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  • Zci

    ZCI devrait recoter fin juillet : 8 repreneurs en lice pour ses mines

    More suitors for Mowana Mine

    Up to eight suitors are conducting due diligence into African Copper’s suspended mines, Mowana and Thakadu, with a view to possibly making formal bids, BusinessWeek has established.
    By Mbongeni Mguni Fri 10 Jun 2016, 12:55 pm (GMT +2)

    African Copper shut Thakadu and Mowana in May and November last year respectively citing end of life and associated costs as well as plummeting prices of copper.

    In April, liquidators involved in the disposal of the operations said at least three bidders had expressed interest in taking up the mines.

    PricewaterhouseCoopers managing director, Butler Phiri said about eight bidders were in the running to take over the mine.

    “We are in the due diligence process at the moment where the potential bidders are accessing data on the mines in respect of geology, the extent of the ore reserves, quality of the plant and others,” he told BusinessWeek. “That will inform their decision to bid for a purchase.”

    It is understood the bidders include mining companies in Botswana, in the region and internationally. Phiri said the due diligence process for potential bidders would end on June 30, 2016 before matters proceed rapidly to a conclusion.

    Potential bidders will have to make
    their formal bids by July 7, ahead of a creditors’ meeting, where formal offers will be tabled for consideration.

    “My plan is to call a creditors’ meeting by July 28 in which I expect that the liquidation accounts will be laid before the Master (of the High Court) and creditors,” Phiri said.

    “That’s when I expect that the liquidation process will be substantially ended,” he added.

    Last year, creditors pushed for Mowana to be placed under liquidation, in order to squeeze out payments from African Copper running into hundreds of millions of pula.

    Diesel Power Mining Services, which signed a P1.2 billion contract for mining works at Mowana in 2014, led the creditors’ charge, demanding settlement of a P47 million debt.

    African Copper is also heavily indebted to its major shareholder, ZCI Limited, as well as local banks.

    At least 500 workers were retrenched after Mowana closed in April, with hundreds more having been axed after Thakadu’s closure.

  • #2
    ZCI que les anciens spéculateurs connaissent bien devrait recoter assez prochainement...

    Reprise des actifs officialisée, il faut maintenant attendre les détails et la recotation

    Zci Limited - Proposed Acquisition Of Assets Of Messina Copper (botswana) (pty) Ltd (in Liquidation) By Leboam Holdings (pty) Ltd

    Release Date: 22/11/2016 14:00:00 Code(s): ZCI [Email this JSE Sens Item to a Friend] [Printer Friendly Version]

    Proposed Acquisition of Assets of Messina Copper (Botswana) (Pty) Ltd (in liquidation) by Leboam Holdings (Pty) Ltd

    ZCI Limited
    (Bermudian registration number 661:1969
    (South African registration number 1970/000023/10)
    JSE share code: ZCI ISIN: BMG9887P1068
    Euronext share code: BMG9887P1068
    ("ZCI" or "the Company" or “the Group”)

    PROPOSED ACQUISITION OF ASSETS OF MESSINA COPPER (BOTSWANA) (PTY) LTD (IN
    LIQUIDATION) BY LEBOAM HOLDINGS (PTY) LTD

    Shareholders are referred to the cautionary announcement by ZCI on 2 August 2016, wherein shareholders
    were advised that a second meeting of creditors of Messina Copper (Bostwana) (Pty) Ltd (in liquidation)
    (“Messina”) was held on 28 July 2016, where it was resolved that the Messina Liquidator be authorised to
    accept an offer in respect of the disposal of the assets of Messina (the “Offer”), subject to agreement to the
    suspensive conditions to the Offer being met by 28 October 2016, as well as the approval of the Messina
    Liquidators report tabled at the meeting. Shareholders are further referred to the cautionary announcement
    on 14 November 2016 wherein shareholders were advised that negotiations by the Messina Liquidator with
    the preferred bidder were in progress and that the longstop date for the satisfaction of the suspensive
    conditions relating to the Offer had been extended by the Master of the High Court until 30 November 2016
    and it was ZCI’s expectation that the Messina Liquidator would report to Messina’s creditors once the Offer
    terms had been finalised and suspensive conditions had been met.

