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Wescoal (WSL)


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#181 Mr_SA

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Posted 31 August 2015 - 02:05 PM

I dont understand why this share is staying so depressed?

What is the share waiting for?


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#182 Mr_SA

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Posted 27 August 2015 - 02:18 PM

WSL @ 130c today

 

Yeah... FML


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#183 Mr.Balls

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Posted 27 August 2015 - 01:01 PM

WSL @ 130c today


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#184 soutie

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Posted 06 August 2015 - 03:51 PM

Re: Today's SENS....Wishful thinking on my part....Here's hoping that Nedbank become represented at board level...One of their analysts was asking governance related questions at the investor roadshow much to the dislike of Ms Van Galen or maybe she just wasn't prepared adequately..?


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#185 Mr_SA

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Posted 06 August 2015 - 02:17 PM

ha ha, good call there Queen B, i should have done the same  :angry:  :angry:  :angry:  :angry:  :angry:


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#186 Queen B

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Posted 06 August 2015 - 02:03 PM

And PS: Had an offer in at R1.50 was surprised I got them at R1.37


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#187 Queen B

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Posted 06 August 2015 - 02:02 PM

Flash in the pan drop mate

Got some at R1.37 and out at R1.50 again. Made a few bucks in the madness :D


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#188 Queen B

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Posted 06 August 2015 - 10:44 AM

No SENS or any news I can see

Might just be desperate seller needing to offload


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#189 Mr_SA

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Posted 06 August 2015 - 10:32 AM

WSL taking a beating today... Any idea why?

Dammit, i just want the share to go to R2 and then sell. Over the stress of WSL.


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#190 soutie

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Posted 29 July 2015 - 10:31 AM

Morning Geko

Yeah you're quite correct in that they can supply in the interim, I doubt at full price, while they sort out the 51% black ownership issue.

The uncertainty is how do they sort that out. From what was said at the investor road show & results presentation Eskom will purchase their coal but only on short term 12-18mth contracts the longest that they have I think is 5yr from Khanyisa & Intabane hence the acquisition of adjoining properties.

Selling to Eskom on any new contract is subject to being 51% black owned all existing contract terms still stand.

Basically Wescoal is wanting a life of mine contract with Eskom for Elandspruit which is there for the taking as long as they conform to Eskom demands. So now how do they get to 51%....That's the drag on the share price now.....I'm sure there is still strained negotiations behind the scenes for us minorities to get better representation at board level just gotta wait for the AGM now that's the next opportunity for us to get answers to our questions.

Maybe you already know all this but it's all I got the rest is pure conjecture on my part. 

Have a good day further.  ;)


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#191 Geko

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Posted 29 July 2015 - 10:06 AM

Re: Today's SENS

Especially like the comment detailing start up on time & within budget  :)

Hi Soutie,

 

I would have expected the price to move a bit on the back of this, the successful wage negotiations etc... Or is the big concern still whether they can actually sell this product - namely the Eskom contract? If someone understands this a bit better please provide some detail. I thought that they had been given time to sort this BEE percentage out and they could supply in the meantime or is this not the case?


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#192 soutie

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Posted 29 July 2015 - 09:40 AM

Re: Today's SENS

Especially like the comment detailing start up on time & within budget  :)


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#193 soutie

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Posted 09 July 2015 - 04:41 PM

Appointment of mining contractor for Elandspruit Mine

WESCOAL HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/006913/06)
JSE Share code: WSL ISIN: ZAE000069639
("Wescoal” or “the Company”)

Appointment of mining contractor for Elandspruit Mine

Wescoal Mining Proprietary Limited, a subsidiary of Wescoal Holdings Limited, has appointed
Diesel Power Open Cast Mining Proprietary Limited as the mining contractor for its new
Elandspruit Mine in Mpumalanga. Mining activities have commenced and Elandspruit will produce
its first Run of Mine during July 2015. The mining division is on track to produce approximately
three hundred and thirty five thousand tons of Run of Mine per month during the final quarter of
the current financial year. This is equivalent to approximately four million tons of Run of Mine on
an annualised basis.


9 July 2015
Isando

Today's SENS good news me thinks... :)


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#194 jacani

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Posted 09 July 2015 - 09:15 AM

Of interest to Wescoal investors....

 

http://www.moneyweb....ls/wescoal-tbc/

 


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#195 soutie

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Posted 26 June 2015 - 09:39 AM

@Soutie,<br />I'm going to use your 3day rule here

Is that your vote of confidence @ 153c


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#196 soutie

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Posted 26 June 2015 - 09:37 AM

This is one of the key issues surrounding Anglo's refusal to kick start their Key Largo coal project, which is specifically set up to supply Medupi throughout life of mine.

The DMR regulations when coupled with Eskoms regulations creates an area of stupidness 26% black owned to mine 51% black owned to supply Eskom. So what does this really do IMO it creates an opportunity for another entity to provide a black service in this case at the expense of the tax payer. WSL don't have the resources nor the spare cash lying around to make this happen so they have committed their intent to Eskom & are winging it in the meantime hence market uncertainty. So stated already here they need the Eskom long term contract to boost their future earnings & release approved funding but Eskom are playing hardball at the moment.Catch 22. So if Zuma/Rob Davies wishes to create a new era of black industrialists Mr Ramite is right there front & centre. Yes frustrating isn't it.....


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#197 Mr.Balls

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Posted 25 June 2015 - 03:43 PM

How can they possibly determine the % black shareholding, if it doesn't state on your share certificate what your race is, so they want a major BEE partner together with the Director at 51%?? Who says WSL isn't already 51% black owned, this is so stupid from ESKOM, they should rather focus on providing electricity in the first place and then on their suppliers BEE scorecard. Mr Ramite, just go buy a watch at Cartier and give the ESKOM manager a present, much easier.


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#198 soutie

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Posted 25 June 2015 - 09:40 AM

If Wescoal is currently at 31% BEE (not sure if they counted my shares ) and needs to get to 51% to unlock Eskom contract, how will they get there?<br />Are we possibly in line for rights issues or will the chairman simply keep buying on open market?

That's the uncertainty surrounding WSL now....just how will they achieve 51%...If Mr Ramite keeps buying he will reach a mandatory threshold whereby he becomes obligated to make an offer to minorities I think it's somewhere around 36%....?

I'm not sure how much support there would be for a rights issue to fund an outside or even inside BEE partner. However a rights issue to buy another mining operation which would take us to the 51% I would support.


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#199 myusuf

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Posted 25 June 2015 - 08:16 AM

In my personal opinion this stock will eventually go up and you will see the rewards if you hold for another 2 years

 

However the opportunity cost is not worth it - you could turn the same cash numerous times on other deals and make far more money.


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#200 Sugafoot

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Posted 25 June 2015 - 08:14 AM

If Wescoal is currently at 31% BEE (not sure if they counted my shares 😝) and needs to get to 51% to unlock Eskom contract, how will they get there?<br />Are we possibly in line for rights issues or will the chairman simply keep buying on open market?
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