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India

Wescoal Holdings Ltd (WSLJ.J)

WSLJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Wescoal Says Review Of Current State Of Operations At Arnot Mine, 'As Is Status', Been Completed
Friday, 13 Dec 2019 

Dec 13 (Reuters) - Wescoal Holdings Ltd ::UPDATE ON THE ACQUISITION OF A 50% INDIRECT INTEREST IN THE ARNOT MINE.TO ACQUIRE FROM EXXARO COAL MPUMALANGA PROPRIETARY LIMITED FOR NO CONSIDERATION AND ON A VOETSTOOTS BASIS.LAST CONDITION IN DEAL ENTERED BY ARNOT OPCO PROPRIETARY & ECM FOR TRANSACTION TO BE UNCONDITIONAL, I.E. ESKOM CONSENT, NOW FULFILLED.EFFECTIVE DATE OF DEAL WILL BE FEB 1, IN TERMS OF SUBSCRIPTION AGREEMENT CONCLUDED BY PARTIES.REVIEW OF CURRENT STATE OF OPERATIONS AT ARNOT MINE, 'AS IS STATUS', HAS BEEN COMPLETED.  Full Article

Wescoal HY Headline Loss Per Share 11.9 Cents
Tuesday, 26 Nov 2019 

Nov 26 (Reuters) - Wescoal Holdings Ltd ::CONDENSED CONSOLIDATED RESULTS FOR THE PERIOD ENDED 30 SEPTEMBER 2019.HY REVENUE DECREASED BY 0.05% TO R2.063 BILLION (HY19: R2.064 BILLION).HY HEPS DECREASED BY 151% TO -11.9 CENTS PER SHARE (HY19: 23.5 CENTS PER SHARE).NO DIVIDEND DECLARED FOR HY (HY19: 8.10 CENTS PER SHARE).HY EPS DECREASED BY 147% TO -11.8 CENTS PER SHARE (HY19: 25.2 CENTS PER SHARE).HY NET ASSET VALUE PER SHARE DECREASED BY 10% TO 226 CENTS PER SHARE (FY19: 252 CENTS PER SHARE).OPTIMISTIC THAT CO WILL ACHIEVE OPERATIONAL STABILITY IN THE SECOND HALF OF FY20 AND ADD SIGNIFICANT PRODUCTION VOLUMES.PRIORITY DEVELOPMENT OF MOABSVELDEN AND THE EXTENSION OF VGF ARE PROGRESSING WELL.ESKOM REMAINS CONSISTENT, RELIABLE CUSTOMER, COMMITTED TO MAINTAINING STRONG RELATIONS WITH THE PARASTATAL IN FUTURE.  Full Article

Wescoal Holdings Says HY Trading Sales Are 14% Lower Than Comparable Period
Friday, 8 Nov 2019 

Nov 8 (Reuters) - Wescoal Holdings Ltd ::PRODUCTION AND SALES REPORT, STRATEGIC UPDATE AND TRADING STATEMENT.GROUP MINING PRODUCTION LEVEL FOR SIX MONTHS TO 30 SEPTEMBER 2019 IS IN TOTAL 14% LOWER THAN COMPARABLE PERIOD OF SEPTEMBER 2018.HY TRADING SALES ARE 14% LOWER THAN COMPARABLE PERIOD.HY MINING SALES VOLUMES RELATIVE TO COMPARABLE PERIOD ARE 6% HIGHER.SEES HY HEADLINE LOSS PER SHARE OF BETWEEN 10.5 AND 12.5 CENTS.SEES HY LOSS PER SHARE TO BE BETWEEN 10.6 AND 12.6 CENTS PER SHARE.HY EBITDA EXPECTED TO BE BETWEEN R140-150 MILLION.LOWER THAN BREAKEVEN PRODUCTION VOLUME AT VANGGATFONTEIN RESULTED IN SIGNIFICANT LOSSES BEING INCURRED OVER ENTIRE INTERIM REPORTING PERIOD.GROUP PROFITABILITY WAS ALSO IMPACTED BY INCREASED MINING COSTS AT ELANDSPRUIT MINE IN INTERIM PERIOD.LEEUW BRAAKFONTEIN COLLIERY ASSET REMAINS NON- CORE TO CO, NEW ASSET DISPOSAL PROCESS MAY BE CONSIDERED IN NEAR FUTURE.  Full Article

Wescoal Acquires Remaining Minority Interest In Neosho Trading 86 Proprietary
Thursday, 30 May 2019 

May 30 (Reuters) - Wescoal Holdings Ltd ::ACQUISITION OF THE REMAINING MINORITY INTEREST IN NEOSHO TRADING 86 PROPRIETARY LIMITED.FOLLOWING ACQUISITION, WESCOAL WILL OWN 100% OF ISSUED SHARE CAPITAL OF MOABSVELDEN PROJECT..KEATON WILL ACQUIRE SALE SHARES FOR A PURCHASE CONSIDERATION OF R10.5 MILLION..WESCOAL HAS ENTERED INTO AND EXECUTED A SALE OF SHARES AND CLAIMS AGREEMENT WITH MBABAZINI ESTHER DHLADHLA.  Full Article

