Tanking

[Vasilis]

This company seems to be able to blow $100m in ten months, sell off five of it's assets only to use the capital as working capital that goes where the $100m went and issue tons of new shares for it's employee share incentive scheme while the share price is hitting new lows. This must be some sort of strategic planning. Has anyone an idea what is going on ????

[kwagga]

They have chosen a ecologically sensitive area to try and build a business. They are also competing with commercial farming activities in the area for scares resources like water. If a company like ZZ2 closes shop (15000) jobs because their water resources have been polluted, than CZA will be sorry they ever set foot on African soil.

[Vasilis]

Well I heard of Mining downwards, upwards, sideways and forwards but I have never heard of Mining backwards. This is what appears to be happening with this outfit. The share price is now half of when it was listed in 2006 unless I have missed a share split or something. The Rand/$ exchange rate in the meantime has almost doubled.

[Plonky]

Have a look at the chat history around this share....especially the comments made in the past by Pirates....I warned Pirates at that time that there are problems with the coal deposit....and his comment to me was that I did not know what I was talking about.....hopefully lesson learnt now....I dont see anymore posts from Pirates anymore....maybe he sailed off in the sunset..At one stage this share reached R36 !!!