CNF - Continental Goldfields

[Boyou]

Anyone have any goss on why CNF didn't trade today?

Checked ASX and couldn't see an announcement re trading halt.

 

[chicken8]

because nobody bought or sold at market

not strange. ERL didn't trade for a week before. just because theres a gap in price and noone bought or sold

 

[Maigret]

Asked the company some questions yesterday. Very quick respone from the consulting guys Peter Landau is involved...

In brief:

"CNFs Vanmag partner is a private south african company, currently trying to get the 33% stake from condor resources, the formerly bee partner of the old owner Pinnacle resources.
Nevertheless CNF has its 50% stake.

CNF didn't bought this stake directly from Pinnacle but from a third party.
May part of this transaction coud be a share package for Pinnacle (depends on the further negotiations...).

They want to start drilling in November and the Desktop study could be ready in 3 months...."

Some weeks more to accumulate a stake in this multi billion dollar project.

A study of German Midas Research spoke in 2004 of an indredible in-situ value of about 82 billion dollars for the project.

www.midasresearch.de/netengine/downloads/AF PNRR D 280904.pdf -

In this calculation V205 was calculated with 6 USD/lb. The current spot-Price is about 8 USD/lb... Here we go.

You have to know that midas of course is getting money for pushing - but in this case the calculations might be correct imo.

For tough guys Pinnacle Resources is worth a bet.

In the last annual report they released (but you have to be caution, it was the report 2005) the had 18 Million shares. So the current Marketcap is after todays 55% rush with only 55.000 k about 2,7 Million USD.
They announced they sold Vanmag for about 9 Million USD....

http://www.hotstocked.com/news/pinnacle-res-inc-PNRR-5504730.html

But the PNRR management seems to me like a bunch of bandits.... Not my playground.

Greetz from Germany
Maigret

 

[YOUNG_TRADER]

CNF looking very strong today,

Over 1m buying at 19c or above,

Not sure what the recent strength is on the back of,

Maybe the Annual report although I couldn't find much in there to suggest it


Thoughts?

 

[Maigret]

Posted some information about CNF on thursday on a private German Stock Forum. Maybe some European Investors enjoy the story....

 

[Maigret]

AGM-Presentation is online……

Is looking quite good:

- Infrastructure (esp. Energy…) is on spot
- logistics is possible
- a very tough time-schedule – in 9 month measurd jorc and bfs
- a experienced project team with good old rio and bhp guys

The story continues….

Maigret

 

[YOUNG_TRADER]

Hey Maigret,

Yeah saw the pres to, looking good

Curious did you interpret the timeline to be that JORC drilling was ready to go and JORC out in 3 months, or JORC drilling to begin in 3 months?

I thought the prior, ie JORC in 3 months

I guess I should call the company to clarify

 

[Maigret]

Hey Maigret,

Yeah saw the pres to, looking good

Curious did you interpret the timeline to be that JORC drilling was ready to go and JORC out in 3 months, or JORC drilling to begin in 3 months?

I thought the prior, ie JORC in 3 months

I guess I should call the company to clarify

YT,

I interpet it that the JORC results will be available in 3 months.

Some weeks ago i was in contact with an employee of Peter Landau's consultant company. They answered me that they want to start drillings in november. But a current clarification would be fine.

Cheers
Maigret

 

[brodion]

cnf is showing some life it had been dead only last week something going on..Any body trading or holding it?? I bought back in last week!!!!

Brodion

 

[lokunia]

hey everyone

Long time observer, first time posting i think. I just wanted to try and get this thread discussion going again as i've heard a few good things about CNF over the last couple of weeks from sources i'm not sure are reliable, but i have a few shares i bought last year and bought some more last week. Does anyone have known facts about CNF and it's future? YT??

 

[Big G]

Glancing over the financial report I noticed CNF had been approved a US $1.5Million draw facility on 5th Sep 2008.

Surely that's a vote of confidence amdist the current raging credit contagion?

Pretty slow in releasing pending results though.

I hold and wait.

 

[Boyou]

Anyone have news/views on the changes in CNF?
Now CCC ,after the aquisition of a South African coal producer.In trading halt at the moment pending announcements on 23rd July

 

[petervan]

Heading north and looks promising with production starting in the next weeks.
Worth a read of there web site.

 

[ands]

This share has caught my attention, they recently changed their name to Continental Coal (should the thread name be changed?) after purchasing the South African coal producer, Continental Coal.

The way I see it is they are hoping to bring 2 coal projects in SA into production mode this year, one in September at 50,000t/per month startup moving to 100,000t/pm next year, the other starting in Q4 2009 at 100,000t/pm.

Surely this stock is undervalued, or is this management team usually full of empty promises. They could be producing 150,000t/per month before the end of this year. Any holders out there have any background on this management team, are these startup predictions very optimistic? Where do I find the current price of coal? Thanks.

Shares on Issue: 828,285,001
Market Cap: $57,979,950
Current SP: $0.07

 

[lachie74]

I'm a holder of CCC.

News from their management is that news of a take off agreement with a large European energy company is expected "soon".

Hopefully we'll see a very big day once that is released.

 

[Boyou]

Perhaps one of the mods could tidy this up and rename the thread with the new ASX code. CCC.......

Have been in suspension of trade for since march 8..They expect to make a formal announcement about April 9 . This is the latest on Continental Coal..might be the push it needs.I am a holder

UPDATE ON ACTIVITIES AND STATUS OF SUSPENSION
Key Points:
• Off-take secured for Continental’s production of export thermal coal product from its Vaalbank, Project X and Vlakvarkfontein Coal Mines with EDF Trading, a leader in the international wholesale energy markets and a wholly-owned subsidiary of EDF S.A., Europe’s leading electricity producer
• Funding package of US$20M secured from EDF Trading to be repaid from production of coal over 5 years
• Continental finalizing negotiations and documentation for landmark US$30M off-take and funding arrangements with leading international energy trading companies that will confirm its position as one of South Africa’s leading emerging coal companies
• Completion of off-take discussions and funding arrangements will allow Continental to aggressively complete acquisition of assets and fund development of its portfolio of South African coal projects,
• Continental has also secured access to key infrastructure following execution of documentation for up to 300,000t per month (3.6 mtpa) of rail allocation for the export of its thermal coal production
• First Continental coal mine, Vlarkvarkfontein achieves another important milestone with the commencement of blasting operations, and moves towards first coal sales in May 2010
• Continental’s voluntary suspension from quotation to continue until such time as it is in a position to make a formal announcement in relation to the finalisation of the off-take and funding discussions for the Vlakplaats Coal Mine. This is expected to occur on or before 9 April 2010.