Coal of Africa Share Discussion Threads

[unglove] 23/10/2013 17:59

What evidence is there to support the bottom being reached?

[channel pirate] 18/10/2013 09:02

Oggy - agree with you, and just like yourself I have been in here for a good while, 6 years in fact, and still hold some shares at 151.75p (ouch !!) however I have managed to average down to 19.29p, but should we fall further then I will add and bring the average down a tad more. DB looks to have a 'plan' and has managed to convince the ii's it will work by the looks of things, so that's good enough for me.

[oggyrocks] 18/10/2013 08:28

Agree Moopdoom. If you were looking to invest then this has massive upside.

The problem for long term holders is we are all sitting on big losses, but if you were just getting in here then you are certainly buying at the bottom, with big upside if they get it right.

Not sure I'm ready to invest further, but will carry on holding.

[moopdoom] 17/10/2013 22:37

I actually think there's some asymmetry being offered here.With a long horizon, small-cap value has offered the best risk-adjusted returns of any asset class over the last 100 years.Think how much you're paying for the assets. In fact, forget about everything except for the assets, because they're alleged to be worth a multiple of today's closing price.Anyway, that's my take on it. I could be wrong, and this could remain a value trap for a long time.DYOR IMO

[oggyrocks] 17/10/2013 10:49

Still holding - but not much to report on apart from being very depressing. Hoping for better times

[saikat] 17/10/2013 10:49

Such an operational disaster over so many years. Feel sad for the investors here.

Any of you know why they could not do any better with their Woestalleen/ Mooiplats thermal coal Witbank/Ermello assets?

Also intrigues me why Exxaro never picked up their 30% option over Makhado - 80% coking coal resources of South Africa is in Makhado.

[outfly] 17/10/2013 10:30

Wow, no one even bothers to post on here any longer. Over a month since any posts, looks like most have given up on CZA.

[lukeisbackontrack] 15/10/2013 17:43

Thanks bad boy. African m looks good. I dont really know what to do there are 2 options and need to choose one. Get back to the game or move on with property. Get on IM when you have a min

[bobsa] 15/10/2013 06:40

So they're stopping mining at Vele after years or wasted money and delays. Atleast it won't be dripping endless cash. Vele was always about their Semi-Soft Coking coal, so not sure why they didn't build it that way in the first place. Cash I guess.

VELE COLLIERY UPDATE

Coal of Africa Limited ("CoAL") is pleased to announce that its board approved a R220 million expansion at Vele Colliery in August 2013. This is in line with the Company's publicly announced strategy to reposition itself as a project development company focusing on its coking coal assets.
The approval follows the re-evaluation and confirmation of the quality of coal at Vele, and the conclusion of a review of the current operations. As part of that process and in order for the colliery to reduce the current cash losses incurred, the colliery will cease production during October in order to prepare for the construction phase of the announced expansion. The Company has commenced the required fund raising activities which should be finalised by the end of March 2014. Completion of the expansion is expected by the end of 2014. Thereafter, the colliery will begin to ramp up operations during 2015, and will be at full production by the end of that year.
A collaborative and inclusive engagement process with the contractor companies operating at the mine has been concluded, with 49 people retained. A total of 138 employees have been redeployed to other operations and 155 employees were retrenched. Throughout this process, the Company attempted to minimise job losses, while proactively engaging with all its stakeholders to minimise these impacts. This resulted in 55% of jobs preserved.
The Company's commitment to recruit from its local labour-sending areas will be upheld upon commencement of the construction phase in 2014.
The Company will continue to honour all its obligations in terms of the relevant authorisations, and remains committed to on-going engagement and co-operation with all its key stakeholders.

[lukeisbackontrack] 11/10/2013 11:15

cheers mate. Interesting stuff

[lukeisbackontrack] 10/10/2013 18:01

31 October 2013 First Quarter Report 2014
what you make of that. tech looking good

[bad robot] 09/10/2013 22:50

Good evening boys

I am still a waiting buyer at 1.7p

[bad robot] 09/10/2013 22:50

Good evening boys

I am still a waiting buyer at 1.7p

[lukeisbackontrack] 08/10/2013 15:45

Looks like party over for abm. I will be more generous for coal of africa and will buy at 5p. Gl

[bagowank] 08/10/2013 15:23

I'm a buyer here at 3p

[cgee1] 08/10/2013 08:14

Stop your shares being loaned for shorting.....this was taken from a CFD site

There are two things you can do, the first is to certificate them but this is not obviously to everyone's advantage but the alternative solution is simple. All you do is to phone your broker and put an order in saying that you wish to place your shares for sale at, for arguments sake, double today's price. As they are 'on order' they cannot be lent out by your broker and in turn you are reducing the amount of 'free shares' out there that can be used for shorting purposes. And don't forget to move your limit order up when the price starts to recover, then, that way your shares can't be shorted - not much but helps.

Although an individual personal investor will not normally have enough shares to halt a concerted shorting attack, if a large number of holders did this it would reduce the overall amount of shares that they could get their hands on.

Well worth doing if not only for the knowledge that your own shares cannot and will not be used in a short attack against the very share that you own.

[lukeisbackontrack] 03/10/2013 18:33

I am surprised this still holds 8p. 5p is my max. Bad boy you silly sausage. I am so jealous over this trip. I am sure you have great time and hope court will go as planned. ABM looks like a good punt for tomorrow.

[oggyrocks] 03/10/2013 14:45

my breakeven is about 45p. Could be a while before I see that again!!!

Oh well - live and learn.

[a2584728] 03/10/2013 14:07

I have loads at a price much higher than this and am still convinced that 1 day I shall turn a profit, forever the optimist!!!!

[oggyrocks] 03/10/2013 13:27

This has to be the most depressing share to hold ever.

Think you could be right Robot, this has certainly drifted and no positive sentiment at the moment.

Wont buy more, but do hold. Big stock overhand at the moment.(again)

[bad robot] 03/10/2013 13:18

I am a buyer at 1.77p

[mrshaungcm] 30/9/2013 12:00

panic - a rise