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A new high hit today as the CAR deposit gets optimism from the government. Also, results will be out between now and next week and the Senegal Royalty from TGZ.T will be updated in the financials. See today's article:
https://www.businesslive.co.za/bd/world/africa/2018-04-24-central-african-republics-president-tells-un-he-wants-to-accelerate-disarmament/
Central African Republic’s president tells UN he wants to accelerate disarmament
New York — The Central African Republic’s president, Faustin-Archange Touadera, told the UN on Monday that he wants to "accelerate" the disarmament, demobilisation and reintegration of members of armed groups.
"I have instructed my government to work toward reducing the harm and threat of armed groups in the Central African Republic, by accelerating the implementation of the disarmament, reintegration and repatriation program," he said at a meeting concerning the peace process in his country.
Such an operation would require "necessary reforms of the security sector for the reconstitution of national defence forces and interior security forces," Touadera said.
His comments come as the Popular Front for the Rebirth of Central Africa (FPRC), one of the country’s main armed groups, threatened to march on Bangui.
The group said it wanted to act following a UN peacekeeper operation against militia in the volatile PK5 Muslim enclave of the capital.
Touadera urged "dialogue" as the preferred approach to combat the violence that has ravaged his country since 2013.
He stressed that "consolidation of peace … can only be achieved through the restoration of security throughout the territory, the fight against impunity, [and] the restoration of state authority throughout the territory".
Morocco’s UN envoy Omar Hilale, who initiated Monday’s meeting, assured the Central African Republic of the UN’s "support" and said he would soon travel to Bangui.
The country’s authorities control only a small part of the national territory, with a number of armed groups fighting over control of diamonds, gold and livestock in one of the world’s poorest countries.
AFP
CAR: World Bank pledges 12.5b for economic reforms
https://www.journalducameroun.com/en/car-world-bank-pledges-12-5b-for-economic-reforms/
The World Bank will support the Central African Republic (CAR) with 12.5 billion CFA francs to boost economic reforms in the country, the Ministry of Economy and Planning announced Monday.A Ministry of the Economy press release said the Bank’s aid is part of the project to support state consolidation.
The project aims to restore fiscal management and transparency by increasing tax revenue, improving wage management, reducing the use of extraordinary budgetary procedures and strengthening budget control.
Among its objectives is the establishment of a post-transition pro-poor reform programme that can reinvigorate the drivers of economic growth, in key sectors and sub-sectors such as roads, agriculture and telecommunications.
These reforms can contribute to improving the living conditions of the poorest populations, which represent 40 percent of the distribution of social assistance in the CAR.
These economic reforms are contained in the Recovery and Peacebuilding Plan (RCPCA) that the government presented to its partners in 2016 during its donors’ roundtable in Brussels, Belgium, to receive financial support.
CAR: World Bank pledges 12.5b for economic reforms
https://www.journalducameroun.com/en/car-world-bank-pledges-12-5b-for-economic-reforms/
The World Bank will support the Central African Republic (CAR) with 12.5 billion CFA francs to boost economic reforms in the country, the Ministry of Economy and Planning announced Monday.A Ministry of the Economy press release said the Bank’s aid is part of the project to support state consolidation.
The project aims to restore fiscal management and transparency by increasing tax revenue, improving wage management, reducing the use of extraordinary budgetary procedures and strengthening budget control.
Among its objectives is the establishment of a post-transition pro-poor reform programme that can reinvigorate the drivers of economic growth, in key sectors and sub-sectors such as roads, agriculture and telecommunications.
These reforms can contribute to improving the living conditions of the poorest populations, which represent 40 percent of the distribution of social assistance in the CAR.
These economic reforms are contained in the Recovery and Peacebuilding Plan (RCPCA) that the government presented to its partners in 2016 during its donors’ roundtable in Brussels, Belgium, to receive financial support.
SSA.V - Spectra Inc. Year End Results (Financials + MD&A)
Ending December 31st 2017
Note – Q1 2018 results will be released in the next 2-3 weeks with a more accurate picture of financials. This is due to Michael Faye leaving end of 2017(large expense gone) and Glen Campbell taking debt from DVOF to help reduce payments and extend deadline to 2020(Announced December 2017).
Current Stock Price: $0.03
Common Shares: 60,509,971
Insider Holdings: 6,855,591 or 11.3%
Institutional Holdings: 18,133,000 or 30% - DVOF Debenture Holder
ASSETS
Cash: $54,811
Accounts Receivable: $244,200
Inventories: $175,883
Prepaid Expenses: $4,737
Total Assets: $479,631 (2016 - $417,393)
LIABILITIES
Accounts Payable: $140,207
Royalty Debenture: $629,028
Preferred Shares: $556,430
Total Liabilities: $1,325,665 (2016 - $1,486,237)
Performance
Sales: $1,780,609 (2016 - $1,549,11)
Cost of sales: $762,500
Gross Profit: $1,018,109
Debt Extinguishment: $30,423
G&A Expenses: $825,722
Net Income: $222,810 (2016 - $151,912)
MD&A Highlights From Year End Results
Cash Flow Earned In Operations (Page 4)
2014 - $107,922
2015 - $81,815
2016 - $188,897
2017 - $275,065
Revenue
Twelve months ended December 31, 2017 Revenue for the twelve months ended December 31, 2017 increased by 15 percent to $1,780,609 compared to revenue of $1,549,112 for the twelve months ended December 31, 2017. The increase in revenue is attributable to increased sales of all major product lines.
Net income
Year ended December 31, 2017 The net income for the year ended December 31, 2017 was $222,810 or $0.00 per share basic and fully diluted compared to net income of $151,912 or $0.00 per share basic and fully diluted for the year ended December 31, 2016.
Liquidity and Cash Flow
Twelve months ended December 31, 2017 For the twelve months ended December 31, 2017, the Company earned $275,065 in operating activities compared to earning $188,897 in 2016. Non-cash items during the twelve months contributed $75,812 compared to $100,726 in 2016. $150,000 was repaid on loans payable during the year and $150,000 of preferred shares were repurchased for cancellation. These all resulted in a net decrease in cash resources of $24,935 and a cash resources balance at the end of the period of $54,811. During the equivalent twelvemonth period in 2016 the Company showed a net increase in cash resources of $35,897 and a cash resources balance at the end of the year of $79,746
The Company‘s current cash and cash equivalents are expected to meet the anticipated need for ongoing expenses, working capital and capital expenditures. In the event the Company’s cash and cash equivalents are insufficient, the Company may seek additional financing as required to provide working capital, inventory and capital equipment necessary to implement its business plan.
Management believes that the strong functional and competitive capabilities of its Brake Safe®, Brake Inspector®, Termin-8r® Zafety Lug Lock®, Hub Alert® and Arrow Logger™ product lines will improve the Company’s long-term profitability.
OUTLOOK
The Company continues to focus its efforts on expanding the present market for its products while introducing those products into new markets as well as seeking out new products to compliment our other offerings.
The Company’s Brake Safe® product is well established in the Canadian market and inroads are now being made into the lucrative American market. With the implementation of its new, aggressive, safety enforcement and monitoring program, CSA (Compliance, Safety, Accountability), the Federal Motor Carrier Safety Administration is bringing the focus onto unsafe Carriers and unsafe Drivers in the US transportation industry. A significant increase in roadside enforcement, citations and fines for all driver and vehicle violations will impact positively on the sales growth of Brake Safe® products. A program has been developed to educate companies of these enforcement changes and the resulting increased intervention by regulatory agencies in order to capitalize on sales opportunities for Brake Safe®.
The Company’s Termin-8R® product continues to receive strong industry acceptance with a corresponding growth in sales to the transportation segment. The second private label arrangement, introduced in 2010 and made for a major supplier to the commercial transport industry, is proving to be a strong performer with 2017 private label sales, by dollar amount, now being 80% of total Termin-8R® product sales and 27% more than that of the previous year. The company believes that developing new private label arrangements will be a key to the ongoing growth in the sales of this product.
