285 replies to this topic

[Polly]

Results out today....This pig gonna be wearing lipstick all year.

https://www.sharenet...00&seq=3&scode=

 

Not Pretty at all....

picked up some the other day at R1.25...seems bad move hay but kept to my entry target 1.25 to get in.....lets see

[soutie]

Results out today....This pig gonna be wearing lipstick all year.

https://www.sharenet...00&seq=3&scode=

 

Not Pretty at all....

[Midas1]

Thanks Soutie

[soutie]

& a quick look at the price action if someone dumps 20k script your're into R5 area very quick.

Polly's coal play this one though not mine.

[soutie]

All I know is BEEEEEEG plans & not enough funds. Previous share consolidation perhaps to disguise future rights issue...? Major finance houses against funding new coal projects & isn't their flagship Makhado a big 1....? & if you have 42k shares you own more than the CEO....So very little skin in the game for someone 4yrs or so in the job...Those are some of my observations...not interested in investing in another coal outfit have enough issues with WSL..

Enjoy the day.

[Midas1]

Hey soutie...you an old hand...whats uour take on mcz....i know you know about mining..cheers

[soutie]

 https://www.miningmx...-via-exxaro-jv/

 

 

Highlights...

WESCOAL Holdings has restructured its balance sheet in which it has locked in new credit of R1.1bn with the option of accessing an additional quick fire R500m.

The new credit may be for a joint bid for the South African thermal coal assets of South32 which Wescoal is speculated to be pursuing in joint venture with Exxaro Resources.

 

Market speculation suggests that binding bids for South32’s coal mines – known as South African Energy Coal (SAEC) – is due today. It’s understood that three consortiums are in the final race for the 28 million tons per year (Mt/y) production. In addition to the Exxaro/Wescoal structure, there’s Sibambene Coal, backed by trading group Mercuria, and Seriti Resources, a company that is led by Mike Teke, the former president of the Minerals Council South Africa.

[soutie]

Today's update:

https://www.sharenet...00&seq=9&scode=

 

So we finds ourselves in the eye of the perfect storm for Junior coal miners in Mpumalanga ie:Thugs & heavy rain.

While I realise that in acquiring other companies you have to deal with unpleasant scenarios it's just about time that we start to write into the offer to purchase that we want 100% of the company & if some people proudly wearing their BEE partner suit are dealt with at that point instead of later thus causing significant upheaval.

Earlier I mentioned that Universal WOULD go through & these guys are good deal makers etc.... Sorry....Today's announcement implies jumping through hoops to access more cash.

Poor show all round here & price reflecting thus....Has it gone from dog to mutt...? Time will tell...As for R2 barrier sweet dreams....!

[soutie]

Media article on today's SENS.

https://www.miningmx...pumalanga-mine/

 

https://www.sharenet...00&seq=2&scode=

 

Keeping it real...!

Viva Brothers Viva the revolution is upon us....May 8th 

[JK001]

mr market seems pretty happy about it

[soutie]

Eish.....      

 

https://www.sharenet...0&seq=20&scode=

 

I have no words....    

[Midas1]

https://www.moneyweb...growth-outlook/

[Midas1]

Hi Soutie..or anyone with info..ive looked but anyone have info re "
mining and manufacturing data" thanks

[Midas1]

The wonders of Google...the,article on exx heps old ..so ignore..thank g d for that!!

[Midas1]

Have exx and imp cfds which im long on

[Midas1]

This should be good for exx if westcoal buying that mine surely? Found this on Google...maybe same thing you saw? Thanks search...https://www.miningmx...boost-to-eskom/

[Midas1]

Hi fyi soutie.. ..https://www.business...rice-to-slip-4/

[Midas1]

Heading off beer..been long week..ill do some googling in weekend or Monday..see what else can be dug up..appreciate your input..have a good one

[soutie]

Cut & Paste jobbie from Miningmx

 

Wescoal said the deal will re-open mineral reserves that otherwise stood to be sterilised. Arnot is adjacent to Eskom’s Arnot Power Station which was sourcing some four million tonnes a year (Mt/y) of thermal coal from the mine.

At the time of its closure, Exxaro said that including Mooifontein – an extension that Eskom was not prepared to finance – coal mineable reserves totalled 70 million tonnes (Mt) of which 34Mt were underground and 36Mt were open cast. There were also future reserves that existed within the Arnot mining area that could extend the life of the mine in the future, Exxaro said.

Wescoal said that the coal would be delivered to the power station through a conveyer belt, resulting in a cost competitive advantage with minimum carbon tax impact.

 

 

So Life of mine some 9yrs @ 4mil tons per yr...Open cast & we can do that easy peasy...Or am I missing something..?

Edited by soutie, 01 March 2019 - 05:23 PM.

[Midas1]

Thanks soutie..yes i do my homework but good have opinion when someone knows the buzz..exx all over place today..but have nerves of steel 😁