    ZCI wishes to advise shareholders that the Messina Liquidator has received a proposal from the preferred
    bidder, Leboam Holdings (Pty) Ltd (“Leboam”) to acquire the Messina assets. Leboam, the acquiring
    enterprise, is an entity registered under the Laws of Botswana and is wholly owned by Cradle Arc
    Investments (Pty) Ltd (“Cradle Arc”). Cradle Arc is a newly registered entity under the Laws of Botswana,
    established for the purposes of this transaction. Cradle Arc is, currently, wholly owned by PenMin (Pty) Ltd
    (“PenMin”), an entity incorporated in accordance with the Laws of South Africa. PenMin is an entity that
    offers mining, infrastructure and construction business solutions. With effect from the acquisition effective
    date, ZCI will become a shareholder in Leboam.

    The acquisition of the Messina assets by Leboam will be subject to certain suspensive conditions to the Offer
    being satisfied including approval by the Competition Authority of Botswana, in accordance with section
    56(1) of the Competition Act under which a merger notification will shortly be published.

    The Company will provide updates to stakeholders as and when further information becomes available.

    Bermuda
    22 November 2016
    Sponsor: Bridge Capital Advisors (Pty) Ltd

    Date: 22/11/2016 02:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
    The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
    the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
    indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
    information disseminated through SENS.


    Email this JSE Sens Item to a Friend.

    Commentaire


    • #3
      DU nouveau sur ZCI (surnommé le zizi par les commis au Palais Brongniart).
      Elle va bientôt recoter sur le JSE où les actions Euronext ont été transférées par les brokers et les banques des actionnaires français(car Euroclear ne cote plus de valeurs sud-africaines à Paris).
      Le repreneur de ZCI , CAI (Cradle Arc) est réintroduit le 24/1 sur l'AIM à Londres et ceci déclenche l'accord de reprise dont voici l'essentiel :

      12.2. Leboam Acquisition Agreement
      A conditional amended and restated asset sale agreement dated 13 December 2017 between MCB,
      MCB’s liquidator, Leboam and ZCI, pursuant to which MCB agreed to sell and Leboam agreed to
      buy MCB’s right, title and interest in Mowana for consideration consisting of (i) US$20,000,000 in
      cash with US$10 million payable to the liquidator pursuant to the terms of the Liquidator Loan Facility
      over 24 months with a 9 month principal repayment moratorium and US$9.9 million payable to ZCI
      pursuant to the terms of the ZCI Secured Loan over 33 months with a 9 month principal repayment
      moratorium (the Leboam Cash Consideration); (ii) US$21,000,000 representing the ZCI Term
      Loan; and (iii) US$79,000,000 recorded by Leboam in favour of ZCI and convertible into 40 per cent.
      of the issued share capital of Leboam on completion. The agreement provides that relevant parties
      shall enter into each of the Liquidator Loan Facility and the ZCI Secured Loan upon completion in
      their respective agreed forms (and as further summarised in paragraphs 12.25 and 12.24
      respectively).

      Document d'admission complet (énorme...) : http://cradlearc.com/wp-content/uplo...le-Arc-WEB.pdf

      Avis positif du broker Beaufort : https://www.beaufortsecurities.com/cradle-arc-c-2-p-471

      Commentaire


      • #4
        Envoyé par jacq1 Voir le message
        DU nouveau sur ZCI (surnommé le zizi par les commis au Palais Brongniart).
        Elle va bientôt recoter sur le JSE où les actions Euronext ont été transférées par les brokers et les banques des actionnaires français(car Euroclear ne cote plus de valeurs sud-africaines à Paris).
        Le repreneur de ZCI , CAI (Cradle Arc) est réintroduit le 24/1 sur l'AIM à Londres et ceci déclenche l'accord de reprise dont voici l'essentiel :