The Company will continue to form strategic distribution alliances to accelerate its sales outside the Canadian marketplace.
The Company may seek sufficient additional funds to provide working capital, inventory and capital equipment as needs arise, but at the moment, cash flow from operations is sufficient to support current needs.
Toronto, Ontario – Spectra Inc. (SSA: TSX VENTURE) reports the release of its
financial results for the twelve-month period ending December 31, 2017. Revenues for
the twelve-month period ending December 31, 2017 were $1,780,609 compared to
$1,549,112 for the same period in 2016. Revenues for the fourth quarter ending
December 31, 2017 were $448,017 compared to $342,461 in 2016.
Net income was $222,810 during the twelve-month period ending December 31, 2017
compared to $151,912 for the same period in 2016.
Spectra Inc., through its subsidiary, Spectra Products Inc., is the Toronto-based North
American designer, manufacturer and distributor of Brake SafeÒ, the visual brake stroke
indicating system, Brake InspectorÒ, the company’s electronic in-cab air brake diagnostic
system and the Termin-8RÒ line of anti-corrosion and extreme pressure lubricants.
Spectra manufacturers and distributes the new Arrow LoggerÒ brake stroke data logger
that has been designed to enhance the performance of the Brake Safe® system. Spectra
distributes Zafety Lug LockÒ, a lug nut retainer that uses the resistance between wheel
nuts to minimize their ability to rotate and loosen, reducing the risk of wheel damage or
wheel loss and Hub AlertÒ, an innovative heat sensing label that provides an alert for
overheating wheel ends, reducing the risk of bearing failure and corresponding
maintenance and repair costs.
Except for the historical information contained herein, this news release contains forward
looking statements that involve risks and uncertainties, including the impact of
competitive products and pricing and general economic conditions as they affect the
Corporation’s customers. Actual results and developments may therefore differ
materially from those described in this release.
On behalf of the Board of Directors,
Glen Campbell, Chairman, Spectra Inc.
Investor Relations: 1-800-308-5255
E-Mail: glen@spectraproducts.ca
Website: www.spectrainc.ca
TGZ Renew's Axmin Inc. Land Package In Senegal. On Page 24 of TGZ.T Annual Information.
Regional Land Package (RLP)
On March 2, 2018, Teranga’s wholly-owned subsidiary executed two (2) mining conventions with the Ministry of Mines
which will govern the terms of two (2) new exploration permits which are expected to be issued in due course. These
new exploration permits, Bransan and Sounkounkou, will comprise the RLP and will have an initial term of four (4)
years.
As background, over the course of 2016 and 2017, the prior 8 permits that comprised the RLP expired, and in advance
of that the Company worked in collaboration with the Senegalese Ministry of Mines to reduce our overall exploration
land package while at the same time filing applications for two new permits that would comprise approximately 2/3 of
the previous RLP that covered nearly 1,000km2.
All exploration permits are granted by ministerial decree and are subject to a mining convention signed between SMC
and the government of Senegal. The gold exploration permits are held in a combination of full SMC ownership and
earn-in joint ventures where SMC is the funding and managing party as outlined in below.
Given the Sabodala Mining Convention signed with the government of Senegal on April 7, 2015 and its provisions
extending to SMC exploration permits, it is anticipated that permits that move into production will be merged into this
mining convention and be bound by its revised fiscal terms regarding royalty rate and tax exoneration periods.
Summary of Joint-Venture Agreements in Place over SMC's Exploration Permits
There are currently two joint venture agreements over SMC’s exploration permits:
• Axmin Joint Venture – covers the areas under the former Sounkounkou and Heremakono permits to the extent
they are included within portions of the new Sounkounkou permit.
• Bransan Agreement – cover the areas under the former Bransan permit to the extent they are included within the
new Bransan permit. Although the new Bransan permit will be fully held by SMC, there is a 30% ownership right
assigned to a Senegalese company, Senegal Nominees Limited.
TGZ Renew's Axmin Inc. Land Package In Senegal. On Page 24 of TGZ.T Annual Information.
Regional Land Package (RLP)
On March 2, 2018, Teranga’s wholly-owned subsidiary executed two (2) mining conventions with the Ministry of Mines
which will govern the terms of two (2) new exploration permits which are expected to be issued in due course. These
new exploration permits, Bransan and Sounkounkou, will comprise the RLP and will have an initial term of four (4)
years.
As background, over the course of 2016 and 2017, the prior 8 permits that comprised the RLP expired, and in advance
of that the Company worked in collaboration with the Senegalese Ministry of Mines to reduce our overall exploration
land package while at the same time filing applications for two new permits that would comprise approximately 2/3 of
the previous RLP that covered nearly 1,000km2.
All exploration permits are granted by ministerial decree and are subject to a mining convention signed between SMC
and the government of Senegal. The gold exploration permits are held in a combination of full SMC ownership and
earn-in joint ventures where SMC is the funding and managing party as outlined in below.
Given the Sabodala Mining Convention signed with the government of Senegal on April 7, 2015 and its provisions
extending to SMC exploration permits, it is anticipated that permits that move into production will be merged into this
mining convention and be bound by its revised fiscal terms regarding royalty rate and tax exoneration periods.
Summary of Joint-Venture Agreements in Place over SMC's Exploration Permits
There are currently two joint venture agreements over SMC’s exploration permits:
• Axmin Joint Venture – covers the areas under the former Sounkounkou and Heremakono permits to the extent
they are included within portions of the new Sounkounkou permit.
• Bransan Agreement – cover the areas under the former Bransan permit to the extent they are included within the
new Bransan permit. Although the new Bransan permit will be fully held by SMC, there is a 30% ownership right
assigned to a Senegalese company, Senegal Nominees Limited.
https://www.journalducameroun.com/en/wb-clears-cfaf5bn-for-car-mining-industry/
The World Bank has approved a CFAF5 billion loan for the Central African Republic to improve the management of its natural resources.Under the terms of the loan agreement signed in Bangui on Saturday by CAR’s minister of Planning and Economy, Felix Moloua, and the World Bank’s country representative, Robert Bougeaoud, will for the next three years, build the capacity of the mining sector staff.
It will also give the country a new mining code which will attract more investors. CAR’s main natural resources are gold and diamonds in addition to other untapped mineral endowments.
https://www.journalducameroun.com/en/wb-clears-cfaf5bn-for-car-mining-industry/
The World Bank has approved a CFAF5 billion loan for the Central African Republic to improve the management of its natural resources.Under the terms of the loan agreement signed in Bangui on Saturday by CAR’s minister of Planning and Economy, Felix Moloua, and the World Bank’s country representative, Robert Bougeaoud, will for the next three years, build the capacity of the mining sector staff.
It will also give the country a new mining code which will attract more investors. CAR’s main natural resources are gold and diamonds in addition to other untapped mineral endowments.
AXM.V Due Diligence Report (Most Recent Financials + MD&A)
Price: $0.05
Common Shares: 130,497,381
Options: 8,240,000
Insider/Institutional Holdings: 82,089,114 (as per Sedar Information Circular)
Axmin Inc. is a gold royalty and production based company focused in Africa. They own 100% interest in the only large scale gold mine in the CAR(Central African Republic), as well as a 1.5% royalty in Senegal on a multi million ounce deposit that TGZ.T(Teranga Gold) put into production at the start of 2016.
Axmin received a $185 million USD loan in 2011 after proving up 2+ million ounces of gold in CAR and was ready to create the first large mine in that country. Shortly after, an internal conflict broke out, suspending operations for several years. Now, the conflict is pretty much over and there are numerous larger institutions backing support for not on the Central African Republic, but also for Axmin’s mine. This is because it can bring immense economic benefit to the country of only 5 million people. In the meantime, the royalty from Senegal has added tremendous cash flow to the company that can help rebuild assets.
