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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Central A.G. | CAN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 0.55 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.55 | 0.55 |
| Top Posts |
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Posted at 08/10/2010 09:56 by andrbea maybe too risky for the moment (reading this)23.8.10 as delisting in London is one of the scenarios: Key developments for NEW DAWN MINING CORP (ND) New Dawn Reportedly Mulls Zimbabwean Operations With Central African 08/23/2010 New Dawn Mining Corp is known to be looking at merging its Zimbabwean operations with Central African Gold Plc. New Dawn had recently acquired Central African. Sources stated that it is likely that the merger would take place at Zimbabwean asset level, resulting in an offer to CAG minorities and a de-listing of the company. An investor note from New Dawn stated: "New Dawn is currently developing a revised and updated strategic business plan in light of its acquisition of a controlling interest in CAG, with a view towards reaching consolidated annualized gold production of 50000 to 60000 ounces within the next 18 to 24 months, increasing to 100000 ounces within four to five years, and then ultimately to 200000 to 250000 ounces." The note added: "Additionally, the company is reviewing and assessing CAG's extensive portfolio of exploration properties in Zimbabwe for future investment and development. New Dawn's plans with respect to CAG's assets and operations will be developed and implemented taking into account New Dawn's ongoing discussions with and submissions to the Zimbabwe authorities." Central African told its shareholders: "The board further announces that it is undertaking a comprehensive strategic review of all of the company's operations. A further announcement will be made following completion of the strategic review." It is known that New Dawn's Zimbabwe subsidiary is currently holding talks with the Competition and Tariffs Commission (CTC), which has asked it to submit various documents related to the CAG transaction. |
Posted at 30/9/2010 23:23 by bonsoir7 oh dear...Another gold mine, Falgold, which is in a fundraising quandary, was slightly lower at US7,10c with Bindura down 0,60 cents to close at 14 cents. Falgold was financed to the tune of US$2 million by its new parent holding company, New Dawn Mining Corporation but the conditions of the loan have scared away investors. However, investors are not keen on the shares because the loan is payable on demand and the shares will remain flat until the company gets a convenient funding model. In the first six months of the year, Falgold generated just above US$200 000 in revenue and last year it generated US$474 000. |
Posted at 25/1/2010 16:21 by buystock FOR REAL INVESTORS |
Posted at 25/1/2010 14:26 by daytraders buystock, im not sure if your trying to mislead investors, but the post that relates to 7 years ago, and not even relavent really, where it says Fal was making 739million dollar profits, you do know that relates to just a few million usa dollars right ? anyway nice to see a rise today, gl all |
Posted at 24/1/2010 07:10 by buystock CAG Seeks Partners to Develop Zim AssetsPosted on: Fri, 22 Jan 2010 08:07:43 EST Symbols: CAFGF Are you looking to increase your ETF knowledge? See the PowerRating of CAFGF now and learn how it rates on a 1-10 scale.The higher the PowerRating, the greater potential short-term gain based on historical data. Harare, Jan 22, 2010 (The Herald/All Africa Global Media via COMTEX) -- CENTRAL African Gold's board is engaged in the identification of strategic financiers and partners to further develop its Zimbabwean assets after shelving plans to dispose of them. The company's chairperson and president, Mr Roy Pitchford, said the stated strategy of the board was to focus on the development of its Zimbabwean assets. "To that end, the board continues to be actively engaged in the identification of suitable sources of finance and/or partners with which to develop further the Zimbabwe assets, to the benefit of all shareholders "And also that the company is not currently examining a disposal of the Zimbabwe assets," said Mr Pitchford. The group operates Dalny Mine, Venice Mine, Golden Quarry Mine, Camperdown Mine Quarry and Old Nic Mine. Mr Pitchford had issued a statement saying several options were being considered, including further debt financing, introduction of strategic partners, and the sale of the Falcon Group, to investors who would undertake to provide adequate funding to fully restore the mining operations of the company. He added that CAG was to advise Falcon Gold on the future plans for the company during the first quarter of 2010. "We look forward to resolving the future of the mines in a manner that ensures their continued operation and growth and thereby providing a secure and prosperous future to all staff and management," said Mr Pitchford in a statement in December. The decision by the board to reverse the intended sale of local assets comes at a time when the group said it would probably reinvest US$5 million realised from the disposal of its mining assets in Mali into its Zimbabwean operations. CAG also secured a US$1,2 million loan to capitalise its Zimbabwean mines. Recent reforms by the Government had given the group confidence to restart gold production, exploration and development programmes. we anticipate bringing Golden Quarry and Camperdown into production during 2010, before developing various other target properties," Mr Pitchford said |
