Share Name Share Symbol Market Type Share ISIN Share Description
Eastcoal LSE:ECX London Ordinary Share CA2761656024 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.375p 0.00p 0.00p - - - 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -60.6 -111.5 - 0.27

Eastcoal Share Discussion Threads

Showing 1 to 19 of 25 messages
Chat Pages: 1
Where did all the money go? Looks like this was set up purely and simply to take advantage of lax listing regulations to get money off investors for crooks in the Ukraine etc. Now that's some business model! A sophisticated scam. Wouldn't be surprised if it involved money laundering as well. Outrageous! The only positive is it didn't appear catch many PIs - only so called 'sophisticated investors' got taken by the look of it. I've seen it before and its becoming commoner, unfortunately, as directors/owners use the 'difficulty getting finance in the current climate' excuse to line their pockets. There are genuine cases, of course, but picking them out is getting harder and harder. This is a truly appalling example. Possibly the worst (and fastest) 'removal' of shareholder cash and value I've ever seen - in just over a year. I think when a company does a placing/raising within a month or two of listing the writing is on the wall. IMPO/DYOR/NAI Jo PS. Glad I didn't take a punt here, and hope no other PIs did.
ecx looking challenged...maybe later!?! Recover it all with big news coming on FML? Ex CEO predicts 8 fold (yes 8 fold!) increase in market cap by end of 2014. Sp has been due soon. Update announcement b4 w/end? Be quick!
Blimey, just checked in again upon this one and see this company has already been suspended just within 10 months of listing !
Steve, How did your company enquiries go? I too look for big turnarounds and see the size of the assets as very promising. However how much part do local politics play? Also what is the real cost of gettingproduction up to profitable levels? I read the latest announcement as paving the way for an (other) enabling fund raising (needing to drop the price below 20c) so there seems hope in that this suggests somebody is working on raising more capital. Could go either way big time it seems!
Hi guys, I am looking at this Company for the first time, as I always like to find stocks that have been oversold but with potential - don't we all :):) I have as yet made no decision at all on ECX - and have only today started my research. As yet I have found nothing to persuade me that this Company can turn the corner - in fact, the initial feeling I have is that they could well go bankrupt - basically it looks initially to me as being "sxxt or bust" However, I will be making various enquiries from the Company next week, and , in the meantime if any of our few posters here can be kind enough to tell me what they believe are the pro's and con's of this Company, it will all be of help to me, as, my knowledge of the Company is to date fairly limited. I cannot see on their website that the Directors own any shares at all - am I right ? I look forward to any insight that anybody who has a far deeper knowledge of the Company than I can offer. Thanks in advance, Steve
Looks interesting.
Hi Fenseal......glad to see today's price rise. The company announced that it had operational problems and was behind target. Suspect market feared worst re working capital. Price pick up suggests (to me)that fund raise may be in offing. Even a heavily dilutive raise should be good news given your numbers if viability assured and would dampen the Ukrainian risk factor as well. Best, T.
Hi guys and dolls, i have had this stock on my monitor for a while now waiting for something to happen, going off the last results they state they have equity of 66m after liability's and cash of 4m, they are in production with a turnover of $3.9m, can someone tell me why they only have a MC of 8.5m, and have i missed a problem with this company, cheers.
Something well adrift, do company have to speak?
When is the next bit of news?
yes, I agree with that.
Mr Byrne is an industry veteran who has done it before. I like the lowish risk strategy of early cashflow from the tips. If they can keep capex under control and bring production in on time this could be interesting. T
hm. Only 3 mm's here apparantly.
EastCoal Inc. (TSX-V/LSE-AIM: ECX), a mineral development company engaged in the acquisition and development of mineral resource properties, announces the commencement of trading on AIM ("Admission") at 8.00 a.m. today after a placing ("the Placing"). Pursuant to the Placing, the Company has issued 67,478,501 common shares at a price of £0.1221 per share to institutional investors and certain directors of the Company, together with a concurrent issuance of 10,326,577 common shares of the Company as settlement for a CAD$2,000,000 loan received by the Company from Salida Capital LP ("Salida") (on behalf of a fund managed by Salida) at a deemed conversion price of £0.1221 per common share, and the Placing proceeds, together with the proceeds of the Salida loan which will be converted into common shares and settled concurrently with the Placing will amount to gross proceeds of £9.5 million. Cenkos Securities plc is acting as the Nominated Advisor for the purposes of the Admission and the broker for the Placing. EastCoal obtained the rights to the Verticalnaya Mine, located in the Donbass Region, in 2009 and is currently advancing the development of this anthracite mine, targeting production in the first quarter of 2013. In addition, following the Company's acquisition of Inter-Invest Coal LLC in 2012, EastCoal is developing and increasing production from the Menzhinsky Coal Mine. This is an operating underground metallurgical coal mine also located on the Eastern side of Ukraine. Together with the New Wash Plant at the Menzhinsky Mine, production is expected to increase from approximately 6,000 tonnes per month currently, to 26,000 tonnes per month during 2013. The Company's objective is to increase total production from the current level to approximately three million saleable coal tonnes per annum. John Byrne, Chairman of EastCoal Inc. said: "Coal production from the Donbass basin in eastern Ukraine historically produced approximately 70% of the Russian Empire's coal rising to 200mtpa in the 1970s. Since this period the region has seen a decline in investment to the extent that Ukraine has had to import up to 11mt of coal per annum. In 2009 EastCoal recognized the opportunity created by privatisation and restructuring initiatives from the Ukrainian Government resulting in the Company becoming the first external player in a region of significant coal reserves. The Company has acquired and is developing two near term producing projects to meet the growing domestic and export demands for both the power and steel industries." Abraham Jonker, Director & President of EastCoal Inc., commented: "I am pleased to announce commencement of trading of the Company's shares on AIM. This decision was largely driven by increased investor interest from the United Kingdom. I am confident that the experienced management team that we have assembled, combined with the highly attractive project fundamentals would render our projects an extremely exciting opportunity for investors."
Not sure which will happen first, but in any case, 2013 is clearly going to be an eventful year.
lizzie ii
Looking good.....will market anticipate ramp up of production.....or wait till it happens?
From today now quoted on AIM, as well as in Toronto.
lizzie ii
Anyone know why East Coal dropped from C$0.36 to about C$0.24 on tiny volume at Canadian open today? Has recovered a bit since. No announcement. Is this just mopping up of stop-losses or is there something to it?
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