The website is currently being updated(as per my conversation with management) but this 2012 presentation has all the information on the CAR gold deposit. Keep in mind that Senegal was not in production at this time, so it’s not included in it.
https://www.yumpu.com/en/document/view/29893170/passendro-gold-project-axmin-inc
AXM will have year end results in April and Q1 2018 results in May, two more quarters of revenue/profit from the gold royalties.
Financials + MD&A (All Assets Are In $USD)
ASSETS
Cash: $1,088,948
Receivables: $278,321
Prepaid Expenses: $2,184
Total Assets: $1,369,453 (2016 - $516,121)
LIABILITIES
Accounts Payable: $2,468,754
Due To Related Parties: $235,737
Liabilities Of Discontinued Operations: $323,103
Total Liabilities: $3,027,594 (2016 - $2,952,285)
2017 & 2016 Revenue Summary (All $USD)
2016 (Q1-Q4)
Royalty Income: $980,380
G&A Expenses: $295,821
Net Income: $684,559
*note – Show loss due to $1 million being spent on increasing CAR acreage in preparation for going back into the country and increasing the reserves
2017 (Q1-Q3)
Royalty Income: $970,855
G&A Expenses: $292,824
Net Income: $705,718
As you can see, AXM is very profitable just on the gold royalty alone. But having the CAR project back would add literally a few billion dollars worth of gold value since all the work has been done on that property and it is ready to go into production. Recent news shows the UN, EU, IMF, Russia and numerous countries/institutions supporting the resumption of business in the country.
MD&A Highlights From Q3 2017
AXMIN is a publicly listed corporation with its shares trading on the TSX Venture Exchange (“TSXV”) under the symbol AXM. The Company is an international mineral exploration and development company with a strong focus on the African continent. AXMIN, through its wholly-owned subsidiaries, has exploration projects in the Central African Republic (“CAR”) and Senegal. The Company’s primary asset is the Passendro gold project situated in the CAR. Due to escalating interreligious conflicts in the CAR, all in-country operations other than administrative functions, carried out in the capital city of Bangui, have been suspended.
With regarding of Axmin owned 20% interest in the Sounkouko and Heremokono explorations permits, on June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After these Royalty Elections, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. Axmin’s royalty rights are intended to continue and survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder. Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit. The total royalty income for the nine months ended September 30, 2017 was $970,855 (2016 - $855,098). The royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic. The Gora deposit is operated by Axmin's joint venture partner, Sabodala Mining Company SARL, a wholly owned subsidiary of Teranga Gold Corp.
Central African Republic – Passendro Gold Project
The Company’s primary asset is the Passendro gold project, which is situated in the centre of a 25-year Mining License (355 sq km) that was awarded to AXMIN in August 2010. At the same time, the Company was also awarded two, three-year renewable Exploration Licenses, Bambari 1 and 2 (1,240 sq km), which ring fence the Mining License and cover a 90 km strike along the highly prospective Bambari greenstone belt.
On December 24, 2012, the Company officially notified the CAR Minister of Mines and Defence of the existence of a state of Force Majeure due to the escalating rebel activity in the country and the necessity to withdraw its field operations. Since that time, AXMIN has not had access to its Passendro project. The Mining Convention of 2006 and the addendum thereto concluded in August 2010 provide the Company with full protection under the circumstances and, in the event that there is a change of Government in the CAR, the existence of Force Majeure stays work related obligations. It is these circumstances that have caused the Company to suspend all Passendro based operations as well as negotiations with prospective lenders. Prior to the Force Majeure, the Company was working towards securing financing to develop the Passendro gold project into CAR’s first modern gold mine. The following is a brief summary of the status at Passendro gold project as at December 2012. A full description of the Passendro gold project can be found in the Company’s audited financial statements for 2014 and 2013, its June 2012 Annual Information Form, the 2011 Bankable Feasibility Study Optimization & Update and its 2009 Mineral Resource Estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). All reports can be accessed under the Company’s profile on the SEDAR website at www.sedar.com.
On November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued Ministerial Order No 245/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year to start the development and pre-production work at the Passendro Gold Project to SOMIO Toungou SA, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one (1) year starting from November 28, 2016 to November 27, 2017. Also on November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No 246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one year from November 28, 2016 to November 27, 2017. In 2016, the Company incurred $1,000,000 for the extension of the licenses of BAMBARI 1 and 2, which is included in accounts payable and accrued liabilities in consolidated statements of financial position as of September 30, 2017. As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at September 30, 2017, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil. This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.
Senegal Joint Venture
On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement. Under the terms of the Agreement, AXMIN had a free-carried interest of $2.5 million, with respect to the Project work costs starting from October 1, 2011, after which both parties are to jointly fund the Project work costs on a pro-rata basis. As of September 30, 2017, the free-carried interest balance was $nil.
The 2012 Agreement with SMC includes, among other things, the following terms: (a) both parties agree that their respective interests (Teranga–80% and AXMIN–20%) in the Project are divided into Target Areas (being areas subject to exploration) and Remainder Areas (areas not yet subject to exploration); and (b) that both parties will retain all respective interests in all of these areas, until an election is made by AXMIN to convert its 20% interest in a Target Area into a 1.5% NSR or Royalty Interest (“Royalty Election”). After AXMIN has made a Royalty Election with respect to the Target Area, SMC will solely fund all finance work costs for each of the Royalty Interests.
On June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After this Royalty Election, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made. Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.
AXM.V/AXMIF Due Diligence Report (Most Recent Financials + MD&A)
Price: $0.05
Common Shares: 130,497,381
Options: 8,240,000
Insider/Institutional Holdings: 82,089,114 (as per Sedar Information Circular)
Axmin Inc. is a gold royalty and production based company focused in Africa. They own 100% interest in the only large scale gold mine in the CAR(Central African Republic), as well as a 1.5% royalty in Senegal on a multi million ounce deposit that TGZ.T(Teranga Gold) put into production at the start of 2016.
Axmin received a $185 million USD loan in 2011 after proving up 2+ million ounces of gold in CAR and was ready to create the first large mine in that country. Shortly after, an internal conflict broke out, suspending operations for several years. Now, the conflict is pretty much over and there are numerous larger institutions backing support for not on the Central African Republic, but also for Axmin’s mine. This is because it can bring immense economic benefit to the country of only 5 million people. In the meantime, the royalty from Senegal has added tremendous cash flow to the company that can help rebuild assets.
The website is currently being updated(as per my conversation with management) but this 2012 presentation has all the information on the CAR gold deposit. Keep in mind that Senegal was not in production at this time, so it’s not included in it.
https://www.yumpu.com/en/document/view/29893170/passendro-gold-project-axmin-inc
AXM will have year end results in April and Q1 2018 results in May, two more quarters of revenue/profit from the gold royalties.
Financials + MD&A (All Assets Are In $USD)
ASSETS
Cash: $1,088,948
Receivables: $278,321
Prepaid Expenses: $2,184
Total Assets: $1,369,453 (2016 - $516,121)
LIABILITIES
Accounts Payable: $2,468,754
Due To Related Parties: $235,737
Liabilities Of Discontinued Operations: $323,103
Total Liabilities: $3,027,594 (2016 - $2,952,285)
2017 & 2016 Revenue Summary (All $USD)
2016 (Q1-Q4)
Royalty Income: $980,380
G&A Expenses: $295,821
Net Income: $684,559
*note – Show loss due to $1 million being spent on increasing CAR acreage in preparation for going back into the country and increasing the reserves
2017 (Q1-Q3)
Royalty Income: $970,855
G&A Expenses: $292,824
Net Income: $705,718
As you can see, AXM is very profitable just on the gold royalty alone. But having the CAR project back would add literally a few billion dollars worth of gold value since all the work has been done on that property and it is ready to go into production. Recent news shows the UN, EU, IMF, Russia and numerous countries/institutions supporting the resumption of business in the country.