Wescoal Holdings Says Department Of Mineral Resources Approves Sale Of Arnot Mine
Wednesday, 1 May 2019 

May 1 (Reuters) - Wescoal Holdings Ltd ::DEPARTMENT OF MINERAL RESOURCES APPROVES SALE OF ARNOT MINE.WESCOAL HOLDINGS- ACQUIRING 50% INTEREST IN ARNOT MINE AND INTENDS TO RESTART COAL PRODUCTION AND SUPPLY TO ESKOM’S ARNOT POWER STATION DURING FY2020.  Full Article

Wescoal Holdings Acquires 50 Pct Indirect Interest In Arnot Mine
Thursday, 28 Feb 2019 

Feb 28 (Reuters) - Wescoal Holdings Ltd ::ACQUISITION OF A 50% INDIRECT INTEREST IN THE ARNOT MINE.ENTERED INTO AGREEMENTS TO PARTNER WITH INNOVATORS RESOURCES TO ACQUIRE FROM EXXARO COAL MPUMALANGA FOR NO CONSIDERATION, ON VOETSTOOTS BASIS.AS PART OF DEAL, CO, ARNOT CONCLUDED AGREEMENTS TO GIVE EFFECT TO PROVISION BY CO TO ARNOT OF WORKING CAPITAL FACILITY, AMOUNT TO R25 MILLION.ARNOT,ARNOT HOLDCO ENTERED INTO SUBSCRIPTION, SHAREHOLDERS AGREEMENT FOR SUBSCRIPTION BY CO OF 50% INTEREST IN ARNOT HOLDCO FOR UPTO R75 MILLION.  Full Article

Wescoal Names Reginald Lavhelesani Demana As Group CEO
Friday, 22 Feb 2019 

Feb 22 (Reuters) - Wescoal Holdings Ltd ::APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND RECONSTITUTION OF THE BOARD.APPOINTMENT OF REGINALD LAVHELESANI DEMANA, A MINING AND RESOURCES SPECIALIST, AS GROUP CEO.APPOINTS HLM MATHE TO ROLE OF ACTING CEO.ELECTED HLM MATHE AS INCOMING CHAIRMAN OF WESCOAL BOARD.BOARD HAS ELECTED HLM MATHE AS INCOMING CHAIRMAN OF WESCOAL BOARD.CURRENT CHAIRMAN, MUTHANYI ROBINSON RAMAITE, WILL STEP DOWN BUT WILL CONTINUE TO SERVE ON BOARD.CURRENT CHAIRMAN MUTHANYI ROBINSON RAMAITE, WILL STEP DOWN BUT WILL CONTINUE TO SERVE ON BOARD AS A NON-EXECUTIVE DIRECTOR.  Full Article

Wescoal Holdings Announces Sale & Purchase Agreement With Aztolinx And Uju
Friday, 15 Feb 2019 

Feb 15 (Reuters) - Wescoal Holdings Ltd ::CATEGORY 2 TRANSACTION ANNOUNCEMENT: SALE AND PURCHASE AGREEMENT WITH AZTOLINX AND UJU.AZTOLINX TO PAY R29 MILLION TO CO IN FULL AND FINAL SETTLEMENT OF FULL BALANCE OF WESCOAL'S LOAN ACCOUNT AGAINST AZTOLINX.TO ACCRUE VALUE FROM PURCHASE AGREEMENT ON AN ON-GOING BASIS FROM OPPORTUNITY TO EXPLOIT COAL RESOURCE EXCLUSIVELY.AGREEMENT DISSOLVES KHANYISA TRIANGLE JV WHERE AZTOLINX WAS ENTITLED TO BUY ALL COAL FROM KHANYISA TRIANGLE RESERVE AT COST-BASED PRICING.WILL PAY A CONSIDERATION OF R185 MILLION TO AZTOLINX FOR AZT KHANYISA INTEREST.THROUGH AGREEMENT, CO EFFECTIVELY GAINS FULL COMMERCIAL VALUE OF KHANYISA TRIANGLE.  Full Article

Wescoal Holdings Sees HY HEPS To Be Between 20.9 & 24.9 Cents
Thursday, 8 Nov 2018 

Nov 8 (Reuters) - Wescoal Holdings Ltd ::HY HEPS WILL BE BETWEEN 20.9 AND 24.9 CENTS (30 SEPTEMBER 2017: 20.2 CENTS).HY EPS WILL BE BETWEEN 23.0 AND 26.5 CENTS PER SHARE (30 SEPTEMBER 2017: 22.5 CENTS).  Full Article

Wescoal Says Plusbay Disposes Of Beneficial Interest In Co's Shares
Wednesday, 27 Jun 2018 

June 27 (Reuters) - Wescoal Holdings Ltd ::PLUSBAY DISPOSED OF A BENEFICIAL INTEREST IN CO'S SHARES, RESULTING IN BENEFICIAL INTEREST IN SHARES HELD BY PEREGRINE DECREASING TO 0 PCT.GUNVOR INVESTMENTS ACQUIRED BENEFICIAL INTEREST IN CO'S SHARES, RESULTING IN BENEFICIAL INTEREST IN SHARES HELD BY GUNVOR INCREASING TO 5.23 PCT.  Full Article

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