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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Coal of Africa | CZA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 43.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 43.50 | 43.50 |
| Top Posts |
|---|
Posted at 15/1/2018 12:37 by boodgewoodge there is negligible volume being traded , the spread has contrary to expectations widened , SENS/RNS seems to be furthest from the boards mind , zero increase in investor interest , whats going on here .....shafted , built up for further dilution or does the management have a definitive plan of action |
Posted at 15/12/2017 13:41 by boodgewoodge lets hope before end of the year carrys some weight , surely the board would have been aware that the investors would not be falling over themselves to get in based only on re branding and a reduction in the shares issued ..... wheres the catalyst Mr Brown ? |
Posted at 15/12/2017 08:06 by 2bozmo I was the only private investor at the AGM and had the opportunity to spend 30 minutes with David Brown at the end of proceedings. Hopefully we'll have some positive news by the end of the year. A lot was said to me in confidence and don't want to break that trust, but this is a gift at these levels, everything very positive (particularly Uitkomst) and going very well. I've met David on a number of occasions prior to this and this was the most optimistic and positive I've seen him. |
Posted at 21/11/2017 18:34 by boodgewoodge Gauging from the trend of the share price on the jse this looks like we are heading for the abyss! I can only assume that the board have thought this through thoroughly and have sourced the prospective investors who are not allowed to consider penny stocks for their portfolios and we are not progressively sold down to these dismal levels with one twentieth of our original holdings . Mr Brown spoke about "quantum leaps of the share price " in 2015 and now of " returns in the near term " for shareholders and all that has taken place is a continuous sell off with no interest on the buying side. With being fair to the board they surely have delivered their turnaround plan but this valuation is nothing short of ridiculous. The rebranding and consolidation must be coupled with why is the share price not reacting to all that has been achieved and addressed aggressively |
Posted at 24/10/2017 10:13 by 2bozmo Market cap is the same...The change will be attractive to institutional investors. The new company will be easier to market and gives the impression of a stronger company if higher market price. 2.8 billion shares currently out is not a good number.These don't necessarily drive the company forward on their own but when combined with continued execution over the next 9 months will be a positive overall. |
Posted at 10/10/2017 09:18 by boodgewoodge it would seem that the jse is waiting for the conditions to be fulfilled for the mooiplaats disposal given the uc debacle . need the board to be swayed in the direction of a second acquisition rather than the use of the proceeds for the development of makhado , a self sustaining company will attract more than sufficient investors for the makhado lite project |
Posted at 02/10/2017 09:52 by ianio5691 boodgewoodge2 Oct '17 - 09:23 - 10891 of 10895 condition precedents looks a bit daunting When you look at who the consoretium consists of, I think a sympathetic view will be taken towards any onerous conditions, as it would appear to be in the intersts of many locals , and local organisations for this to proceed... From the RNS... "Mooiplaats will be sold to MCH, a consortium of investors, for an aggregate purchase price of R179.9 million (the "Purchase Price"). MCH members comprise young black professionals, future Mooiplaats Colliery employees, communities, To The Point Growth Specialists Proprietary Limited and experienced coal mining executives, including Don Turvey," |
Posted at 02/10/2017 09:12 by ianio5691 RNS Mooiplats sold...SALE OF THE MOOIPLAATS COLLIERY Shareholders are advised that on 29 September 2017 Coal of Africa Limited ("CoAL" or the "Company") and its wholly owned subsidiary, GVM Metals Administration (South Africa) Proprietary Limited (collectively the "CoAL Group"), as well as its Black Economic Empowerment partner Ferret Mining & Environmental Services Proprietary Limited ("Ferret") entered into a sale of shares and claims agreement ("the Agreement") with Mooiplaats Coal Holdings Proprietary Limited ("MCH") and Mooiplaats Mining Limited ("Mooiplaats"). In terms of the Agreement, CoAL and Ferret will dispose of 100% of their shares in Mooiplaats and the CoAL Group will dispose of their respective claims against Mooiplaats and Langcarel Proprietary Limited ("Langcarel") ("the Transaction"), the owner of the Mooiplaats thermal coal colliery ("Mooiplaats Colliery") and a wholly owned subsidiary of Mooiplaats. The shares and claims in Mooiplaats will be sold to MCH, a consortium of investors, for an aggregate purchase price of R179.9 million (the "Purchase Price"). MCH members comprise young black professionals, future Mooiplaats Colliery employees, communities, To The Point Growth Specialists Proprietary Limited and experienced coal mining executives, including Don Turvey. The consortium is funded by the newly established Last Mile Fund created by Africa Rainbow Capital, Bernard Swanepoel, Sipho Nkosi and Clinton Halsey, and MCH's structure is compliant with the proposed requirements of the currently suspended third version of the South African Mining Charter. Rationale for the Transaction In delivering on the Company's strategy of restructuring its balance sheet and unlocking shareholder value, CoAL embarked on a formal sale process for the Mooiplaats Colliery during 2013. This Transaction concludes the process and the proceeds of the Purchase Price received by the CoAL Group will support the Company's project pipeline, ensuring it is