MD&A Highlights From Q3 2017
AXMIN is a publicly listed corporation with its shares trading on the TSX Venture Exchange (“TSXV”) under the symbol AXM. The Company is an international mineral exploration and development company with a strong focus on the African continent. AXMIN, through its wholly-owned subsidiaries, has exploration projects in the Central African Republic (“CAR”) and Senegal. The Company’s primary asset is the Passendro gold project situated in the CAR. Due to escalating interreligious conflicts in the CAR, all in-country operations other than administrative functions, carried out in the capital city of Bangui, have been suspended.
With regarding of Axmin owned 20% interest in the Sounkouko and Heremokono explorations permits, on June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After these Royalty Elections, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. Axmin’s royalty rights are intended to continue and survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder. Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit. The total royalty income for the nine months ended September 30, 2017 was $970,855 (2016 - $855,098). The royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic. The Gora deposit is operated by Axmin's joint venture partner, Sabodala Mining Company SARL, a wholly owned subsidiary of Teranga Gold Corp.
Central African Republic – Passendro Gold Project
The Company’s primary asset is the Passendro gold project, which is situated in the centre of a 25-year Mining License (355 sq km) that was awarded to AXMIN in August 2010. At the same time, the Company was also awarded two, three-year renewable Exploration Licenses, Bambari 1 and 2 (1,240 sq km), which ring fence the Mining License and cover a 90 km strike along the highly prospective Bambari greenstone belt.
On December 24, 2012, the Company officially notified the CAR Minister of Mines and Defence of the existence of a state of Force Majeure due to the escalating rebel activity in the country and the necessity to withdraw its field operations. Since that time, AXMIN has not had access to its Passendro project. The Mining Convention of 2006 and the addendum thereto concluded in August 2010 provide the Company with full protection under the circumstances and, in the event that there is a change of Government in the CAR, the existence of Force Majeure stays work related obligations. It is these circumstances that have caused the Company to suspend all Passendro based operations as well as negotiations with prospective lenders. Prior to the Force Majeure, the Company was working towards securing financing to develop the Passendro gold project into CAR’s first modern gold mine. The following is a brief summary of the status at Passendro gold project as at December 2012. A full description of the Passendro gold project can be found in the Company’s audited financial statements for 2014 and 2013, its June 2012 Annual Information Form, the 2011 Bankable Feasibility Study Optimization & Update and its 2009 Mineral Resource Estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). All reports can be accessed under the Company’s profile on the SEDAR website at www.sedar.com.
On November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued Ministerial Order No 245/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year to start the development and pre-production work at the Passendro Gold Project to SOMIO Toungou SA, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one (1) year starting from November 28, 2016 to November 27, 2017. Also on November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No 246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one year from November 28, 2016 to November 27, 2017. In 2016, the Company incurred $1,000,000 for the extension of the licenses of BAMBARI 1 and 2, which is included in accounts payable and accrued liabilities in consolidated statements of financial position as of September 30, 2017. As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at September 30, 2017, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil. This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.
Senegal Joint Venture
On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement. Under the terms of the Agreement, AXMIN had a free-carried interest of $2.5 million, with respect to the Project work costs starting from October 1, 2011, after which both parties are to jointly fund the Project work costs on a pro-rata basis. As of September 30, 2017, the free-carried interest balance was $nil.
The 2012 Agreement with SMC includes, among other things, the following terms: (a) both parties agree that their respective interests (Teranga–80% and AXMIN–20%) in the Project are divided into Target Areas (being areas subject to exploration) and Remainder Areas (areas not yet subject to exploration); and (b) that both parties will retain all respective interests in all of these areas, until an election is made by AXMIN to convert its 20% interest in a Target Area into a 1.5% NSR or Royalty Interest (“Royalty Election”). After AXMIN has made a Royalty Election with respect to the Target Area, SMC will solely fund all finance work costs for each of the Royalty Interests.
On June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After this Royalty Election, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made. Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.
Canaf Group Inc Q1 2018 Financial Results + Management Highlights
(All Information Taken From SEDAR)
Price: $0.095
Common Shares: 47,426,195
Options/Warrants: Nil
Insider Holdings: 15,391,328 or 32.5% as per www.Sedi.ca
Website: www.canafgroup.com
Financials (All in US Dollars – Should Be Converted into CDN Dollars for accurate value)
ASSETS
Cash: $394,520
Trade Receivables: $2,678,248
Sales Tax Receivable: $17,942
Inventories: $895,361
Prepaid Expenses: $31,114
Property & Equipment: $1,172,010
Intangible: $1
Total Assets: $5,189,196 USD
LIABILITIES
Trade & Other Payables: $2,211,185
Income Tax Payable: $119,979
Current Portion Of Bank Loan: $310,819
Remaining Portion Of Bank Loan: $85,760
Total Liabilities: $2,727,743
Asset/Debt Ratio: 1.9:1
Q1 2018 Sales
Revenue: $3,273,213
Quarterly Net Income: 552,815 USD - $707,440 CAD
Q1-Q4 2017 Sales
Revenue: $10,699,117
Yearly Net Income: $439,664 USD - $562,640 CAD
*Note : Canaf Group is currently on track to have a record profit year, already exceeding net income from 2017. $475,000 CAD is equivalent to $0.01 cent earnings. Most profitable junior companies trade in a 8-12 multiple range, making Canaf group undervalued based on the last five quarters.
Management Discussion Highlights From Q1 2018
OVERALL PERFORMANCE AND OUTLOOK
The results above shows the sale recovery and demand of the Corporation’s product which started in Q3, 2016. Sales for the three month period ended January 31, 2018 increased by 45% in comparison to the previous quarter and is expected to increase by a further 40% in Q2, as more confidence returns to the markets. (Page 5)
The outlook and profitability of the Corporation remains strong and the Corporation expects to continue to generate positive free cash flow during the fiscal year-end 2018 and, as it accumulates cash and reduces its gearing and increases its efficiencies, will continue to look at investment in related business opportunities in South Africa, a country which many now regard with a very positive outlook
The three month period ended 31 January 2018 saw the Corporation continue to recover from significantly reduced sales between mid-2015 to mid-2016, when depressed global commodity prices affected the Corporation’s customers negatively.
Revenue for the three month period was $3,273,213 (2017 - $2,991,706) a $281,507, 9% increase, and the Corporation returned to profitability with net comprehensive income for three month period ended January 31, 2018 of $552,815 (2017 - $198,221) a $354,594, 179% favourable variance. The results reflect the previously reported turnaround from increased demand with sales remaining strong.
During the quarter, Southern Coal experienced a further increase in demand from its customers, in comparison to that of Q4, 2017 and the Corporation can confirm that Q2, 2018 will reflect a further increase to Southern Coal’s maximum capacity.
The Corporation also remains focused on completing a Broad-Based Black Economic Empowerment (“B-BBEE”) transaction for Southern Coal, by mid-June 2018. The B-BBEE is a form of economic empowerment initiated by the South African government with the goal to distribute wealth across as broad a spectrum of previously disadvantaged South African society as possible. A new partner has been identified and initial terms of the agreement, which will remain much the same as the previously agreed transaction, will most probably be announced by the end of April 2018. The Corporation remains confident that it will achieve its B-BBEE goals during the current fiscal year and we remain optimistic of the opportunities that will arise from such a transaction.
