Central Rand Share Discussion Threads

[tevita] 06/7/2017 14:40

THIS has got to be the FUNNIEST READ TODAY >>>>>>>>>>>>>>>>>


WE COULD BE LOOKING AT A 50 BAGGER!!

[tevita] 06/7/2017 14:39

ANOTHER LOSER by TEMMATOSS

[temmujin] 06/7/2017 14:24

all puno need to do is agree to pay it..if they havent got it then get a loan and put it on crnd..spread bet whatever...and they will make a packet and pay off crnd easily

[badger60] 06/7/2017 14:06

......but have they got the money to pay for it? Imo they haven't or won't if they have, so they lose their stake which is (suspended) worth no more than £500k...........

[winston270] 06/7/2017 13:29

I can see where your coming from, I believe its very recently been increased to 30%, Punto own 26% of CRND. On the side, if Black Economic Empowerment partners own a sizable stake within a company on the basis that they should profit from the company when times are good, why shouldn't they also be expected to cough up when the company needs additional funds to continue trading and treated equally the same as all other shareholders??

Ultimately that's all the court case boiled down to at the end of the day. They had the funds to challenge CRND legally on the basis it could go against them, they lost fair & square.

[badger60] 06/7/2017 11:09

I'm just looking at it from the point of view that the SA govt.,if I remember correctly, want a black 30%? ownership of companies. If court rulings such as Puno are deemed to obstruct this process by the financial crippling the ability of black company ownership, then maybe the bigger political agenda could legally take precedence over the actual dispute itself.

[temmujin] 06/7/2017 08:22

SO the puno case is now closed...too late for puno to appeal...should get the chinese bids now,that was the stumbling block..apparently

[winston270] 05/7/2017 10:47

Water Level now at 170.84 MBS

[induna123] 27/6/2017 14:22

Not yet, just as well really. You would have seen a whole new bunch of people sucked into buying after the puno rns before the share price plopping back.

[badger60] 27/6/2017 13:53

Have the shares started trading again yet?

[winston270] 26/6/2017 12:49

The recent figures quoted ZAR 13m (cash & receivables) & ZAR 9.9m to be paid out. That leaves them with ZAR 3.1m ($240,252). What we don't know yet, is if the metallurgical plant is profitable & now self supporting, the income has been used to pay outstanding creditors, but we don't know who they are or what that was for or the size of the payments. They do have some spare cash, but have no room for manoeuvre for anything unexpected to go wrong.

'The income generated from gold produced and tolling fees has been utilised to pay down outstanding creditors, so as to ensure that historical debtors are reduced'

I assume they will need funds to expand to metallurgical plant to full capacity, how much largely depends on the payment terms they have for processing the third party ore.

CRND have more often than not, gone right to the wire when releasing Annual Results, 2016 was 30th June, 2015 was 1st July

[badger60] 25/6/2017 03:14

Yep....every RNS is another nail in the coffin. I can't see how they are going to meet requirements to be a going concern.

[timw3] 23/6/2017 14:59

o/t UKOG massive OIL hit!!!!

More news next week by the looks of it. Weekend press will be all over this,

Politcally stable, funded, oil seeping out, Whats not to like.

Can see 3-4p easy next week imo

[winston270] 23/6/2017 14:59

RNS - Annual Accounts to Dec 2016 will not now be published before AIM deadline

[temmujin] 21/6/2017 08:18

just had my june spread bet closed at 0 pence and rolled at 0...i thought being suspended that it would have stayed at 0.4p...any views on this?

[glibgibon] 20/6/2017 16:52

It is a High Court judgement, so technically PUNO could appeal it at the Supreme Court. I think PUNO were just trying to put CRND out of business to avoid having to make payment as a shareholder.

I think PUNO will drag it out for as long as possible, but not sure they will want to take it to the Supreme Court.

[winston270] 19/6/2017 16:32

The wording of the judgment sounds pretty final:

-----------------------------
1. [That] the funding call directed by the first and second applicant (CRGSA and CRGNV) to the respondent (Puno) on or about 17 September 2008, for payment by the respondent for ZAR72 326 573.47 is declared valid and enforceable.

2. The respondent is ordered to pay the costs of the application.

3. The counter-application is dismissed with costs.

4. Both cost orders include the costs of senior and junior counsel"

Puno retains interest in CRGSA but owes CRGSA and CRGNV ZAR72,326,573 (approximately US$5,684,420 being the original loan amount plus compound interest).

-----------------------------

I don't see what Puno would gain by appealing, other than stalling, they've lost. By stalling further, the legal costs & compound interest will spiral higher.

[badger60] 19/6/2017 16:17

Can Puno appeal the decision?

[gc321] 19/6/2017 15:01

Normally a co have to set aside a sum of money when legal action is taking place but this is south africa we are talking about! The goalposts could be moved anywhere or removed completely!

[winston270] 19/6/2017 14:58

If Puno don't have the funds to pay the High Court Settlement, surely it would never have gone this far & for so long. Both sides must have racked up large legal expenses over the years. Why would CRND persue Puno for the past 9 years fighting something that even if they did win, still wouldn't result in them receiving a single ZAR???

Surely the High Court would have been aware of Puno's assets / financial standing before any settlement award was made???

[badger60] 19/6/2017 08:36

Simples.........

[temmujin] 18/6/2017 23:53

all Puno need to do is buy shares in CRND then pay off CRND and they will get it all back and more when crnd rockets by 20x or more