Coal of Africa Share Discussion Threads

[boodgewoodge] 05/10/2015 15:19

thanks , will start paying more attention to these announcements from now on . did DB also speak about Yishun putting in 400$ for the Makhado project at the same meeting ?

[2bozmo] 05/10/2015 11:30

Boodge, timeframe was given by David Brown at EGM. Not just to me but in his address so public knowledge

[boodgewoodge] 05/10/2015 08:27

thanks , how do you know about Yishun and the due dil time span of this week ?

[2bozmo] 05/10/2015 07:38

Don't think that means huge amount to us at present. Instead, we're waiting for a few things here:From EGM water license due over the next couple of months, slightly delayed due to fact that having hold authorities hand throughout process but will be granted. Absolutely no issue.Mooiplaats - 3 parties interested. Expect complete by end of 2015.Thirdly, given strength of balance sheet and being cash rich, CZA looking to acquire asset that will be a cash generator and improve balance sheet further. Given decline in commodity a lot of cheap assets that can potentially pick up. Yishun were due to complete due diligence this week as part of overall investment of $400m into Makhado. Equity stake just first part of deal. Commodity hysteria seems to have dissipated, Glencore and assets bouncing. Few cut backs in copper etc. definitely a lot of potential great news here on macro and micro level. And happy to add here on any dips!Good luck

[boodgewoodge] 04/10/2015 18:43

the coal workers strike has commenced in sunny south africa .... Any idea when was the last coal workers strike and how long did that one last ? The Singaporeans are in , the Chinese are in , we've been diluted on a couple occasions , Our bank balance has surely swelled compared with a year ago , just short of that water license and that all important disposal of mooiplaats !! Any ideas on the time span for either of these CHALLENGES (south african colloquialism at its very best if I may say so myself !) we're faced with ? And why the hell can't we keep drifting upwards instead of testing our all time lows ????

[2bozmo] 29/9/2015 05:35

Trading at 0.09 AUD or 4.12p. Something we should know?

[channel pirate] 14/9/2015 11:02

2bozmo - thanks for the feed-back. Let's hope the information coming out of the company to support / increase the share price is a little more frequent from here on in.

Have been holding CZA shares now for nearly 8 years, so time for a bit of "pay back". Have averaged down from 157p+ to under 10p, and don't want to buy anymore.

[2bozmo] 14/9/2015 10:15

Very brief notes on this mornings EGM:Front: David Brown (CEO), Bernard Pryor (Chairman) and De Wet Schutte (CFO). Also present: 2 private investors and analyst/ journalistMotion was passed without any fuss very quickly. Other investor asks what expect from Yishun as investor:Yishun investing in Makhado investment on project level in 3 levels:1) Equity;2) Provision of debt;3) EPC;Expect to complete their due diligence in 2-3 weeksPotential invest $400m in projectSlowdown in China means negotiation potentially be tough. Would expect negotiations to conclude agreement by March 2016.This investment was first step and means of getting something on the board.David Brown and CFO also gave me 20-mins to answer questions afterwards:Now have a strong balance sheet can look at making acquisitions to generate a positive cash flow. Some very cheap potential targets.Mooiplaats sale will get done. 2 of potential buyers fulfil 51% BEE criteria so may have potential agreement with Eskom, which will make profitable. As well as Yishun there's other investors out there on project basis. Gave a couple of names that I can't mention.Few other bits that were positive re: mittal, rand etcCame out feeling very positive. Things definitely moving in right direction

[boodgewoodge] 14/9/2015 08:39

the sale of mooiplaats is going to drive this , water license a bonus , the singaporeans a formality , mooiplaats the catalyst this needs ....... QUANTUM leaps DB not too long ago once said !!!!

[2bozmo] 14/9/2015 08:12

Yes, that was results. General meeting at 10 today that will approve Yishun investment.

[boodgewoodge] 14/9/2015 07:45

was that not the results ? if not what was that call for ?

[2bozmo] 10/9/2015 20:26

Don't know if anyone listened to it but presentation on website and conference call can be replayed. Very positive outlook, worth a listen:Mooiplaats - 3 parties interested at various stages and hope to have finalised by end of year;Water license - hopefully in next couple of monthsYishun investment - looks like being approved on Monday.So potentially have $65m cash when above concluded. Full steam ahead. Difficult environment but thriving.Good luck everyone

[2bozmo] 08/9/2015 18:55

Results Thursday. Hopefully get green light for IWUL then.

[seagreen] 25/8/2015 08:11

Our friends from Asia are about to inject at 5.15p but wtfdik


ANNOUNCEMENT 14 August 2015

Despatch of Notice of General Meeting

Coal of Africa Limited ("CoAL" or "the Company"), the coal exploration, development and mining company operating in South Africa and traded on the ASX, AIM and JSE (ticker 'CZA'), announces that it has dispatched its Notice of General Meeting and accompanying proxy forms for the meeting to be held at 10am (BST) on 14 September 2015. The documents have been posted to shareholders and are available on the Company`s website www.coalofafrica.com. As previously announced, the Extraordinary General Meeting ("EGM") is being held to consider and, if thought fit, approve the issue of up to 183,231,261 new shares in the Company at an issue price of GBP0.0515 per share for an aggregate gross consideration of approximately GBP9.4 million (approximately US$14.7 million), which is currently held in escrow.

The shares are to be issued to Yishun Brightrise Investment PTE Limited ("Yishun"). Yishun is a private investment company with a focus on mineral investments and has interests in coal and nickel in both China and Indonesia and will via this transaction expand its investments into Africa.

The meeting will be held at:

Tavistock Communications, 8(th) Floor, 131 Finsbury Pavement, London, EC2A 1NT.

[2bozmo] 07/8/2015 11:14

Filled the gap in Johannesburg and London. Now back up.

[nash81] 07/8/2015 09:57

does anyone know how soon DMR SA will usually approve mining licence? CZA got it recently and now JLP is waiting for its platinum licence.
JLP saying should be anyday but how reliable is DMR in keeping in the 30days guideline? anyone here got any idea?

[2bozmo] 05/8/2015 13:46

Great start to August, potential later this month could have:Mooiplaats saleWater license

[casual47] 05/8/2015 13:11

Yes, agreed on that.

Not only raising money at a premium but an interest free $10 million loan without any warrants? How is that even possible. I am rubbing my eyes.

That's quite some clout the CZA BOD has demonstrated.

[2bozmo] 05/8/2015 11:51

agreed. still an impressive achievement raising money in this environment

[casual47] 05/8/2015 11:41

Current Total Issued Shares: 1,743,568,613

Shares to be added via subscriptions: 183,231,261

Issued shares after subscription: 1,926,799,874 ==> DILUTION

So after subscriptions the Singaporians will hold around 9.5% of the total issued shares.

[casual47] 05/8/2015 11:36

That's a completely different thing, clearly.

In that article he is talking about how they will be funding Makhado, which will be about half a billion USD and that it won't be via dilution.

What we have today is not going to be used to fund Makhado but to do the prep work and day-to-day operational stuff.

Sorry, but you've got it wrong here.

Today's news is for sure 100% a dilution.

[2bozmo] 05/8/2015 11:29

I've asked the question to company. I see where you're coming from....

[casual47] 05/8/2015 11:17

Perhaps I am missing something obvious but reading the RNS again this appears a straightforward subscription, i.e. a placing. Do you have a link to the DBrown comment?

As far as I know they are not holding any shares in treasury?

[2bozmo] 05/8/2015 10:53

free float isn't total issuance so 183m can be released thereby not affect dilution (as per previous comments by David Brown)