The Corporation reported net income o f $187,126 (2017 - $197,691) a $10,565 unfavourable variance of over the previous period. The reduction in GM and profit are due to increased feedstock costs in Q1 and a one month delay in the corresponding sale price increase, a general increase in maintenance cost and investment into B-BBEE training projects in Q1 which represent approximately 75% of the projected annual spend for B-BBEE
The Corporation has an agreement to lease premises for its coal processing plant in South Africa for a term of ten years, expiring on December 31, 2020. The agreement offers the Corporation, in lieu of rent, feedstock coal to be delivered to its adjacent premises, which it purchases at market price. Should the Corporation decide to purchase feedstock coal from an alternative supplier which the lessor is otherwise able to provide, then a monthly rent of Rand 200,000 ($16,819) is payable. To date, the Corporation has not been required to pay any rent for the premises as it has continued to purchase feedstock coal from the landlord.
The bank loan bears interest at 10.25% per annum, matures on January 7, 2019, and is secured by the Company’s furnace acquired with the proceeds from the loan. The bank loan is repayable in blended monthly payments of Rand 391,624 ($32,934 translated at January 31, 2018 exchange rate)). During the three month period ended January 31, 2018, the Company incurred interest expense totaling $Nil (January 31, 2017 – $15,322).
Canaf Group earns $552,815 (U.S.) in Q1 2018
2018-03-28 14:49 MT - News Release
CANAF ANNOUNCES FINANCIAL RESULTS FOR Q1 2018
Canaf Group Inc. has released its financial statements, and management discussion and analysis for the three-month period ended Jan. 31, 2018.
The corporation is very pleased to confirm continued positive results for the quarter, which demonstrate the continued strong performance of the corporation's South African businesses.
Revenue for the quarter increased to $3,273,213 (U.S.); an increase of 9.4 per cent compared with the same quarter last fiscal year, and up 45 per cent from the previous quarter ended Oct. 31, 2017. During the quarter, the corporation recorded a net comprehensive income of $552,815 (U.S.) (2017 $198,221 (U.S.)) and adjusted earnings before interest, taxes, depreciation and amortization of $238,961 (U.S.) (2017 $569,300 (U.S.)).
The corporation expects demand to further increase for Q2, 2018, as demand for Quantum's product remains strong in South Africa.
For more details and discussion on the results, the financial statements and management discussion and analysis can be viewed on SEDAR or on the company website.
About Canaf Group Inc.
Canaf is a public company listed on the TSX Venture Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African-based company that owns 100 per cent of Southern Coal Pty. Ltd., a company that produces a high-carbon, devolatized anthracite.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
Lots of volume today and very little cheap stock is left to buy as we wait for Q1 2018 results to come out next week. Company will keep adding positive cash flow as coking coal supply is diminishing around the world. Major players like BHP, Teck, Acertol, are all having production issues and demand for steel is increasing.
1 / 5,000 0.12 -- 0.125 80,500 / 2
1 / 3,500 0.105 -- 0.13 160,000 / 4
3 / 42,000 0.10 -- 0.15 14,000 / 2
1 / 50,000 0.095 -- 0.175 20,000 / 1
0 / 27,000 0.09 -- 0.18 62,500 / 2
1 / 10,000 0.085 -- 0.20 51,500 / 1
1 / 4,000 0.075 -- 0.29 40,000 / 2
3 / 22,000 0.07 -- -- --
2 / 110,000 0.065 -- -- --
1 / 20,000 0.06 -- -- --
Multi year high hit today and we got Q1 2018 results coming out in two weeks or less.
Here are some recent articles over the last two weeks in regards to Anthracite Coal.
1) http://triblive.com/state/pennsylvania/13369159-74/coal-production-seesawing
Note: The United States is the second largest coal producer in the world and Anthracite barely makes up any of it's production.
Key Lines: Weekly anthracite production fell by about 2,000 tons to 38,000 tons and is about 11.1 percent behind the 2017 year-to-date total. National coal production in 2018 is about 6.8 percent behind 2017 production.
2) https://www.workboat.com/blogs/maritime-matters/can-coal-exports-fill-void/
Key lines: A curious example is the shipment of 700,000 tons of steam coal from Pennsylvania and West Virginia to Ukraine to displace Russian coal imports. Half of the tonnage, 350,000, will be anthracite coal that originated in central Pennsylvania in the heart of old hard coal country. There is some optimism in the coal sector that increased exports will take up some of the slack from the domestic markets. However, as long as the U.S. is a swing export coal supplier, expect the continuation of the ups and downs in the export market characterized by relatively short-term contracts and small volumes cited in the aforementioned deals.Until the U.S. can be a low cost producer and shipper, export coal will not become a sustaining sector to supplement the permanent loss of domestic coal.
3) https://www.platts.com/latest-news/coal/kiev/ukraines-coal-stocks-at-power-plants-down-26-26898427
Key Lines: Reserves of anthracite at power plants dropped 8.9% to 601,100 mt, while stocks of thermal coal rose 1.4% to 866,700 mt.
4) https://www.kyivpost.com/article/opinion/op-ed/michael-getto-renewables-reinforce-ukraines-energy-independence.html
Key Lines: Many of the coal mines in the Donbass are now under defacto Russian military occupation, which creates legal and ethical obstacles to the use of this coal. As a result, Ukraine’s has resorted to importing anthracite coal from the United States and South Africa; but, this is an expensive option for a country currently surviving on a financial lifeline from the International Monetary Fund
5) https://economics.unian.info/10013294-reuters-how-a-u-s-coal-deal-warmed-ukraine-s-ties-with-trump.html
Key Lines: Along with South Africa, Ukrainian-owned mines in Russia have been the main source of anthracite imports but this is fraught with uncertainty. In the past Moscow has cut off gas supplies to the country over disputes with Kyiv, while the Ukrainian government considered forbidding anthracite imports from Russia in 2017 although no ban has yet been imposed. Overall anthracite imports shot up to 3.05 million tonnes in the first 11 months of 2017 from just 0.05 million in all of 2013 - the year before the rebellion erupted.
CAF 10 Year Performance Chart
Year Revenue($USD) Profit/Loss $USD) Assets ($USD) Liabilities ($USD) Asset/Debt Ratio 52 Week High - Low
2007 $6,193,884 -721,465.00 $7,203,120 $4,822,980 1.493499869 $0.38 - $0.08
2008 $9,038,397 -2,639,324.00 $3,134,842 $3,336,654 0.939516654 $0.16 - $0.02
2009 $4,561,417 -539,609.00 $3,270,899 $3,239,579 1.009667923 $0.07 - $0.02
2010 $11,807,383 551,552.00 $3,734,633 $3,006,923 1.242011518 $0.09 - $0.02
2011 $13,336,725 574,766.00 $3,704,897 $2,673,936 1.38555934 $0.14 - $0.06
2012 $10,882,074 $126,169 $4,029,063 $2,871,933 1.402909817 $0.10 - $0.05
2013 $14,969,633 $557,797 $4,141,224 $2,426,297 1.71 $0.09 - $0.05
2014 $13,257,224 $201,330 $3,597,561 $1,681,304 2.14 $0.10 - $0.07
2015 $9,156,927 -$285,218 $3,512,225 $1,881,186 1.87 $0.08 - $0.04
2016 $4,703,528 -$162,065 $2,729,318 $1,260,344 2.17 $0.06 - $0.04
2017 $10,699,117 $439,664 $3,315,232 $1,406,594 2.36 $0.11 - $0.05
Notes 1) 2008: The company wrote off it's Uganda investment, taking a major asset hit
2) 2012: Drop in revenue was caused by A) Customer Issues 2) SA National Strikes 3) Rand Devaluation
3) 2013: Certain write downs and one main customer down for 4 months reduced net income
4) 2015: Production issues, strong USD and weaker Rand. CAF bank loan dropped stock price
5) 2016: Sales down from new plant being installed. Q4 2016 marked turnaround
6) 2017: Losses from 2015-2016 recovered, strongest asset/debt ratio in a decade
6a) Rand & Coking Coal prices at multi year high. Bank debt nearly paid off. Stock price still inexpensive
CAF.V(Canaf Group Inc.) Year End Results. Financials + MD&A
Ending October 31st 2017, Released February 23rd 2018
Note – Q1 2018 Results Will Be Released End Of March 2018
All Information Below Can Be Found On SEDAR
Price: $0.09
Common Shares: 47,426,195
Warrants/Options: 0
Website: www.canafgroup.com
Financials (ALL IN US DOLLARS)
ASSETS
Cash: $453,609
Trade Receivables: $1,314,828
Sales Tax Receivable: $357
Inventories: $472,221
Prepaid Expenses: $36,220
Property, Plant & Equipment: $1,037,996
Intangible: $1
Total Assets: $3,315,323
LIABILTIES
Trade Payables: $757,875
Sales Tax Payable: $32,010
Income Tax Payable: $77,805
Current Portion Of Bank Loan: $310,819
Remaining Bank Loan: $106,063
Deferred Tax Liability: $122,022
Total Liabilities: $1,406,594
Asset/Debt Ratio: 2.36:1
Revenue
Sales: $10,699,117
Cost: $9,476,007
Gross Profit: $1,223,110
G&A Expense: $417,951
Bank Interest: $86,837
Total Expenses: $504,788
Income: $718,322
Interest Income: $17,962
Income Tax Expense: $194,476
Net Income: $541,808
Foreign Currency Loss: $439,664
Converted From USD to CAD
$439,664 X 1.25 = $549,580 CAD
Earnings Per Share: $549,580 / 47,426,195 = $0.012 cents
MD&A Highlights
OVERALL PERFORMANCE AND OUTLOOK
The outlook and profitability for the coming year remains strong and the Corporation expects to continue to generate positive free cash flow during the fiscal year-end 2018 and, as it accumulates cash and reduces its gearing and increases its efficiencies, will continue to look at investment in related business opportunities in South Africa; a country which many now regard as one with a very positive outlook for 2018 following its recent change of President.