Posted at 24/1/2010 06:31 by buystock LOOKS very much like the plan is all falling into place after fridays sale now given the green light and a very strong push north exciting times a return 2 dizzy heights Harare - LONDON-LISTED Central African Gold intends to merge its local mining operations, Falcon Gold Zimbabwe and Olympus Gold, with a view to listing the merged entity on the Zimbabwe Stock Exchange.CAG chief executive officer Mr Roy Pitchford told international media the move to merge the two was aimed at unlocking shareholder value. Mr Pitchford said CAG the move was meant to take advantage of foreign investors' current eagerness for local mining assets. "It would make sense to combine Falcon and Olympus to take advantage of investor appetite within Zimbabwe for exposure to mining," he said. Mr Pitchford said CAG was also exploring the option of listing on the Johannesburg Stock Exchange, Africa's largestbourse. "We are looking at a number of options and the benefit of a potential listing on the JSE". He also announced that the company has resumed limited operations at its Old Nic and Dalny mines while Camperdown and Golden Quarry mines were expected to come on line early this year. He said the company was working on raising US$10 million to recapitalise the mines, which, if successful, would help ramp production to 50 000 ounces per annum. "CAG does need to raise an initial US$10 million to refurbish aged plants, buy new equipment and develop the underground greenstone ore bodies to ramp up production over the next 18 to 24 months to levels the company had some years ago of 30 000 to 50 000 ounces a year," Mr Pitchford said. CAG shareholders have reportedly provided US$1,25 million working capital for the group. Recently CAG said they were considering selling some of their Zimbabwean operations to provide adequate funding to restore mining operations. In a statement, Mr Pitchford indicated that the group was also considering the introduction of a strategic partner at group level for Falcon Gold Zimbabwe Limited to finance operations as well as debt financing. CAG operates Dalny Mine, Venice Mine, Golden Quarry Mine, Camperdown Mine Quarry and the Old Nic Mine. The group said recent reforms by the Government had provided them with confidence to restart gold production, exploration and development programmes. Relevant Links Southern Africa Zimbabwe Mining Stock Markets Business The group was temporarily suspended from trading on AIM after failing to publish the company's annual report and accounts for the year ended December 31, 2008 and its interim results for the six months ended June 30, 2009. The group said once the initial production levels were achieved, plans would have to be put in place not only to update the plant, but also to increase gold production to reflect the potential of the extensive gold deposits owned by the company. Mr Pitchford said the company would eventually look at the wider portfolio of existing assets with a view to enhancing their value and potentially take advantage of their first mover position in the country to acquire additional projects |
Posted at 21/1/2010 21:43 by robson1974 CAG seeks partners to develop Zim assetsBusiness Reporter CENTRAL African Gold's board is engaged in the identification of strategic financiers and partners to further develop its Zimbabwean assets after shelving plans to dispose of them. The company's chairperson and president, Mr Roy Pitchford, said the stated strategy of the board was to focus on the development of its Zimbabwean assets. "To that end, the board continues to be actively engaged in the identification of suitable sources of finance and/or partners with which to develop further the Zimbabwe assets, to the benefit of all shareholders "And also that the company is not currently examining a disposal of the Zimbabwe assets," said Mr Pitchford. The group operates Dalny Mine, Venice Mine, Golden Quarry Mine, Camperdown Mine Quarry and Old Nic Mine. Mr Pitchford had issued a statement saying several options were being considered, including further debt financing, introduction of strategic partners, and the sale of the Falcon Group, to investors who would undertake to provide adequate funding to fully restore the mining operations of the company. He added that CAG was to advise Falcon Gold on the future plans for the company during the first quarter of 2010. "We look forward to resolving the future of the mines in a manner that ensures their continued operation and growth and thereby providing a secure and prosperous future to all staff and management," said Mr Pitchford in a statement in December. The decision by the board to reverse the intended sale of local assets comes at a time when the group said it would probably reinvest US$5 million realised from the disposal of its mining assets in Mali into its Zimbabwean operations. CAG also secured a US$1,2 million loan to capitalise its Zimbabwean mines. Recent reforms by the Government had given the group confidence to restart gold production, exploration and development