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#1 soutie

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Posted 31 May 2018 - 01:53 PM

 I'm implying that the recipient of the shares was not in favour of the decisions taken at the time & sued he was then settled mainly in shares as WSL didn't have cash in those amounts lying around. The share price has never gone above R2 for any reasonable amount of time where the  market feels comfortable to buy in the say c220-240 area. My calcs are mainly from an armchair perspective but the share price does not reflect anywhere near what is evident now & what is possible in the mid term.

WSL NAV is around R2.17.... :rolleyes:


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#2 Bullhunter

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Posted 31 May 2018 - 11:06 AM

 

For the acquisition of the 30% [source]

Quote

So except if I'm missing something those shares are freely tradeable?

 

The secondary acquisition (pending) has some limits, but it doesn't seem so bad:

Quote

 

This is the overhang that needs to wash through...

 

Are you saying that the vendors are offloading or will off load their total of 16 million shares?


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#3 soutie

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Posted 31 May 2018 - 09:37 AM

SENS 2014/06/24

 

On 26 November 2013 Wescoal Mining acquired 30% of the total issued share capital of Proudafrique from
Minoscape for R18 million.

A circular was issued to Wescoal shareholders on 9 June 2014 in respect of the acquisition by Wescoal Mining
of the remaining 70% of the total issued share capital of Proudafrique from Minoscape for R25.6 million and a
royalty fee of R3.50 per ton of saleable coal mined at the Elandspruit Mining area. The circular contained a
notice of meeting to take place on 14 July 2014, at which shareholders will be requested to approve the
transaction.

 

For the acquisition of the 30% [source]

Quote

Terms and conditions of the First Minoscape acquisition
On 26 November 2013, Wescoal Mining agreed to acquire 30% of the total issued share capital of 
and all its claims against Proudafrique from Minoscape for R18 million. The purchase price paid 
was as follows:
4.2.1 R13 million by the issue of 6 500 000 Wescoal ordinary shares at 200 cents per share, within 
30 days of the First Minoscape effective date;
4.2.2 R3 million in cash payable within three days of delivery of the seller’s share certificates in 
respect of the sale shares;
4.2.3 R1 million payable on 1 February 2014;
4.2.4 R1 million payable on 1 March 2014; and
4.2.5 the seller gave certain warranties that are customary in a transaction of this nature.
All conditions precedent to the First Minoscape acquisition have been fulfilled, it became effective 
at the end of November 2013.

So except if I'm missing something those shares are freely tradeable?

 

The secondary acquisition (pending) has some limits, but it doesn't seem so bad:

Quote

Terms and conditions of the Second Minoscape acquisition
On 26 November 2013, Wescoal Mining agreed to acquire the remaining 70% of the total issued 
share capital of and all its claims against Proudafrique from Minoscape for R25.6 million and a 
royalty fee of R3.50 per ton of saleable coal mined at the Elandspruit Mining Area, payable as 
follows:
5.2.1 R20.0 million of the purchase price will be paid by the issue of 10 000 000 Wescoal ordinary 
shares at 200 cents per share, within 30 days of the Second Minoscape effective date;
5.2.2 R5.6 million in cash, within three days of the Second Minoscape effective date, payable 
from existing cash resources;
5.2.3 in addition, Minoscape will be paid a royalty of R3.50 per ton of saleable coal mined at 
Elandspruit Mining Area, which royalty will escalate annually with the published producer 
price index, payable from existing cash resources, as long as mining takes place;
5.2.4 Minoscape shall not during the first 12 months following the issue of the 10 000 000 shares 
by Wescoal to Minoscape, directly or indirectly sell more than 200 000 shares during any 
calendar month;
5.2.5 Minoscape shall not during the second 12 months following the issue of the 10 000 000 
shares by Wescoal to Minoscape, directly or indirectly sell more than 500 000 shares during 
any calendar month; and
5.2.6 the seller gave certain warranties that are customary in a transaction of this nature.

 

This is the overhang that needs to wash through...


Edited by soutie, 31 May 2018 - 09:40 AM.

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#4 Bullhunter

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Posted 30 May 2018 - 07:11 PM

It'll get moving northwards only once 10-12million have changed hands around the R2mark in my estimations.....so far maybe 3million has...

That will require institutional support - in total they own 3.7% versus 4.8% of Exxaro.   To take them to par with Exxaro requires another 1.1% which is an additional 5 million shares. Hopefully the results will make them sit up and take notice. 

 

Been steady to rising on two bad market days which is a good sign.