The fiscal year ended 31 October 2017 saw the Corporation recover from significantly reduced sales between mid-2015 to mid-2016, when depressed global commodity prices affected the Corporation’s customers negatively, which was reflected in one customer closing down for 7 months of the year and another reducing demand by 50%
Revenue for the year ended October 31, 2017 was $10,669,117 (2016 $4,703,528) a $5,965,589 127% increase, and the Corporation returned to profitability with net comprehensive income for year ended October 31, 2017 of $439,664 (2016 net comprehensive loss $162,065) a $601,729 favourable variance. The results reflect the previously reported turnaround from increased demand with sales remaining strong.
During 2016, the Corporation commissioned a new, and more efficient, calcining facility, which began to produce saleable product during Q2, 2016. The new facility reduced operating costs and improved margins and profits as demand also increased. Management believes it is in a stronger position with Quantum being one of a few suppliers of a low volatile reductant, a situation, which has allowed the Corporation to emerge as a dominant player in South Africa
Operations generated $587,509 in cash during the year ended October 31, 2017 (2016 used $11,722) as the Corporation recovered from 8 months of depressed sales and demand for their product, which started in Q3, 2015.
The bank loan bears interest at 10.25% per annum, matures on January 7, 2019, and is secured by the Company’s furnace acquired with the proceeds from the loan. The bank loan is repayable in blended monthly payments of Rand 391,624 ($27,690 translated at October 31, 2017 exchange rate). During the year ended October 31, 2017, the Company incurred interest expense totaling $86,837 (2016 – $71,721).
UPDATE ON UGANDAN CLAIM AGAINST KILEMBE MINES LIMITED
In August 2006, Canaf, then known as Uganda Gold Mining, announced the termination of any further investment into its Kilembe Copper-Cobalt Project in Uganda. Since 2007, the Corporation has been engaged in an Arbitration with Kilembe Mines Limited, (“KML”), whereby the Corporation seeks general damages, special damages and costs of the Arbitration from KML for breach of contract.
The legal work, carried out my MMAKS Advocates, Kampala, against KML is at no cost to the Corporation, but any award in favor of the Corporation will be distributed to both MMAKS and Canaf. Despite the fact that the claim against KML Corporation remains active, the Corporation is unable to give an indication of either the quantum or any likely date by which the Arbitration will be concluded.
CAF made $190K net income in Q4 except there was a $244K tax expense for the year, plus $40K bank loan interest. On top of that, CAF was able to pay $300K of the $400K bank loan they had. This was used to buy new equipment in 2014. Impressive that they were able to put down $540K US and pay off $1.15 of the $1.25 million USD borrow(with interest) and not diluting the stock by raising funds. Plus keep in mind that 2015-2016 were not very good years either. This stock deserves much more credit.
November 18, 2014, Vancouver, British Columbia - Canaf Group Inc. (TSXV: CAF) ("Canaf") the Canadaregistered mining group, is pleased to announce agreed terms for the acquisition of a new processing plant worth R20 million (South African Rand) for its South African owned coal beneficiating operation, Quantum Screening and Crushing (Pty) Ltd., (“Quantum”). The new anthracite beneficiating facility, (“Calciner 3”) will be installed and commissioned at its operation near Newcastle, KwaZulu Natal, South Africa. Calciner 3 is being purchased from a South African company specialising in furnace technologies. In May 2014 Quantum ran a successful trial of material through Calciner 3, and as a result Quantum signed a deal earlier this month to acquire the asset, subject to financing. Payment terms for the Acquisition and Loan Facility The value of the acquisition is R20 million (approximately US$1.8million). During November 2014, the Company paid a deposit of R6 million (approximately US$0.54million) from cash and working capital. The balance of the acquisition will be paid by a loan facility of R14million (approximately US$1.25million), which will be provided in payments as and when Quantum requires it, and borrowed over a period of 48 months, however it is the intention of the Company to pay down the loan within 24 months. The loan facility will be provided by Quantum’s existing bank, ABSA Business Bank, South Africa. In addition to the payments for the acquisition, the Company expects to invest approximately R2 million (US$0.18million) in civil and electrical infrastructure for the new facility; this investment will come from working capital. Motivation for New Calciner 3 The purchase of Calciner 3 is not only due to an expected increase in demand for Quantum’s product looking forward to 2015, but the new plant will also be environmentally compliant and significantly more efficient. Increased demand is expected to come from the newly refurbished ArcelorMittal Newcastle steel facility as well as an expected new contract during the course of 2015. Calciner 3 will produce the same product as Quantum’s existing two plants, however, the design is far more environmentally beneficial and does not use electricity as its source of heat. This new, autogenous (selfsustaining) calciner will offer the following benefits to the Company, which include: 1. Reduction of electricity consumption by 95% for each tonne of calcine product produced. 2. Increase of current capacity of Quantum by up to 60%. 3. Significant environmental improvements compared to Quantum’s existing calciners. The Company plans to commission the new facility, Calciner 3, in May 2015. Subsequent to this, the Company plans to then convert Quantum’s existing two calciners to a similar design as Calciner 3; this will be scheduled in a way that will safeguard sales to existing customers and is expected to commence during the fiscal year 2015- 2016.
Canaf Group earns $541,808 (U.S.) in fiscal 2017
2018-02-23 13:13 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR YEAR ENDED 31 OCTOBER 2017
Canaf Group Inc. has released its financial statements and management's discussion and analysis for the year ended Oct. 31 2017.
For the year, revenue increased to $10,669,117 (U.S.) from $4,703,528 (U.S.) the previous year, and the corporation recorded a net profit of $541,808 (U.S.) in comparison with a loss of $179,155 (U.S.) the previous year. EBITDA (earnings before interest, taxes, depreciation and amortization) for the year was recorded at $1,213,806 (U.S.) or approximately $1,557,269 (Canadian).
The corporation is extremely pleased with the promising results, which demonstrate a clear increase in demand for its calcine product, which is expected to remain throughout the current fiscal year ending Oct. 31, 2018.
