This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

MCM - MC Mining

Jump to new
My interest in CZA has increased with the tank in the share price. One of those rare Aussie stocks with all interests in South Africa. The Vele Project comes on stream at the end of this year and CZA are a stock I've built up a holding in.

Hopefully we'll see some improvement from here, though the stock is in a high risk cyclical sector.
 
King EU said:
What will be the consequences of the delisting for us Australian holders?
Will we be forced to sell or will our holdings be transferred overseas or what?
Click to expand...
Aus and NZ holders will be given a quite long time-frame where a special low-price sale arrangement will be made. After that you choose South Africa or UK.

Problems at the Vele mine have crashed CZA stock but slightly better news is showing some improvement in the stock price. If Vele mine goes ahead, late but to plan, the stock should head back over $2.00.
 

Looking very drab are Coal of Africa, referred to as CoAl. All is now on the go-ahead of the Vele Project. If you think Vele will eventually go forward as previously planned and the protesters will fall away, then, CZA are very cheap indeed.
 
noirua said:
Looking very drab are Coal of Africa, referred to as CoAl. All is now on the go-ahead of the Vele Project. If you think Vele will eventually go forward as previously planned and the protesters will fall away, then, CZA are very cheap indeed.
Click to expand...

I have loaded up with CZA as the stock is at very low levels and about 45% down on their highs in a confident puffed up sector.
The RIO farm sale agreement looks done and dusted. Makhado, Yoorburg, Jutland and Mount Stuart, coking coal projects look set now to go ahead.
 

Gradually recovering after the Vele near disaster; confidence exit-ted at the very moment of the announcement. Picking up slowly from the Farm-In with $1.66 the target equivalent to £1 in the UK.
 
noirua said:
Gradually recovering after the Vele near disaster; confidence exit-ted at the very moment of the announcement. Picking up slowly from the Farm-In with $1.66 the target equivalent to £1 in the UK.
Click to expand...

Decent breakout in the UK early on, almost hit £1 but faded when the UK rolled over. Aus may have a pullback monday, but knowing CZA it could put on another 3%
 
Heavy trading in London of CZA stock as 6 million shares change hands with sellers outnumbering buyers by 5 to 1 - little movement in the share price however. Two 1 million share trades close together.
 
any thoughts on the implications of unesco sniffing around?sp seems to holding tho
 
albaby said:
any thoughts on the implications of unesco sniffing around?sp seems to holding tho
Click to expand...

The situation with CZA has been a management disaster as they basically misjudged near everything. Vele was thought to be all cut and dried and then suddenly a great storm floods it all, not literally of course.
Unesco sniffing around may be partly good news in this disaster. So bad is it coAl will at least get lots of publicity. Mapungubue is a Heritage area but permission was given to go ahead by The South African Government.

Confidence is drying up in South Africa and the time has come to withdraw from the country on exploration and pull the cash out.
 
Coal of Africa rose on Friday in London, closing at 98.5p up 7.5p ($1.50); not on any news but more on the runup of thermal coal prices peaking on Thursday at $129.25 per tonne, in Europe.
 
After strong takeover rumours in London CZA shares, they've been under a cloud of late, rose nearly 12% on takeover rumours to close at 84p ($1.30).
 
noirua said:
After strong takeover rumours in London CZA shares, they've been under a cloud of late, rose nearly 12% on takeover rumours to close at 84p ($1.30).
Click to expand...
There is always some upside in a downtrend. Presently testing support and a rumour won't hurt that cause.
 
Wysiwyg said:
There is always some upside in a downtrend. Presently testing support and a rumour won't hurt that cause.
Click to expand...

Having hit 92p in the UK the price tumbled to 75p and now stands again at 84p - looking a bit special are CZA and one of the few coal opportunities around that may be proven to be under-priced. [apologies for quoting £s but exchange rates are changing fast]
 

Holding up still while coal stocks worldwide are drifting. Sure they're way down on highs but seem to be holding steady now. Only coal stock on my monitor and worth putting on yours, me thinks.
 
noirua said:
Holding up still while coal stocks worldwide are drifting. Sure they're way down on highs but seem to be holding steady now. Only coal stock on my monitor and worth putting on yours, me thinks.
Click to expand...

Hope you monitored CZA well as a 15% upward shift on the ASX and 25% move on LSE heralded the South African National Environmental authorisation being granted by the Department of Environmental affairs for the company's Vele mine project. More outlining of the special conditions should follow.
 
I had thought that stocks such as this no longer existed.

All it's assets lie in areas conquered by my Dad on behalf of the Crown while serving in the Boer War.

Nowadays it is a stock in a determined down trend, poking it's head up with a long up bar on the last day's trading, opening low and trading high.

It has a very nice downward triangle, with larger volume on down days.

This would indicate a further price drop.

Perhaps it is ready to rise, as the good folk at Kraaipan did, in which case it may go sideways, form a bottom and then spectacularly rise from the ashes like a good Heilbron Commando.

One technical note supporting the last scenario, may be to keep and eye on the down trendline which has touched three points, and should it close above this line and keep on going, it may be a portend of a rising price. Lower volume and a drifting lower price could be accumulation.

I can hear the drums beat.

gg
 

Attachments

  • cza.jpg
    94.7 KB · Views: 7
On December 8th, 2017, Coal of Africa Limited (CZA) changed its name and ASX code to MC Mining Limited (MCM).
 
You must log in or register to reply here.

Similar threads

D3E - D3 Energy
Replies
2
Views
1K
Dona Ferentes
AMG - Ashby Mining
Replies
1
Views
1K
Dona Ferentes
March 2024 DDD
2 3
Replies
47
Views
5K
ducati916
FNR - Far Northern Resources
Replies
1
Views
1K
Dona Ferentes
Current Water Technologies Inc - TSXV: WATR | OTC: ENPRF
Replies
3
Views
1K
TacoTed
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...