Edited by Bullhunter, 30 May 2018 - 07:14 PM.

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#5 soutie

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Posted 30 May 2018 - 02:32 PM

What is the catalyst that gets this share moving ?

 

Earnings are impressive, valuation is extremely reasonable, coal prices have been favourable and with Moabsveld, there is opportunity to grow production with little capex.

 

Yet, share price meanders around the R2 mark.

It'll get moving northwards only once 10-12million have changed hands around the R2mark in my estimations.....so far maybe 3million has...


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#6 Bullhunter

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Posted 29 May 2018 - 12:02 PM

What is the catalyst that gets this share moving ?

 

Earnings are impressive, valuation is extremely reasonable, coal prices have been favourable and with Moabsveld, there is opportunity to grow production with little capex.

 

Yet, share price meanders around the R2 mark.

Read Keith McLachlan's opinion here:

 http://smallcaps.co....miner-grows-up/

 

I am accumulating at these levels.


Edited by Bullhunter, 29 May 2018 - 12:03 PM.

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#7 icassim

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Posted 26 May 2018 - 01:21 PM

What is the catalyst that gets this share moving ?

 

Earnings are impressive, valuation is extremely reasonable, coal prices have been favourable and with Moabsveld, there is opportunity to grow production with little capex.

 

Yet, share price meanders around the R2 mark.


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#8 soutie

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Posted 22 May 2018 - 04:16 PM

Posted 03 February 2017 - 08:32 AM

 

If Mr Market gets behind this Whoooooosh..................!

 

De-Ja Vue my side.


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#9 Bullhunter

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Posted 22 May 2018 - 11:55 AM

Worth looking at. You don’t get all too many profitable, growing shares on a 4x PE!

 

Fair value =R3.34

Following earnings update, fair value =R3.79


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#10 Bullhunter

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Posted 12 February 2018 - 12:49 PM

Worth looking at. You don’t get all too many profitable, growing shares on a 4x PE!

 

Fair value =R3.34


Edited by Bullhunter, 12 February 2018 - 12:49 PM.

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#11 purply

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Posted 08 February 2017 - 02:07 PM

What news are we talking about?
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#12 soutie

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Posted 08 February 2017 - 10:37 AM

Biggest news in ages fumpty 100's viewed no comment..... :unsure:......Bye Bye....


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#13 soutie

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Posted 06 February 2017 - 01:49 PM

Picked up 60,000 KEH at an av 162c  


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#14 soutie

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Posted 03 February 2017 - 12:49 PM

Are we overpaying...? Me thinks that we is.....But by how much....Conference call just confirmed power point presentation on their website. Can't get passed giving them our shares @ R2 & paying 30 day VWAP for theirs...... :wacko: 

 

They must really wants it like really wants it...! Me still thinks it's win win though..... :)  


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#15 soutie

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Posted 03 February 2017 - 08:32 AM

BEEEEEG news out today guys & Gals.....all comments welcome..... :D

 

If Mr Market gets behind this Whoooooosh...................!


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#16 soutie

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Posted 13 January 2017 - 10:22 AM

Yesterdays update....

:) ....Nice.....


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#17 soutie

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Posted 03 January 2017 - 10:20 AM

Today's announcement by Exxaro could have a nice upside for WSL being only 51% black OWNED coal miner/supplier on the JSE.......wishful thinking yeah I know...but also hard fact.


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#18 soutie

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Posted 07 November 2016 - 05:19 PM

Well yesterday we had Peregrine telling us they have gotten 5% of WSL, are they viewed as astute asset managers....?.....don't know much about them....Now today's SENS confirming what I  was hoping for......Ahhhhh......nice...

 

I is not fully convinced that we is here to stay cos me thinks the Minoscape party has already sold his quota for the month already.....so early in Nov we should get some idea of his appetite for WSL at these levels.....

Enjoy....R2+ may it continue.

Hmmmm......!


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#19 Geko

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Posted 20 October 2016 - 12:30 PM

http://www.mineweb.c...coal-different/


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#20 soutie

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Posted 19 October 2016 - 09:17 AM

Well yesterday we had Peregrine telling us they have gotten 5% of WSL, are they viewed as astute asset managers....?.....don't know much about them....Now today's SENS confirming what I  was hoping for......Ahhhhh......nice...

 

I is not fully convinced that we is here to stay cos me thinks the Minoscape party has already sold his quota for the month already.....so early in Nov we should get some idea of his appetite for WSL at these levels.....

Enjoy....R2+ may it continue.


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