well positioned to deliver on its flagship Makhado Project. Background to Mooiplaats The Mooiplaats Colliery is a thermal coal colliery situated in the Ermelo coal fields, adjacent to the re- commissioned Camden Power Station operated by state power utility Eskom. The underground Mooiplaats Colliery was developed by CoAL from an abandoned box-cut in early 2008 with the first coal extracted in Q3 CY2009. Mining was undertaken by a contract miner until June 2011 and, following an operational assessment, CoAL retained the existing workforce and equipment and commenced operating the mine. The reduction in global thermal coal prices from 2013 and rapidly increasing logistics costs resulted in the Mooiplaats Colliery being placed under care and maintenance in October 2013, and this status continues to present day. Terms of the Transaction Under the terms of the various agreements governing the Transaction, the Purchase Price is to be settled as follows: · An initial purchase price of R67.0 million ("Initial Purchase Price") shall be held in Escrow by the Company's legal advisors and be paid over to the respective sellers in the agreed proportions set out below on the Closing Date as contemplated in the Agreement, being the later of: i. 1 November 2017; and ii. The second business day immediately following the day on which the last of the conditions precedent to the Agreement are fulfilled or waived (the "Closing Date"). · The Initial Purchase Price will be settled in cash as follows: o R15.0 million to Ferret for their 26% interest in the Mooiplaats Colliery shareholding; and o R52.0 million to the CoAL Group for the balance of equity shareholding in Mooiplaats, and the claims against Mooiplaats and Langcarel. · The balance of the Purchase Price, being R112.9 million, will be settled in ten equal quarterly instalments (the "Deferred Payments"). The first Deferred Payment is anticipated to be due and payable on the last business day nine months after the Closing Date. The Purchaser will acquire ownership of (and all risk in and benefit to) the shares in Mooiplaats, and Claims against Mooiplaats and Langcarel, with effect from the Closing Date and, will be responsible for operations at the Mooiplaats Colliery from this date. As security for the Deferred Payments, and as a condition precedent to the Agreement, the parties will enter into various security agreements and bond documents which include, without limitation, a pledge and cession agreement whereby, as security for, inter alia, the Deferred Payments, each of MCH, Mooiplaats and Langcarel will pledge their respective shares and cede their rights in their respective shares and claims, and each of Langcarel and Mooiplaats will guarantee, inter alia, the payment by MCH of the Deferred Payments. Further, a special notarial bond will be registered in respect of specific assets of Langcarel as well as a general notarial bond over the remaining assets of Mooiplaats and Langcarel assets. Conditions Precedent The implementation of the Transaction is conditional on the fulfilment or waiver (to the extent permitted in the Agreement) of various conditions precedent, which are customary for a transaction of this nature and includes, inter alia: · MCH replacing the Mooiplaats Colliery rehabilitation guarantees (the "Guarantee") in a form satisfactory to the CoAL Group, and procuring the unconditional and irrevocable release of the Guarantee from the Department of Mineral Resources; · MCH replacing the Mooiplaats Colliery's Eskom Guarantee, and procuring the unconditional and irrevocable release of this guarantee by Eskom in a form satisfactory to the CoAL Group; · the registration of a special notarial bond over specific assets of Langcarel and a general notarial bond with the relevant Deeds Office over the remaining Langcarel assets; · the entering into pledge and cession agreements, as well as various security agreements, regulating the enforcement of the securities contained under the security agreements, in respect of which the Deferred Payments are secured; · obtaining Takeover Regulation Panel approval or exemption for the Transaction; and · entering into an agreement with Anker Mineral Coal Holdings South Africa Proprietary Limited ("Anker") regulating, amongst others, the abandonment by Anker of its prospecting right over Portion 2 of the farm Klipbank and the incorporation of this area into the Mooiplaats Colliery New Order Mining Right. David Brown, Chief Executive Officer of CoAL, commented: "The sale of the Mooiplaats Colliery is the final step in the Company's balance sheet restructuring strategy setting the course for CoAL to become a self-sufficient mid-tier coal mining company. The disposal will yield annual operational cost savings of approximately $1.4 million and the aggregate proceeds of approximately R179.9 million will be used to settle Ferret, our Mooiplaats Black Economic Empowerment partner, funding for further development of the flagship Makhado Project or the potential acquisition of a cash generating asset. The sale also frees up valuable in-house human resources, facilitating additional focus on Makhado, ensuring the asset can be brought to production optimally." |
Posted at 18/7/2017 15:47 by ianio5691 I think it will take more than fingers and toes to get this dog moving.We need some decent updates and news on whats happening. In fact we just need SOMETHING to start happening. Anything.... PR is non existent. It has been posted on another board that Celeste Reikert, Investor Relations, has left to join Universal Coal. |
Posted at 06/7/2017 14:41 by boodgewoodge the next good news should be the successful disposal of Mooiplaats by inference based on the way things have gone for the last 6 months or so , and if that does not lift the share price then common sense will dictate that an investor with even half a brain should jump ship ! |
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