Mwana Africa Share Discussion Threads

[juju44] 03/3/2015 07:50

Good news . Maybe see a bit of lift in share price now although a lot of expectation already in the price . Nickel bear market unfortunately not much help

[undervaluedassets] 03/3/2015 07:48

Not sure that the market was 100% confident about the bond LuckyP.

I think the market was extremely nervous about it in truth.

Why make such a fanfare of the the announcement else. . The successful placing of this bond is deeply important

[lucky punter] 03/3/2015 07:44

undervaluedassets it was an absolute no brainer that this bond would be filled. It was 75% filled more than a week ago. The smelter restart will be another 9 months before the concentrate switches from the glencore deal to in-house production to refinery ready Cathodes. The next step is to restart the refinery which will be the task for 2016 I don't doubt. At low Nickel values the impact is not huge but at higher Nickel values profit will be massively enhanced.
Great news and a reason to be cheerful today given the opportunity at hand in this share price

[bump3r] 03/3/2015 07:33

Excellent news.Just need the nickel price to balloon from the doldrums now.

[gwr7] 03/3/2015 07:22

Raising $20m on reasonable terms in Zimbabwe in the current climate is a noteworthy achievement. The working smelter on its own will be worth more than the current market cap.

[undervaluedassets] 03/3/2015 07:11

was it something I said . . .

ten minutes after my last post . . announcement of by MWA of successful bond placing.

well . .

[undervaluedassets] 03/3/2015 06:51

The languishing share price is telling us (as much as anything) that the bond is not a done deal.

Seeing that the smelter that the bond is funding is likely to have a transformational effect on profitability - ...

It seems not unreasonable to assumne that should they get the bond away successfully we could see some very sharp gains here.

hmm

[lucky punter] 02/3/2015 20:53

One of Dearing's demands at the AGM was that Botha be rotated out of his post. That would require a majority vote at the meeting.
He said he was representing shareholders. I was there and he was not representing me.

We should hear about the bond very soon. The applicants will have their notes dispatched tomorrow and at that point we can be notified of the outcome of the bond.

[bump3r] 02/3/2015 20:02

Who has he got backing off to call the meeting.It can't be the Chinese as there votes don't count in shareholder votes.Doubt he's got 15% of PI's together.Don't think its an Insti as they would call it themselves and non have over 15%.Strange one.

[lucky punter] 02/3/2015 15:03

He is an ambulance chaser and was there drumming up business. I think we should be quite relaxed about it as they have already addressed the lack of rotation by appointing two new members.

[odvod] 02/3/2015 14:40

He is just a catalyst

[gfrae] 02/3/2015 14:39

If that's right then I think he owns about 15 shares and is an ambulance chaser. Wouldn't he require a minimum %age to call an EGM,surely he'd need at least 15%?
Not so sure it was staged,I thought he was looking for disgruntled shareholders to support him-looks like he may have found someone?

[lucky punter] 02/3/2015 14:00

Ian Dearing was the Yorkshire man at the AGM who was trying to challenge the board over the rotation of non execs. He made a big show of not knowing the Ning but it was quite evident that all was staged. He claimed to represent shareholders and constantly interrupted.
Ultimately the company now have more non execs however Ning has opposed them. Under what grounds I do not know but I suspect maybe they are too African and not enough Chinese. All nonsense.

[juju44] 02/3/2015 12:48

Looks like some of the disgruntled have finally given up on the pis4 poor management performance and are attempting a shake up.No doubt for their own ends but has to be a plus given the lack of achievement and endless excuses here

[odvod] 02/3/2015 12:44

Looks good for some action on the upside

[bump3r] 02/3/2015 12:13

Who's Ian Dearing ?

Section 303 of the companies Act 2006

303Members' power to require directors to call general meeting.



