Share Name Share Symbol Market Type Share ISIN Share Description
Coal of Africa LSE:CZA London Ordinary Share AU000000CZA6 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 43.50 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
42.00 45.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -13.56 -0.59 860
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 43.50 GBX

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Date Time Title Posts
16/7/201911:14Coal of Africa - 2.3 billion tonnes of potential11,005
23/12/201319:29Coal of Africa7,179
08/1/201319:17Cole of Africa17

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boodgewoodge: 1.legacy issues put to rest 2.expanding balance sheet , cga delivering , increasing commodity price possibility of higher pricing of offtake agreements 3.only 2 more land rights to secure 4.further cost saving by delisting from? asx 5.share price that allows participation by fund managers and investment houses 6.second cga shortly , mentioned by Mr Brown more frequently at every public conversation 7.very likely sale of further non core assets (vele please ) shortly again spoke about more frequently by Mr Brown 8.funding, shorter time to production, offtake agreements being discussed and solid volume of high demand coking coal waiting to be disposed off. Then why would anyone pressurise the share price post consolidation? Consolidation being the quickest route to get the share price out of the penny range . Any ideas why the share price could possibly go south post consolidation with regard to this company specifically?
boodgewoodge: A very decent close but not encouraging enough volume,there seems to be ongoing selling pressure obviated by the large visible shares on offer, why anyone would want to dispose of their holdings in a company that has put their many albatrosses to bed permanently and is harnessing an upward channel is utterly bewildering except ofcourse the pic whom I assume has to raise funds for soe's bailouts and the disposal of their Telekom stake has not been well received so I am of the opinion that they might dispose of smaller under the radar holdings to be able to continue their bailouts without too much fuss , is the pic still a share holder of cza ? The consolidation should be deferred until after the disposal of vele and the successful completion of the second cga unless institutional policy really prevents them from participating in company's with share price at such levels, something I am unaware of ( please assist ) and the board is expecting a flurry of interest and an exponential rise in the share price from zar1000 to zar5000 there is absolutely no benefit to consolidate at these levels
2bozmo: Update from conversations with company:Firstly, the company are still shortlisting potential CGA's but are beginning preliminary due diligence in a couple of weeks on a company that fits the requirements and is affordable.Secondly, in answer to your question boodge, the company is equally frustrated with regard to the share price given what they've achieved. They are going to start marketing the company more. I can see their point that previously this was difficult with 'the sword of Damocles' hanging over them. I've noticed recently there seems to have been a more positive spin in the press so maybe DB's been on a charm offensive!Additionally, if they can either land a second acquisition or when they get Makhado going then they'll be a medium tier producer and have a lot more visibility and increase the profile of the company.They are aiming to get a better spread of institutional shareholders, which will help liquidity in the stock. Again I'm left positive, they seem to be doing the rights things and they are confident a rise in the share price will come. They're definitely getting there.
boodgewoodge: The one day of heavy volume around the middle of september would have coincided roughly with the board approving of the change of makhado to makhado lite. The exitement lasted exactly one trading session with a ttight lid on the upward movement. The sale of mooiplaats, and has that been an albatross, was met with no reaction of the share price or volume of shares changing hands. ANY hint of a rising share price is rapidly snuffed out with a bid being matched even with negligible volume followed by an increasingly large offer at a level just below the previous offer but not matching the equally large bid thereby depressing the price but not disposing of volume which they could , until the bidders take them out .generally sellers have time constraints and the share price would have been substantialy depressed, this share price is just being capped ! Why and by whom? What has happened to the RE RATING of cza that so much hype revolved around becoming a producer let alone all the other accomplishments achieved since RIO's settlement! Something is just not right about this share price
boodgewoodge: Extrapolating from DB's last banter that he does not forsee any further share dilution it would seem that the second acquisition would be funded from the proceeds of mooiplaats ( an albatross which if gains full flight on or before the 1st November should most certainly steer the share price in the right direction conversely if there is a delay or if this deal fails cza is a share we'd wish we've never held ) thus being of a similar size to uitkomst which together should be more than adequate to render cza fully self sufficient. Plan B to use the mooiplaats proceeds to help fund makhado then we just stumble on at these pitiful levels and continue drifting lower until the same comes on line hopefully by 2019. Come on Mr DB don't fail us in this final stretch : wrap up the second acquisition, dispose of vele (sensitive location ) , Godspeed with makhado!
boodgewoodge: A real positive picture and doesn't sound too much further to fruition, but this share price on the jse and the depth and volume thats on offer creates a scenario of a completely different company than the one DB and the board is steering quite rapidly and remarkably well out of an abyss! Surely they must be concerned of the market cap of their project and know full well the necessity to evoke interest and investment will be more easily achieved with an increasing valuation of their prodigy rather than a dwindling one. To not know who is keeping a lid and continous further devaluation of CZA should be adressed aggressively to keep the long comitted shareholders best interest as their best interest. It's just bloody ridiculous with all the hurdles that we've been waiting to remove tumble out of the way in such sequential and short periods of time dragging the share price down must be a concern to the board. I'd like to know who is responsible for this ongoing supresion of the value of this company
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."
channel pirate: Don't tell me that the Rio Tinto legacy agreement has not been a big drag on the share price, therefore I was expecting the market to mark the share price up a bit more than they have done at the moment. Maybe the mm's are hoping to get rid of a few "loose rocks" at a cheap price before they "adjust" the share price !!
2bozmo: If we wanted to pursue Universal then we could easily have extended deadline further. Possible outcomes:1) NCC cuts a short term deal with Eskom that will meet our 12-month requirements and meet AIM requirements. Eskom paying over the odds so deal could be made.2) we have a number of parties interested in Makhado, one of those (or someone else, eg. Ichor) provides working capital to meet AIM requirements;3) we forget Universal deal. The market didn't react when we announced the deal in November, a few London specs sold out today hence lower but more interested in buying dip on JSE which closed only 4 ZAr lower at equivalent of 3.90p;Remember this is a reverse takeover and we still have great assets in Makhado, Vele, Mooiplaats and GSP, which by themselves should be valued at more than the current share-price. Could argue the Universal deal has been holding back the current CZA share price given performance of thermal coal and dilution.I've met David Brown a number of times and trust him and management team. He's still confident today this deal gets done, and setting a deadline of 15th means management sit around the table and hammer something out. Yes we could have extended deadline and CoAL must have a reason. Yes, we would have had to have had another EGM to allow issuance of shares past 3 August deadline but is that such a hardship to get assets? Overall this fixed deadline isn't necessary a bad thing. Given the consolidation expected in this space, will this ultimately make us a takeover target?It's definitely going to be interesting next week.
casual47: Looking at PDF again they are talking about 34% stake in Baobab Mining & Exploration (Pty) Ltd, the subsidiary that owns the Makhado Project. So the question many pence in the share does Baobab Mining & Exploration (Pty) Ltd represent within the CZA share price?
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