Coal of Africa Share Discussion Threads

[topinfo] 22/9/2014 09:46

Sig yep news here has been great recently, they are in full turnaround mode and chart looks fantastic for a big bounce. 4p+ will be taken out pretty soon IMO and then could see 6p+ fairly rapidly

[bad robot] 22/9/2014 09:45

placing at 5.5p

when share price was 2.7



Coal of Africa Limited Private Placement
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Alert
TIDMCZA

RNS Number : 9518P

Coal of Africa Limited

26 August 2014

ANNOUNCEMENT 26 August 2014

COAL OF AFRICA LIMITED

PRIVATE PLACEMENT

Coal of Africa Limited ("CoAL" or "the Company") today announces that it has entered into conditional agreements with certain existing and new investors to raise up to approximately GBP38.225 million (or approximately US$64.9 million)(1) through the issue of up to 695,000,000 new shares in the Company ("Placement Shares") at an issue price of GBP0.055 per share ("Placement"). The issue price represents a premium of approximately 101.5% to the closing mid-market price on the AIM market of the London Stock Exchange on 22 August 2014.

CoAL is the holder of multiple large-scale coal assets that are strategically located in close proximity to existing logistics and infrastructure in the Limpopo province, with a combined resource base in excess of 2 billion minable tonnes in situ, with hard-coking coal as the primary product. Management has embarked on, and has substantially completed, a turnaround strategy with five key priorities, of which the final two outstanding are:

-- Completing the planned disposal of certain non-core assets (including the Mooiplaats Colliery); and

-- Securing funding of, and regulatory clearances for, the Makhado Project.
As further described below, the Company intends to use the bulk of the proceeds from the Placement, together with the proceeds from the planned disposal of certain non-core assets (including the Mooiplaats Colliery), to unlock the inherent value in the underlying resources over the short, medium and long termand provide working capital for the Company over the next 18 months.

Use of Proceeds

Subject to completion, the Company intends to use the expected proceeds from the Placement and from the planned disposal of certain non-core assets, including the Mooiplaats Colliery, primarily as follows:

[sigora] 22/9/2014 09:45

loos like aex this could well have a good few days

[loverat] 22/9/2014 09:44

This one tends to have a slightly delayed reaction to good news. Should be more to come and over the next few days. Might not spike up too much too soon.

Bad Robot is usually a good guide on entry point (just do the opposite to what he says)

[bad robot] 22/9/2014 09:44

Coal of Africa Limited Sale and Purchase Agreement signed for Mooiplaats
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TIDMCZA

RNS Number : 1903S

Coal of Africa Limited

22 September 2014

ANNOUNCEMENT 22 September 2014

Sale and Purchase Agreement signed for Mooiplaats

Coal of Africa Limited ("the Company" or "CoAL") is pleased to announce that it has signed a Sale and Purchase Agreement ("SPA") with a wholly owned subsidiary(1) of Blackspear Holdings Proprietary Limited, for the disposal of the Mooiplaats Colliery ("Mooiplaats") for a gross consideration of ZAR250 million (US$23.47 million) in cash. Upon fulfilment of all conditions precedent including the receipt of regulatory approvals consistent with a transaction of this nature, the consideration will be settled in two tranches, with the first tranche of ZAR150 million (US$14.084 million) expected to be received during the first quarter of CY2015. The second tranche of ZAR100 million (US$9.39 million) is payable on the earlier of 12 months from the payment of the first tranche or 30 November 2015.

Blackspear is required to provide CoAL with evidence of funding on or before 31 October 2014, with guarantees in form and substance satisfactory to CoAL by 31 December 2014, pursuant to which Blackspear will commence monthly payments from November 2014 of ZAR2.3 million (US$0.21 million) increasing to ZAR4 million (US$0.375 million) from February 2015 until such time that the conditions with respect to the first tranche payment are met.

Mooiplaats, the thermal underground colliery in the Ermelo Coalfield in the Mpumalanga province of South Africa, was deemed non-core by CoAL on 30 June 2013 and placed on care and maintenance from 1 October 2013.

The sale of Mooiplaats was one of two remaining priorities under the Company's five-point turnaround strategy. The final outstanding priority is to secure the funding of, and regulatory approvals for the wholly-owned Makhado coking coal project, located in the Soutpansberg coalfield, South Africa.

(1) (K2014118416) (PROPRIETARY LIMITED trading as Blackspear Coal.)

[bad robot] 22/9/2014 09:43

Need volume to keep flowing

[topinfo] 22/9/2014 09:41

Yep 4p+ today high likely. Look where its fallen from. News very good last 2 Rnses, 5.5p premium placing and this sale today. Turnaround is excellent

[bad robot] 22/9/2014 09:40

that 3.6p gets taken out we will see 4.0p bid

[bad robot] 22/9/2014 09:37

volume picking up

[topinfo] 22/9/2014 09:36

Looking great now

[bad robot] 22/9/2014 09:33

here you go 4.0p offer

[bad robot] 22/9/2014 09:31

melo

You do not know how mm work on this shares. It will boom boom now. I have been trading this shares for 2 years+

[bad robot] 22/9/2014 09:29

4.5p close today

placement was 5.5p

[bad robot] 22/9/2014 09:23

yes they are indeed moving in the right direction.

There's value in this share

[oggyrocks] 22/9/2014 09:16

Much more positive news after several years of disaster. Confidence must be building in management.

Never optimistic on this share, but hopeful now !!!!

They are moving in the right direction and doing what they say, which is fantastic.

[topinfo] 22/9/2014 09:07

5.5p placing last month at huge premium to share price and now this sale of asset this morning. Excellent opp here to take part in the recovery of CZA.

Turnaround story gathering pace now. Could be one hell of a bounce here at CZA

[melodrama] 22/9/2014 09:03

LOL m8 u need a lesson in charts

[bad robot] 22/9/2014 08:57

I still have my buy orders @ 0.30p

[melodrama] 22/9/2014 08:30

Big dump there, or MMs telling porkies, bid has moved though. Bought in first thing as chart looks like it has turned.

[ianio5691] 22/9/2014 08:00

All coming together nicely.
Got a good feeling about this one....

[patio58] 22/9/2014 06:10

Excellent news!