Christopher Way, chief executive officer, stated: "The annual results reflect a significant turnaround in comparison to a depressed previous year, and position the company well for the current year, during which we plan to complete our broad-based black empowerment program, further improve on making efficiencies in the business, and also looking at potential investment opportunities in southern Africa."
For more details and discussion on the results, the financial statements and management discussion and analysis can be viewed on SEDAR or on the company's website.
About Canaf Group Inc.
Canaf is a public company listed on the TSX Venture Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African-based company that owns 100 per cent of Southern Coal Pty. Ltd., a company that produces a high-carbon, devolatized anthracite.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
Canaf terminates B-BBEE agreement with Elkhat
2018-02-21 14:13 MT - News Release
Mr. Christopher Way reports
Canaf announces termination of B-BBEE Agreement for South African Subsidiary
Canaf Group Inc. has terminated the agreement to sell 30 per cent of its subsidiary to Elkhat Pty. Ltd., as part of its Broad-Based Black Economic Empowerment, transaction. Further to the announcement on Jan. 29, 2018, the company advises that a letter of termination has been issued to Elkhat Pty. Ltd., after the parties failed to agree final terms of the transaction. The company remains confident that it will complete its B-BBEE transaction for its South African subsidiary, Southern Coal Pty. Ltd., with a new partner, which has already been identified. The terms of any new agreement will remain the same in principal and the company expects the new transaction to close by May 18, 2018.
Christopher Way, chief executive officer of Canaf, states, "Despite Elkhat and the company not being able to agree on final terms of the transaction, the company remains confident that it will achieve its B-BBEE goals during the current fiscal year and we remain optimistic of the opportunities that will arise from such a transaction."
About Canaf Group Inc.
Canaf is a public company listed on the TSX Venture Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African based company that owns 100 per cent of Southern Coal Pty. Ltd., a company that produces a high-carbon, devolatized anthracite.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
South African Rand Hits 3 Year High After Zuma Resigns
http://uk.businessinsider.com/south-africa-rand-soars-after-jacob-zuma-resigns-2018-2
Remember, the stronger the Rand, the more CAF profits convert into USD. Plus the new leadership is pro business and will make the economy stronger.
Here are three important factors that will significantly increase the value of CAF:
1) Sales. As reported in their last MD&A, sales are lower than usual apparently, but prices are much higher. However, the next quarters coming up will show increased sales. From the MD&A:
For the 9-month period ended July 31, 2017, the Corporation reported a net income of $595,716 (C$741,080) compared to a net loss of $315,919 for same period the previous year. The increase in net income was directly related to an increase in sales during the period, as well as improved profit margins generated from efficiencies generated from Quantum s new calcining facility, which only started fully operating in August 2016. Revenue increased to $8,443,667, in comparison to $2,907,198, for the same period last year. The significant increase in sales is due to a combination of unusually low sales during the last fiscal period combined with increased prices per sales unit. The Corporation expects to report a slight increase in Sales during Q4 and expects fiscal year end 2018 to reflect increased demand as the Corporation hopes to bring on a new customer.
2) Price of Anthracite(coking coal) for steel manufacturing. This is important as increased sales and higher commodity prices go hand and hand. From the chart below, coking coal is near multi year high's. Problem with the chart is it's general coking coal pricing and not showing the premium CAF gets for it's Anthracite coal, which is rarer and more valuable.
https://ca.investing.com/commodities/coking-coal-futures
3) Rand/USD/CAD Exchange rate. There are many public companies that have good sales, but the exchange rate can either make of break them. In our case, the Rand is getting stronger as a new pro business leader is sworn in and Jacob Zuma leaves. But not only that, the CAD is getting weaker at the same time. This means that once Canaf converts their Rand into USD, then it must be converted into CAD to reflect it's proper value on the TSX Venture, thus giving us an additional premium. The rand is still near a 2 year high versus the USD.
http://www.xe.com/currencycharts/?from=USD&to=ZAR&view=2Y
AirTest Enjoys Huge Response at the 2018 AHR Expo to its Unique Wireless Product Family That Increases Energy Efficiency of Commercial Buildings
Delta, British Colombia (FSCwire) - AirTest Technologies (TSXV: AAT) is pleased to announce that it just rolled out its latest family of wireless/internet-connected products at the International AHR Show in Chicago (Jan 22 to Jan 24, 2018). These products are designed to improve the energy efficiency of existing commercial and institutional buildings. According to George Graham, President of AirTest, “I believe this was the most positive trade show we have ever attended, with our extended product offering being so well received. We were able to show how easily energy efficient upgrades, previously only accessible to new construction, could be integrated into existing buildings, which represent some 99% of the building stock.”
The show allowed the company to highlight its energy efficient building retrofit market focus for 2018. Target markets include big box retail, supermarkets, entertainment facilities, schools, universities, and office spaces. A recent development of a very economical retrofit package for smaller sized retail stores opens a very large market for energy saving in retail chains. Key advantages are fast installation time and low installation cost (compared to wired solutions):
The TR9277-EO: A zero energy, light harvesting, wirelessly communicating, CO2, temperature and RH sensor that can easily be integrated into existing buildings that have BACnet® based building control networks. Energy savings of 20-50% occur because of demand-controlled-ventilation (DCV) where outside air is controlled based on real time occupancy
The TR4601 Outdoor Air Monitor: This is a rugged, long lasting and stable weather-station-quality outdoor sensor that measures temperature, humidity, absolute pressure and calculates important control parameters such as dew point, mixing ratio and enthalpy. This Bluetooth communicating sensor can be placed in a central location and broadcast sensor values to control all equipment on a rooftop or in a building complex. This central monitoring product overcomes the lack of accuracy and long life in most HVAC equipment that result in significant energy losses over time.
RTUiLink Retrofit Kits: AirTest has developed a number of WiFi and Bluetooth communicating sensors and gateways that are designed to significantly improve the performance of the existing 20 million Rooftop Air Handling units (RTU’s) in North America. These sensors offer the ability to quickly and inexpensively retrofit existing RTU’s by utilizing the newest sensor technology available to significantly improve the performance of existing equipment for free cooling, DCV and control of building pressure. Wireless power monitoring is also available to monitor real time energy performance.
AirTest has also been working with Belimo Inc. a leading provider of control equipment for HVAC equipment. At the show, AirTest featured a wireless performance enhancement kit for Belimo’s ZIP Economizer Control that can easily add CO2 DCV, central outdoor air monitoring and building pressurization control. A special AirTest thermostat is also enabled to display over 30 RTU fault conditions that can be detected by the ZIP Economizer. Display of RTU equipment faults is currently a requirement of the 2016 California Building code and this is one of the few products that can meet this requirement. Timely detection of equipment faults has been determined to save significant energy by maintaining equipment efficiency.
All of AirTest wireless products have the capability of being connected to the internet where operational data and alarms can be displayed. Text and email messages can also be automatically generated to indicate alarms and the type of fault detected allowing cost effective dispatch of repair personnel.
According to Graham, “The strong response at and after the show to our offering indicates that we have identified a strong market need for tools that allow for easy and low cost energy efficient upgrades of existing equipment for a wide range of buildings. AirTest anticipates that these tools plus others products to be introduced later this year will enable us to be a leader in helping building owners save energy and optimize the operating efficiency of their equipment on an ongoing basis.”
Sample AirTest AHR handouts can be downloaded here: www.AirTest.com/ds/AHR2018.pdf
About AirTest: AirTest Technologies Inc. (www.airtest.com) is a Green-Tech company specializing in sensors that improve commercial building operating efficiency and at the same time create energy savings. These sensors are all based on technical innovations developed in the last ten years, and comprise a growing second wave of energy saving technologies that will make a significant contribution to the Sustainable Buildings Program. AirTest offers its products to leading-edge building owners, contractors and energy service companies targeting the buildings market. AirTest also provides energy cost reduction solutions to building equipment and controls manufacturers who incorporate AirTest sensor components in their products.