programmes. "Subject to financing, we anticipate bringing Golden Quarry and Camperdown into production during 2010, before developing various other target properties," Mr Pitchford said. The group, in its annual report, said the board's experience remains that Zimbabwe is still a challenging environment in which to operate with ongoing and anticipated electricity shortages, a limited supply of skilled labour and very rundown plant and equipment. However, it added that once the initial production levels were achieved, plans would have to be put in place not only to update the plant, but also to increase gold production to better reflect the potential of the extensive gold deposits owned by the company. "After a turbulent start to the year, we are now focused on advancing our assets in Zimbabwe, which we believe offer excellent mid to longer-term prospects. "The political situation in Zimbabwe remains challenging. However, we believe we are seeing the first green shoots of recovery," added Mr Pitchford. He said substitution of the Zimbabwean dollar with the United States dollar and other hard currencies had vanquished hyperinflation and this and the recent World Bank grant all pointed to an improvement in operational conditions. "With this in mind, our immediate aim is to move into a cash-positive position and then expand production at our Zimbabwean mines," said Mr Pitchford. The group would look at the wider portfolio of existing assets with a view to enhancing their value and take advantage of their first mover position in the country to acquire additional projects. For the half year ended June 30 2009, the group produced 9,52kg of gold from 22 963 tonnes treated, a yield of 0,41 grams per tonne. Falgold attributed the reduced production to slow build-up following the decision to place the mines on care and maintenance since December 2008. Falcon Gold posted a loss of nearly US$2 million in the year ended June 2009. The company said the loss was a result of low production in the period after closing some mines over viability. Dalny Mine treated 22 963 tonnes of ore during the period producing 9,52kg of gold while Venice Mine remains on care and maintenance with initial exploration going on. |
Posted at 11/1/2010 14:55 by kajshares 86% of shares in the hands of institutional investors. The company in financial difficulties but intrestingly the two main creditors are the two biggest shareholders. These investors have also ensured that there are enough funds to enable the comany to trade for at least one year. However falcon mine needs funding for refurbishment. May be sold, but I doubt it. The creditors also hold very lucrative options/warrants, which may mean further dilution in future. Gold going through the roof. Pricewise, it appears that a big seller being cleared. Only Cancord Adams offering 0.07p. MACD at lowest level. This could be bad news or it could put a smile on one's face in 6 months. £2100 for 300k shares. All in? |
Posted at 08/1/2010 10:21 by robson1974 Falcon Gold: Going, going, gone? PDF Print E-mailThursday, 07 January 2010 17:42 FALCON Gold, a major mining company in the country, may soon go under the hammer due to severe operational problems. The company's chairperson, Roy Pitchford, said the mining concern was exploring several options to secure the future of the firm. Among the options, he said, was selling the company to new investors. "The focus of Central Africa Gold (CAG) is now to secure the future of Falcon Gold and to this end several options are being considered including further debt financing, the introduction of a strategic partner either at the CAG or the Falcon level and the sale of the Falcon Group to investors who undertake to provide adequate funding to fully restore the mining operations of the company," said Pitchford. The future of Falcon Gold, one of the biggest gold mines in Zimbabwe, would be made known during the first quarter of this year. Pitchford said lack of funding since 2008 and non-payment of gold lodgments by the Reserve Bank of Zimbabwe impacted negatively on production levels. "The absence of adequate funding during 2008 resulted in very limited gold production, a situation that has continued throughout 2009. The suspension from trading on the AIM exchange in London requested by CAG coupled with the world economic situation has prevented CAG from raising adequate capital," Pitchford said. He said the global economic downturn has made it impossible for CAG to support Falcon Gold. The company's principal property - Dalny Mine in Chegutu - last year treated 22 936 tonnes of ore producing 9,52 kg of gold and at an average yield of 0, 41g a tonne. Vince Mine in Kadoma, Golden Quarry and Camperdown Tribute in Shurugwi are under care and maintenance. Several mines in the country have shut down in recent years, suffocated by hyperinflation, lack of skills, power and foreign currency. Gold is a key foreign currency earner for Zimbabwe's struggling economy and accounts for about 52% of total mineral production and a third of export earnings. Gold deliveries fell to 13 000 kg last year from 21 300 kg the previous year with the central bank saying the mineral was being smuggled abroad where earnings were higher. The mining sector has been on the decline since 2000. This is despite the fact the country has a huge base of mineral resources and that there had been a sustainable worldwide commodity price boom from 2004-2008. Last year, Prime Minister Morgan Tsvangirai said the country could attract up to US$16 billion in exploration and mining investment if it corrected policies that have scared away foreign investors. Mining has become a pillar of the country's battered economy following the collapse of commercial farming. But large mining houses have kept away from Zimbabwe's mining sector after an economic crisis worsened by a nationalisation law requiring majority holding by locals in foreign-owned mines. |
