ACG wish to make it clear that no such agreement has been reached between ACG and Atrum

[p@] 21/12/2016 19:00

From LSE board-

I sent an email to Barney asking for an update on the re-listing. I have emailed a few times and always get a prompt and polite response. Here is what he sent me:
QUOTE:
The plan is still to relist but this was rather put on the "back burner" when the potential takeover interest came about over the summer. This could have resulted in relisting via the company seeking to acquire ACG.
Talks are still continuing with other companies and matters should become clearer in the new year.
As you may know shares can be traded on the Capita matched bargain system and while there has been a fair amount of activity on this share prices have only been marginally above the closing price ie 0.092/3 p.
UNQUOTE
So I'm just holding to see what happens early next year. I certainly won't be selling through Capita as I think the price they are talking about is seriously undervalued, and I believe that if they ever get around to re-listing that the share price will be much higher than the price available through Capita. But that's just my own opinion, of course.

[p@] 21/12/2016 18:56

Last heard that the deals on matched basis are near the last aim bid/offer price.

[xow98] 21/12/2016 16:50

Currently corresponding with ATC. Anyone have access to Capita Matched Bargain System? If so, can you let me know what volumes are being traded and what prices are being achieved?

[xow98] 06/12/2016 21:21

Anybody have a listing of major shareholders immediately prior to the delisting?

[big7ime] 06/12/2016 20:54

It needs a shareholder action group maybe headed by someone in the legal business
Like Langbar, this appears to be a big fraud.

[garykc] 28/11/2016 07:48

Exactly my thoughts vatnabrekk. They will not sell the company as it provides them with lots of lovely "hard earned" money so we are stuffed.

[vatnabrekk] 26/11/2016 17:14

So now it seems to me that we are trapped in this - we are still shareholders, but have been diluted, and cannot sell. So we may get dividends some day in the future, but probably not enough to buy a loaf!

[garykc] 23/11/2016 10:41

"To authorise the Directors to allot equity securities wholly for cash on a
non-pre-emptive basis pursuant to the authority conferred by Resolution
1."
I suppose someone else has to rape the company!!!!

[xow98] 22/11/2016 12:24

18.11.16
Result of General Meeting held 18th November 2016.
Both resolutions were passed.
Resolution 1:
To grant authority to the Directors to issue shares up to an aggregate
nominal amount of of £1,533,546.
Resolution 2:
To authorise the Directors to allot equity securities wholly for cash on a
non-pre-emptive basis pursuant to the authority conferred by Resolution
1.

[marmar80] 19/11/2016 00:38

Expect nothing good for shareholders, xow.

[xow98] 18/11/2016 18:35

Any chance of an update following today's meeting? thanks

[p@] 18/11/2016 08:00

A notice convening the General Meeting for 3.00 p.m. on Friday 18 November 2016 at the offices of Daniel Stewart
& Company Plc, 33 Creechurch Lane, London, EC3A 5EB is set out at the end of this document.

Near the Gherkin.

[barnetpeter] 16/11/2016 15:56

This is the perfect example. A company worth many millions, bids galore yet nothing for PI's. Meanwhile the directors award themselves huge amounts of options and dilution galore.

A sale at 0.4c would have been fair enough.....but would that have been in the directors best interests? This company could easily be put up for sale.