        12.2. Leboam Acquisition Agreement
        A conditional amended and restated asset sale agreement dated 13 December 2017 between MCB,
        MCB’s liquidator, Leboam and ZCI, pursuant to which MCB agreed to sell and Leboam agreed to
        buy MCB’s right, title and interest in Mowana for consideration consisting of (i) US$20,000,000 in
        cash with US$10 million payable to the liquidator pursuant to the terms of the Liquidator Loan Facility
        over 24 months with a 9 month principal repayment moratorium and US$9.9 million payable to ZCI
        pursuant to the terms of the ZCI Secured Loan over 33 months with a 9 month principal repayment
        moratorium (the Leboam Cash Consideration); (ii) US$21,000,000 representing the ZCI Term
        Loan; and (iii) US$79,000,000 recorded by Leboam in favour of ZCI and convertible into 40 per cent.
        of the issued share capital of Leboam on completion. The agreement provides that relevant parties
        shall enter into each of the Liquidator Loan Facility and the ZCI Secured Loan upon completion in
        their respective agreed forms (and as further summarised in paragraphs 12.25 and 12.24
        respectively).

        Document d'admission complet (énorme...) : http://cradlearc.com/wp-content/uplo...le-Arc-WEB.pdf

        Avis positif du broker Beaufort : https://www.beaufortsecurities.com/cradle-arc-c-2-p-471
        Un beau placement de père de famille!

        Commentaire


        • #5


          Je suis un grand spécialiste de cette valeur (autrefois au RM et la plus spéculative de la cote) depuis 1993
          quelques grosses paumes mais surtout des gains assez gigas...
          j'aime l'adrénaline


          Envoyé par arnaud11 Voir le message
          Un beau placement de père de famille!

          Commentaire


          • #6
            Envoyé par jacq1 Voir le message


            Je suis un grand spécialiste de cette valeur (autrefois au RM et la plus spéculative de la cote) depuis 1993
            quelques grosses paumes mais surtout des gains assez gigas...
            j'aime l'adrénaline
            Tu es le Miguet de la file.

            Commentaire


            • #7
              Abus reporté !

              Envoyé par arnaud11 Voir le message
              Tu es le Miguet de la file.

              Commentaire


              • #8
                Réintroduction de Cradle Arc ce jour à Londres (AIM).
                avec commentaires du CEO sur Mowana (dont ZCI détient 40%) :

                Kevin van Wouw, CEO of Cradle Arc, said:
                “The central pillar of our portfolio is Mowana, an established copper mine in Botswana, which is currently in production and ramping up to approximately 12,000tpa of saleable copper per annum, at an all in cash cost of US$4,400/t versus a current copper price of US$6,897/t, clearly highlighting the already robust economics of the mine. Our plans to expand and optimise Mowana, primarily through the implementation of a DMS pre-concentration process, considerably improve the economics of this asset and can potentially raise the total project NPV significantly, to US$245 million. In addition to the producing Mowana mine, there is significant additional upside potential from the exploration opportunities open to us in the region and exciting opportunities across our wider portfolio.

                A suivre la recotation de ZCI

                Commentaire


                • #9
                  Une analyse de broker sur Cradle Arc introduite ce jour à 10p.

                  RNS Number : 7043C

                  Cradle Arc PLC

                  24 January 2018




                  Cradle Arc

                  Conviction Buy - Price target 28.38p

                  Transformational deal acquiring key copper mine at a low price

                  Cradle Arc originally listed on AIM in 2006 as Cue Energy, with the company's focus switching from energy to gold in 2011. Over the last two years, under the name of Alecto Minerals, the company has been transformed from a gold exploration play into a highly compelling, diversified African miner by acquiring the Matala gold project and now the economically robust Mowana Copper Mine.

                  Copper production capacity expected to double within 18 months

                  The acquisition of the Mowana Copper Mine looks like an exceptional deal. A 60% stake is being bought for £12.3 million, while more than US$170 million was invested in the mine to originally get it commissioned. Reassuringly, project debt is down to a manageable level, with upgrades to allow nameplate production capacity to double in 2019.

                  Low risk entry into gold mining which could now be funded

                  Vendor financing has already been agreed for a 30,000oz per annum gold mine at Matala. The acquisition of Mowana, with its cash flow and assets, provides the security for the financing, which had previously been a stumbling block.

