Coal of Africa clears loan with equity conversion
17th Feb 2017 15:35
(ShareCast News) - Coal of Africa announced on Friday that it received notice from Yishun Brightrise Investment requesting the conversion of a $10m loan to CoAL's ordinary share capital. The AIM-traded firm had entered into a loan agreement with YBI during September 2015, pursuant to which YBI advan
Read moreSouth Africa dismisses appeal against Coal of Africa's environment amendment
2nd Nov 2016 11:06
(ShareCast News) - AIM-listed miner Coal of Africa has announced that the South African government has dismissed an appeal against the environmental authorisation amendment for its Makhado mine in the Limpopo Province. Edna Molewa, the minister of the Department of Environmental Affairs, dismissed t
Read moreCoal of Africa still looking for cash-generating asset
28th Oct 2016 14:23
(ShareCast News) - South-Africa focused Coal of Africa updated the market on the quarter ended 30 September on Friday. The AIM-traded company said there were no lost-time injuries recorded during the quarter, continuing on the perfect record seen in the fourth quarter of the 2016 financial year. It
Read moreCoal of Africa water use licence suspended at Makhado
8th Apr 2016 11:46
(ShareCast News) - Coal of Africa had its Integrated Water Use Licence on the Makhado Project suspended on Friday, following an appeal to the South African Department of Water and Sanitation, submitted by the Vhembe Mineral Resources Forum and other parties. The appeal automatically suspended the li
Read moreCoal of Africa bid for Universal progressing, board says
11th Mar 2016 15:46
(ShareCast News) - Coal of Africa's bid for Universal Coal was progressing satisfactorily, its board said on Friday, with the company sticking to its planned timetable for the offer. The AIM-traded firm said it had received the written consent of Investec Bank to the implementation of the offer, sat
Read moreCoal of Africa secures funding for Universal Coal deal
7th Dec 2015 09:59
(ShareCast News) - Mining group Coal of Africa has secured financing for its bid for South Africa-focused coal miner Universal Coal. The London-listed company said it has agreed a $3m subscription deal with M&G Investment Management and the proposed $91m buy-out offer is now fully funded, via existi
Read moreCoal of Africa shares surge on funding news
5th Aug 2015 09:53
(ShareCast News) - Shares in Coal of Africa were up 5.54% after the Australian based miner signed a funding deal with a Singaporean private investment company. At 0900 BST shares in the AIM listed stock rose to 4.54p after the company secured two tranches of funding worth £12.4m. Under the arrangem
Read moreCoal of Africa cancels sale of Mooiplats Colliery to Blackspear Capital
2nd Jul 2015 11:54
Coal of Africa has cancelled the sale of its South African Mooiplaats Colliery asset to Blackspear Capital and has already began the search for another buyer. The sale, which was agreed earlier this year, was postponed twice, to offer Blackspear more time to provide proof of funding for the 250m ran
Read moreCoal of Africa appoints new CFO
22nd Jun 2015 08:08
Metallurgical and thermal coal producer Coal of Africa has appointed De Wet Schutte as its chief financial officer. The 44-year-old, who has covered the same role at Atlatsa Resources Corporation and has also worked for Australia-based Macquarie Bank as managing director of natural resources, will b
Read moreThursday broker round-up UPDATE
30th Oct 2014 08:36
Afren: Deutsche Bank cuts target price from 130p to 110p retaining its hold recommendation. Antofagasta: JP Morgan lowers target price from 760p to 755p and reiterates a neutral rating. Investec lowers target price from 717p to 704p and keeps a hold recommendation. Balfour Beatty: Jefferies cuts ta
Read moreCoal of Africa sells mine for $23.5m
22nd Sep 2014 12:54
Miner Coal of Africa is off-loading a colliery in South Africa for $23.5m as part of a turnaround plan. Coal of Africa is selling the Mooiplaats thermal underground colliery in the Mpumalanga province of South Africa to a wholly owned subsidiary of Blackspear Holdings. The miner deemed Mooiplaats a
Read moreCoal of Africa raises £38m for mining projects
26th Aug 2014 13:55
South African miner Coal of Africa has done deals to raise up to £38.2m in a share issue, lifting its shares. Coal of Africa, which has several sites in Limpopo province, has reached conditional agreements with existing and new investors to raise the cash to pay off debt, modify its Vele colliery a
Read morePace CFO cheers with share purchase
7th May 2014 15:51
Pace shares were moving higher on Wednesday after the group's Chief Financial Officer (CFO), Roddy Murray, bought himself 30,000 shares in the technology developer. Paying 349.9p a share, Murray spent a total of £104,970 and took his total beneficial holding to 130,000 shares. The deal took advan
Read moreWednesday broker round-up UPDATE
9th Apr 2014 09:09
Aberdeen Asset Management: RBC Capital moves target price from 485p to 495p and maintains an outperform rating. African Barrick Gold: Deutsche Bank upgrades to buy with a target price of 310p. African Minerals: Investec reduces target price from 241p to 198p and leaves its buy recommendation uncha
Read moreCoal of Africa to sell stake in NuCoal Mining Proprietary
5th Feb 2014 11:00
Coal of Africa has been granted regulatory approval for the disposal of its shares in South African business NuCoal Mining Proprietary. Coal will receive 80m South African Rand for the sale of business after getting the green light from the Department of Mineral Resources. Chief Executive David Br
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