Posted at 07/5/2009 12:08 by raginghippo This report indicates Gold & Silver miners are the best positions to hold short/medium term......If you've been a precious metals investor for more than six months you've heard about the rampant price manipulation on COMEX. (COMEX sets the cash price for gold and silver through its daily futures and options trading activity.) Many of us have been waiting for the illegal manipulation (run primarily by Bear Stearns until March 2008, then JPMorgan Chase since then) to end for over two years. Adrian Douglas thinks it may be over in as little as 30 days. At lemetropolecafe.com he writes (edited for length, link): BIG MONEY MOVING INTO COMEX GOLD & SILVER CALL OPTIONS In November 2005 when gold was trading about $450 I predicted the mega-move in gold up to $720/oz by noticing a very large build-up of call options in the HUI component shares. [link] In August 2007 I identified a massive Gold call option build-up in the COMEX DEC 2007 contract and predicted a big gold move. [link] Gold was trading at $660/oz at the time and ran up to over $1000/oz by March 2008. It just recently came to my attention from two different confidential sources that JPMorgan and Goldman Sachs have been buying large amounts of Calls in gold and silver. This made me put on my gumshoes and take a serious poke around the COMEX option open interest once again. Figure 1 shows the cumulative Open Interest across all strike prices for the COMEX Gold Call positions and the Put positions for the JUN 09 options. Figure 1 The ratio of Calls to Puts is 1.81 so Bulls outnumber Bears dramatically. What is also remarkable is the amount of open interest. For example, 100,000 contracts would be in-the-money if the gold price runs to $1,250/oz in the next 30 days. This is an astounding amount of option OI considering the open interest in all the futures contracts stands at only 345,000 contracts! Let's take a look at Figure 2 which is for DEC 2009. Figure 2 The bets by bulls outnumber those by the bears by a 2.3 to 1 ratio which is even more bullish than for JUN 2009. The Total Call option interest is 113,663 contracts which is very similar to JUN 09. Furthermore if gold is trading at around $1600 by DEC then 100,000 contracts will be in the money! I consider option players highly sophisticated speculators. Such large bets are likely being made by some large money interests who are buying out of the money options BEFORE going into the futures market. Buying long futures in large volumes will rapidly drive up the gold price but the massive open interest in the Call Options then allow access to much more futures contracts at the same price by exercising the options and then perhaps taking delivery of the gold. This is bolstered by sources revealing that JPM and GS are buying in quantity. So on the part of JPM this is likely a ploy to try to cover a chunk of their massive short position. Let's now look at silver. Figure 3 shows the cumulative Open Interest across all strike prices for the COMEX Silver Call positions and the Put positions for the JUL 09 options. The ratio of Calls to Puts is 1.80 so Bulls outnumber Bears by 80%. What is also remarkable is the amount of open interest. For example, 18,800 contracts would be in-the-money if the silver price runs to $25/oz in the next 60 days. This is an extraordinary amount of option OI considering the open interest in all the futures contracts stands at only 94,000 contracts! Figure 3 Figure 4 shows the cumulative Open Interest across all strike prices for the COMEX Silver Call positions and the Put positions for the DEC 09 options. The ratio of Calls to Puts is 1.68 so Bulls outnumber Bears by 68%. Again the total Open Interest in Calls is high at almost 25,000 contracts when the Open Interest in all futures currently stands at 94,000 contracts. Figure 4 I conclude that smart money is being placed for a massive rise in the gold price in the next 30 days and silver in the next 60 days (which probably means within 30 days for both metals) and again by December. Only sophisticated traders tend to be in the precious metals option market so when there is a huge build up betting on a particular direction that is typically a directional indicator as I have shown was the case for the last two big moves in the precious metal bull. The flat contango in gold and silver suggests there is a shortage developing of precious metals for delivery. We know that two large banks hold almost 100% of the commercial net short position. They need desperately to cover their exposure if the market is about to make a big move. It looks as if that is precisely what is happening. Adrian Douglas April 29, 2009 |
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