                  Value to be added to gold exploration portfolio by JV partners

                  The move into mining production has seen Cradle Arc stop funding basic exploration work. Now, the gold exploration projects are being funded to key milestones with well-established joint-venture partners including Randgold Resources and Kola Gold.

                  Our analysis suggests a very conservative risked target price of 28.38p

                  We have prepared a valuation based on the combined NPVs for the expanded Mowana Copper Mine, the Matala Gold Mine and exploration assets, and calculate a fair value of 28.38p per share on a fully diluted basis. We continue our coverage of Cradle Arc with a Conviction Buy stance.

                  To download the full research note visit Cradle Arc - Align Research




                  This information is provided by RNS

                  The company news service from the London Stock Exchange

                  Commentaire


                  • #10
                    Update sur la production à Mowana : Test Work Confirms the DMS Applicability, Mowana - RNS - London Stock Exchange

                    Commentaire


                    • #11
                      ZCI Limited
                      (Bermudian registration number 661:1969)
                      JSE share code: ZCI
                      ISIN: BMG9887P1068
                      Euronext share code: BMG9887P1068
                      ("ZCI" or the “Company")

                      RENEWAL OF CAUTIONARY ANNOUNCEMENT

                      Shareholders are referred to the previous cautionary announcements released by ZCI in connection with the
                      liquidation of each of Messina Copper (Botswana) Proprietary Limited (in Liquidation) (“Messina” or “MCB”)
                      and African Copper plc (in Liquidation) (“ACU”). Capitalised terms defined in previous announcements have
                      the same meaning when used herein.

                      Shareholders are reminded that on 16 December 2016 it was resolved that the Messina Liquidator be
                      authorised to accept an Amended Offer from Leboam Holdings Proprietary Limited (“Leboam”) in respect of
                      the disposal of the assets of Messina dependent on certain suspensive conditions being satisfied (the
                      “Transaction”). Shareholders are further reminded that on 18 January 2017 the parties to the Transaction
                      agreed to amend certain of the terms relating to the consideration contemplated in the Amended Offer in
                      connection with the proposed admission of the ordinary shares of Leboam’s ultimate parent company, Cradle
                      Arc plc (“Cradle Arc”), to trading on AIM, which successfully occurred on 24 January 2018.

                      Shareholders are advised that all suspensive conditions to the Transaction have now been satisfied and
                      accordingly, a US$9.9 million secured loan payable by Leboam over 33 months (which includes a 9 month
                      capital repayment holiday) carrying interest at 13.5% has been credited in the books of account of Leboam in
                      favour of ZCI; ordinary shares in Leboam representing 40% of the share capital of Leboam have been
                      registered in the name of ZCI; and a US$21 million unsecured shareholder loan has been recorded in the
                      books of account of Leboam in favour of ZCI.

                      In addition, Shareholders are advised that the voluntary liquidation of ACU remain in progress and that as at
                      the date of this announcement, the board of directors of ZCI cannot reliably estimate the extent of any
                      potential proceeds arising as a result of these voluntary liquidation proceedings. The Company will provide
                      updates to stakeholders as and when further information, including the full financial impact thereof, has been
                      made available.

                      As a result of the events explained above, the board of directors of ZCI is not able to provide a date on which
                      the suspension of trading, in securities of ZCI, is expected to be lifted as is required in terms of Section
                      1.10(c) of the JSE Limited Listings Requirements.

                      Bermuda
                      31 January 2018
                      Sponsor: Bridge Capital Advisors Proprietary Limited

                      Date: 31/01/2018 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

                      Commentaire


                      • #12
                        NPV de Mowana : 245M$ donc pour ZCI qui en détient 40% cela fait 98 M$ auxquels il faut ajouter le cash que ZCI va toucher du repreneur des mines Cradle Arc (voir communiqué plus haut du 23/1) plus ce que versera le liquidateur (pas encore connu, quelques millions de $).
                        Au dernier cours côté à Paris, la capi de ZCI était de 11.5 M€...
                        il y a de l'upside !

                        Commentaire

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