Conti.Coal Share Discussion Threads

[saikat] 13/2/2014 13:06

Don't like it Heed at all - how do you run a coal company without local miners? Can't believe Landau is back. Seems like they are playing the BEE game - there is a movement in South Africa to give BEE partner more than 50% in a company to get special favours from Eskom,Transnet, RBCT and other regulators - so Sioc-cdt will
finally control more than 50% of South African subsidiary. That is no bad thing to get the special favours (which can be significant) except that Sioc-cdt is a community development trust who cannot be miners.

[queenwood] 13/2/2014 13:01

is that the official length heed? :0)

[the heed] 13/2/2014 10:37

three months min suspension.. although looks promising??...

[queenwood] 03/2/2014 16:24

ile be glad if they dont lift the halt the way the markets are acting

[c31161] 02/2/2014 19:31

Wonder if the trading halt gets lifted tonight

[6kenny] 02/2/2014 09:53

Problem is coal prices are low and these mines are too expensive to run

[6kenny] 29/1/2014 19:52

Look at the cool price on advfn....already priced at 1.10p?

[c31161] 29/1/2014 19:47

I don't think now for one minute this is going to go under, also when this went into a trading halt in my opinion this was priced in to go into administration so I think the share price will rise when trading resumes.Well that's what I'm hoping.

[bam bam rubble] 29/1/2014 18:06

everyone can see they are going to raise $28m at AUS1c

That wouldn't be my reading of it. They need $28m to pay off creditors and have been given a 3-month 'stay of execution' to source finance. Sourcing investors for that much equity appears doubtful to me. If unable to pay them off by end April those creditors may then force the issue by applying to wind-up the company.

[stockonomist] 29/1/2014 14:22

LOL

c31161

8p to 0.5p (if he's lucky)

Nice to see a ramping mug punter get his comeuppance

[troutisout] 29/1/2014 14:22

c31161, I cannot see the price going up, when everyone can see they are going to raise $28m at AUS1c, half the price pre trading halt.

Trout.

[c31161] 29/1/2014 14:21

Says the shorter with many screen name stockonomist, stockologist, dontshoothemessenger,wheresthemugpunters,grannystuff and many others

[queenwood] 29/1/2014 14:06

and then a gradual recovery because of the comprehensive rescue plan :0)

[stockonomist] 29/1/2014 14:02

So headed for a 50% fall at least IF it re-opens

[queenwood] 29/1/2014 13:44

i hope it reopens positive c3, but its a big hope . maybe someone may step in and buy us out in the near future and sort the whole mess out. the assets are there plenty years of coal production etc. anyway its a whole lot better than the trolls were predicting :0)

[c31161] 29/1/2014 13:09

Queens do you not think this was priced for administration before the halt, also dropped 1p on low volume when don had to sell his shares, I'm hoping this reopens positive, not that I think this is good news I just think prior to the halt this was priced expecting the worst.

[queenwood] 29/1/2014 12:58

clucking bell very extreme but thats to be expected. if we can get over the initial shock ,then we still may get something out of this mess long term :

[c31161] 29/1/2014 12:43

Could the trading halt be lifted this week

[mhin2] 29/1/2014 10:58

Landau and OKAP are theives

[troutisout] 29/1/2014 09:55

c31161,
Not sure there will be an share price when it opens... the scale of refinancing is huge.

Firstly Empire are going to loan $5m and get $7.5m worth of notes for that, this $7.5m face value will be paid back in 4 months (should go to WONGA.COM, they might get a better deal. They can of course take shares in the company in lieu of the $7.5m at the right's issue price of $0.01.

Then on top of that they are going to be paid a 6% fee and 70m options (if the options are voted for by shareholders they will get $500k instead of the options) for the rights issue.

Financiers seem to be making a fortune from this as usual!

Then the rights issue, if I have it right they want to raise $28m at $0.01 that is half the current share price in Australia, but with 2.8billion shares to be issued to get $28m then you can see the size of the dilution, on top of that we have 70 million options and a possible 750m shares in lieu of the promissory notes.

From what I can see the dilution is extreme, we can of course discount the convertibles as debt after these go through and this has weighed heavily on the share price So A$0.01 is the rights issue price and being a rights issue I assume that shareholders will be able to take up those rights, so my guess is AUS1c is where they will head.

DYOR,

Trout.

[c31161] 29/1/2014 09:20

Trout where would you see the share price once this reopens just your opinion I know we don't have crystal balls