Conti.Coal Share Discussion Threads

[cyberbub] 07/8/2013 13:13

Today's 2.12p trades are sells... encouraging to see them being soaked up... I can sell a lot more than that, also at 2.12p....GLA NAI

[cyberbub] 02/8/2013 18:19

Interesting... people having to pay top dollar for 100k shares...

[cyberbub] 02/8/2013 00:26

ihavenoclue, check out the RNS it's on ADVFN, it says they can choose to take their fees in shares at the prevailing price, unfortunately not 7p this time...

Not sure why they couldn't have reduced the admin costs last year in exactly the same way, and not this year??

IMO the IMS was "steady as she goes". Encouraging that the net working capital position is reported to have improved. The problem is the debt hanging over the parent company, and the convertible loans due repayment in the coming months.

What we really need is:

(a) sale of some of the non-core assets ASAP - if the convertibles can be paid off then that will prevent significant dilution at these levels... Some of the non-core assets have millions of tons of resources and must be worth $0.50-$1 per ton surely, even at early development stages?

(b) an offtake agreement for De Witt that will allow it to start open cast production at zero cost to Conti.

(b) a modest rise in the export coal price. Even $5 a ton would make an appreciable difference.

I genuinely think that it will not take much good news to see us back over 3p.

Will we get it? That's the risk I suppose!

GLA NAI

[ihavenoclue] 01/8/2013 23:33

Starting to think they should change the epic from COOL to GLACIAL ;)

[ihavenoclue] 01/8/2013 23:32

cyberbub 1 Aug'13 - 10:40 - 3751 of 3753 0 0

Another announcent, this time massive reductions in admin costs for the financial year just finished. And a non-exec director has left. The remaining directors will take their fees in shares.

==========================

Is that at 7p a share ?

[greglt82] 01/8/2013 16:00

Conclusion: Turkey's don't normally vote for Christmas and in this case the turkeys are definitely trying to delay the day when they get cooked. Thankfully export coal prices are not as bad as feared despite new US export coal competition and Japan's return to nuclear power. The higher price contract for 25% of Penumbra's export coal at $118/t is also a blessing. The company cost base was threatening to sink the business relatively quickly while restructuring and slashing the head office costs may serve to delay the need for additional financing if production costs rise in South Africa then Christmas may come sooner for these turkeys than they imagine. -

[cyberbub] 01/8/2013 10:40

Another announcent, this time massive reductions in admin costs for the financial year just finished. And a non-exec director has left. The remaining directors will take their fees in shares.

[the heed] 01/8/2013 09:00

Production figures?

[c31161] 01/8/2013 08:20

Continental ROM output ahead of budgeted levels
By StockMarketWire | Thu, 1st August 2013 - 07:54
Continental Coal run-of-mine production at the Vlakvarkfontein and Ferreira coal mines were in excess of budgeted levels during the final quarter of the 2013 financial year.

Underground development at the Penumbra coal mine during the quarter focused on providing access to the main ventilation shaft, with additional geotechnical work completed to allow ROM production to increase further to the planned 63,000t/month steady state production levels in the current quarter.

During the quarter, no lost time injuries were reported at any of the company's mining and processing operations or development projects. The rolling 12 month LTIFR as at 30 June 2013 was 3.24 and had reduced from 4.28 as at the end of the previous quarter.

[greglt82] 01/8/2013 08:08

What do we think of the update ? Certainly hasn't excited oz or UK

[c31161] 31/7/2013 23:54

Quarterly report out in 20 mins

[cyberbub] 31/7/2013 23:02

That's a very interesting find C11361!

6000 crore rupees is a billion dollars.

Would be great if it we got news of a Botswana JV with the Indians soon... $20-30M in the bank for giving up 75% say? They are massive targets.

NAI

[c31161] 31/7/2013 22:07

An Indian coal ministry official has indicated that state run company, Coal India Ltd. (CIL), is looking to acquire international assets in Australia and Botswana.

The company is currently examining three proposals from Australian companies and has created a corpus of Rs 6000 crore for acquisitions.

"Coal India is examining three proposals from Australia. It has siged non-disclosure agreements with three firms and the proposals are at the level of board sub-committee," the official said.

Earlier in 2013, CIL invited birds for acquiring assets abroad, in a move that would help meet potential coal shortages as the company struggles to enhance its output.

CIL is also looking at a government-to-government arrangement in Botswana, whereby the company would acquire, develop and operate coal blocks and then export the produce to India.

The proposed partnership is understood to be of similar ilk to that of CIL's bilateral partnership with Mozambique, as per which the company secured two blocks in the country's Tete province, with reserves estimated to exceed 1 billion t.

"CIL is exploring a government-to-government deal. It is quite interested in owning coal blocks in Botswana that has about 200 billion t of coal reserves," the official said. "However, the company needs to ensure adequate infrastructure availability for exports from Botswana, as it is a landlocked country."

Dipesh Dipu, partner at Jenisse Management Consultants, said Botswana was being a considered as an investment opportunity by many countries as it has one of the largest coal reserves in Africa.

"The only concern is that country is landlocked. Distance to both the East Coast and the West Coast from Botswana is likely to be in excess of 1500 km. Moreover, there is no rail network at present. If such infrastructure is made available, it is definitely a good proposition," Dipu said.

[cyberbub] 29/7/2013 22:47

Interestingly, the ASX price appears to have just broken out of the down-channel since January - but the AIM price has not done so... yet.

NAI

[cyberbub] 29/7/2013 11:08

Yes, 4c is about 2.5p.I would expect the UK bid price to move up to 2.25p shortly, if the Aus correlation is to be maintained.Volume still low though.NAI

[troutisout] 29/7/2013 09:08

notready,
Calm down a little, rise in Aus is all well and fine, but the spread was really 2-2.5p on Friday, you couldn't buy more than 10k at 2.25p and if you wanted to buy 100k you had to pay a similar price to this morning.
MMs here can't be bothered as there is no volume, every other one of them has sat there with a wide spread, it is only CFEP that has been making an offer and last Friday that was in show rather than substance.

Trout.

[notready] 29/7/2013 09:00

It's not 'all that has happened', it is in response to the rise in Aus.

UK price should be c2.5p mid, but because of spread, 2.5p offer is understandable from mm point of view.

[troutisout] 29/7/2013 08:42

Unfortunately all that has happened is the MM that sat at 2.25p offered on Friday, but wouldn't sell any at that level, has now moved up. There is still no buying, I think we need some News for that.

Trout.

[greglt82] 29/7/2013 08:33

Nice to see this blue on AIM - will be interesting to see what happens with a few trades

[c31161] 29/7/2013 08:32

Looks like a bit of good news and this could fly