(1)The members of a company may require the directors to call a general meeting of the company..
(2)The directors are required to call a general meeting once the company has received requests to do so from—.
(a)members representing at least [F15%] of such of the paid-up capital of the company as carries the right of voting at general meetings of the company (excluding any paid-up capital held as treasury shares); or.
(b)in the case of a company not having a share capital, members who represent at least [F15%] of the total voting rights of all the members having a right to vote at general meetings..
(3)F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
(4)A request—.
(a)must state the general nature of the business to be dealt with at the meeting, and.
(b)may include the text of a resolution that may properly be moved and is intended to be moved at the meeting..
(5)A resolution may properly be moved at a meeting unless—.
(a)it would, if passed, be ineffective (whether by reason of inconsistency with any enactment or the company's constitution or otherwise),.
(b)it is defamatory of any person, or.
(c)it is frivolous or vexatious..
(6)A request—.
(a)may be in hard copy form or in electronic form, and.
(b)must be authenticated by the person or persons making it.

[lucky punter] 02/3/2015 05:48

Bindura Nickel will notify the participating institutions today if they have been successful in participating in the bond to restart the smelter. The bond notes will be dispatched tomorrow. I suspect BIND.ZW will notify the market today or tomorrow. As of the 20th February the bond was 75% populated so in all likelihood the bond will be oversubscribed. What will the market make of this?

The smelter is largely complete now with most of the technical work done. The furnace brick lining arrives in the next few weeks and installation will take weeks. I suspect we will get a definitive schedule in the very near future as test cycles begin. Bindura has had a $6-7m equipment upgrade at the mine and reliability and efficiency should be massively improved over the next six months. Of course it will all take time to bed in and we can expect some technical challenges but when all is complete the Nickel side will be in strong profit.

[lucky punter] 27/2/2015 23:03

WS I think the case will be solid 18 ct gold so 2 troy ozs of 99.99% will make 2.5 troy ozs of 18ct. That will make the watch the size of a credit card and 10-15mm deep and 5mm thick which will look pretty crazy.
I think we have to accept any additional gold demand as valuable when you own part of a gold miner. If only the plan to get to full production works out and we get a bit of help from gold values and gold alone can profit by this market cap every year.

[wstirrup] 27/2/2015 22:53

... oops DP (NO... Double Post, not Double Penetration - What were you thinking?

;¬)

W.

[wstirrup] 27/2/2015 22:50

LP... Re the Apple and Gold issue, I thought that was nonsense too...

There might be 1 or at most 2 grammes (gms) on the watch (if plated) but 2oz?

What dope was the journo smoking?

Gold, being the amazing material it is, can be beaten to less than the thickness of a human hair, and even a small portion can be spread over a fairly large surface... Anyone who thinks otherwise ought to come and see the Town Hall Gates of Warrington - They don't call them "The Golden Gates" for nothing...

Formerly designed for HM Queen Victoria, she didn't like them apparently - perhaps a bit too ostentatious during her dark period perhaps, anyway, the local big-wig got wind of em, and thought - "they'll go really nice on't front Garden"

And the Town got them sort of like a Xmas present, where someone buys you a car without you even asking for one, and you're forced to pay for tax, insurance, and fuel just to keep it out the front of the house. ;¬)

Anyway, It would still add up to quite a bit, but not the amount quoted.

Still, if anyone took the time to watch the Mike Maloney video, - he's quite amusing too - they'll realise the extent to which the future is destined to be a wave - much like the 1970s but bigger - MUCH BIGGER!!!

And Derivatives will be the Death of us... (So Says Brooksley Born - who gets a mention HERE and who from August 26, 1996, to June 1, 1999, was chair of the Commodity Futures Trading Commission (CFTC), the federal agency which oversees the futures and commodity options markets.)

W.

[mreasygoing] 27/2/2015 21:14

Makes sense now. I thought for a minute that some African was butchering our language with meaningless words.

[gwr7] 27/2/2015 20:00

It's the handing over of assets from the competent to the incompetent.

[lucky punter] 27/2/2015 18:01

I wonder if Metallon are looking at ZK where MWA have 3 m ozs in the ground and Kalaa expects the total discovery to be 10m ozs.

"Metallon is also planning to develop two new projects – Motapa and Midwinter – as well as some mines in the Democratic Republic of Congo and Tanzania.

The company also sees production rising to 150,000oz this year from 98,000 oz last year. Metallon’s debt currently stands at $19 million.

Commenting on the indigenisation and empowerment regulations, the company said it expects government to approve its partial compliance plan this year.

Under the proposed plan, the company will cede 30 percent divided equally among an employee share scheme, local communities and the National Indigenisation and Empowerment Board".