# # #
Statements about the Company’s future expectations and all other statements in this press release other than historical facts are “forward looking statements”. The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from the expected results.
For further information, please contact:
Mr. George Graham, President
Phone: (604) 517 3888
Fax: (604) 517 3900
Email: ggraham@airtesttechnologies.com
Website: www.airtesttechnologies.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the associated document to this release, please click on the following link:
public://news_release_pdf/AirTest02082018.pdf
To view the original release, please click here
Source: ATI Airtest Technologies Inc. (TSX Venture:AAT)
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Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2018 FSCwire
© 2018 Canjex Publishing Ltd. All rights reserved.
Washington Cardroom Stats From June 2017
This is delayed by a couple quarters, but it shows how well TNA is doing compared to the competitors in the area. TNA owns 4 casinos (Chips, Goldies, Palace, Riverside) and they are placed in the following rank in terms of sales(out of 71 total)
https://www.wsgc.wa.gov/sites/default/files/public/FY%202017%20Card%20Room%20Report%20vF.PDF
2 THE PALACE 67-00010 $13,549,539 $0 $13,549,539 $1,354,953
5 RIVERSIDE CASINO 67-00187 $11,190,876 $0 $11,190,876 $1,119,087
11 GOLDIE'S SHORELINE CASINO 67-00016 $7,259,130 $0 $7,259,130 $725,914
18 CHIPS CASINO/LAKEWOOD 67-00020 $5,777,681 $0 $5,777,681 $635,545
TNA website for details http://www.evergreengaming.com/us/
Coking coal price chart - https://ca.investing.com/commodities/coking-coal-futures
Near a multi year high. When you factor in all the current events that are bullish for the price, this is a perfect storm for any company in this sector.
8 Recent Bullish Articles On Coking Coal
1) Decmber 18th 2017 - Iron ore, coking coal prices are soaring
Link: http://www.mining.com/iron-ore-coking-coal-prices-soaring/
2) January 18th 2018 - India Steel Ministry Seeks Abolition of Metallurgical Coal Import Tax
LInk: https://www.bloomberg.com/news/articles/2018-01-18/india-steel-ministry-seeks-abolition-of-met-coal-import-tax
3) January 29th 2018 - Macquarie Bank has upgraded its price forecasts for iron ore and coal
Link: https://www.businessinsider.com.au/macquarie-bank-iron-ore-coal-price-forecasts-2018-1
4) January 23rd 2018 - Coking coal prices supported by mine, logistics issues: Seaport Global
Link: https://www.platts.com/latest-news/metals/london/coking-coal-prices-supported-by-mine-logistics-10184570
5) January 18th 2018 - Coking coal in focus on lower production forecasts
Link: https://www.ft.com/content/8a03f2ea-fc63-11e7-9b32-d7d59aace167
6) February 2nd 2018 - Coking coal outlook bright for 2018 on robust Chinese demand
Link: https://www.metalbulletin.com/Article/3784856/INTERVIEW-Coking-coal-outlook-bright-for-2018-on-robust-Chinese-demand-recovery-in-EuropeSP-Angels.html
Two major producing mines are currently out of commission which is driving prices even higher
7) January 26th 2018 - Canada's Teck sees 200,000 mt coking coal loss from Elkview plant issue
LInk: https://www.platts.com/latest-news/coal/london/canadas-teck-sees-200000-mt-coking-coal-loss-21167480
8) January 17th 2018 - South32 Q2 coking coal output falls 43 pct as mine outage weighs
Link: https://www.reuters.com/article/south32-output/update-1-south32-q2-coking-coal-output-falls-43-pct-as-mine-outage-weighs-idUSL3N1PB5IS
Also in news, there are numerous countries defying sanctions such as China, Russia, Taiwan, Vietnam and others to try and secure supplies of coking coal from North Korea. If countries are that desperate for this type of coal and willing to risk backlash from it, you know the world supply is diminishing quickly.
Why did I post all these articles? Because CAF.V is in the right place at the right time and their last 9 months show this because of the tremendous growth in sales and profits associated with the supply crunch. Stock will be one of the gems of the TSX-V in 2018
This article is from 2013, but it explains the difference between the type of coals that exist. CAF sells Metallurgical coal and the rarest and highest quality form of it called Anthracite.
https://globalnews.ca/news/627069/the-coal-facts-thermal-coal-vs-metallurgical-coal/
Why is the new deal that CAF made crucial for growing it's business?
I was reading over CAF's recent news and I overlooked something. CAF's subsidiary was purchased for $1.8 million USD(30%) in preferred shares in a private company, rather than cash. So why would CAF do this? There's a very good reason and it explains this in their last MD&A and in this news release. In South Africa, there is a movement where they want companies owned by black individuals to be part of white companies. This is not mandatory but optional. If you get a certain amount of black employee's and companies to join your business, you get rated on levels. The key level is as mentioned by CAF, (Level 4). Once this is reached, a whole bunch of new opportunities actually open up to the company. If CAF is looking for more big industry players and they already have BHP Bhiliton and ArcelorMittal(both multi billion dollar companies) as stated on their website, then sky is the limit for this company.
Below is a link and list of new opportunities available once you get to this stage:
http://cenfed.co.za/benefits-bbbee-certificate/
Obtaining a Broad-Based Black Economic Empowerment (BBBEE) certificate for your company may seem like a lot of hard work, tedium and jumping through bureaucratic hoops – but it doesn’t have to be. A certificate can give you an edge over competitors and open up a lot of doors for business growth – and it might be easier to acquire than you think.
BBBEE policies are set out in the BBBEE Act (No. 53 of 2003) and reinforced by the Codes of Good Practice (last revised in 2015). Under this legislation, it is not compulsory for a business to obtain a BBBEE certificate – it is an entirely voluntary process. However, a certificate brings with it a lot of benefits – particularly for Qualifying Small Enterprises (QSEs). A QSE is a company that has an annual turnover of between R10 million and R50 million.
One of the biggest benefits of having a BBBEE certificate is being able to conduct business with government sectors (including municipalities) and public entities. A certificate allows a company to tender – and the higher the level of your certificate, the better your chances of winning. There are eight levels of BBBEE compliance, with Level 1 being the highest and most desirable.
Other advantages of having a BBBEE certificate include having a better chance of securing contracts with large companies and big industry names, because they are encouraged to do business with smaller BBBEE-compliant companies. A certificate allows you to participate as a supplier in the lucrative chain of preferential procurement.
A further benefit of having a BBBEE certificate is the impression it gives. A certificate shows that you care and that your business is committed to making a positive difference in socety. Remember that BBBEE policies are focussed on effecting transformation in the business world by empowering greater black economic participation. A BBBEE certificate can be promoted in your business’s marketing materials.
BBBEE certificates can be issued by verification agencies that are approved by the South African National Accreditation System or Independent Regulatory Body. Obtaining a certificate may not require special auditing – an affidavit may suffice. For example, a QSE that has 51% black ownership is automatically qualifies for Level 2 BBBEE status. If the ownership is 100% black, this grants Level 1 status.
Exempt Micro Enterprises (EMEs), which need to have annual turnover of less than R10 million, automatically acquire Level 4 status without needing any black ownership. Having black ownership immediately upgrades them to Level 1 status.
BBBEE certificates are valid for one year from the date of issue, and need to be renewed annually. Even though rules and regulations have become stricter with the policy changes that were introduced last year, it is still perfectly feasible to obtain a BBBEE certificate – and with all the benefits that having one brings, there is no good reason not to.
Original news release this week:
Canaf's South African subsidiary agrees to B-BBEE deal
2018-01-29 10:44 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES B-BBEE TRANSACTION FOR SOUTH AFRICAN SUBSIDIARY
Canaf Group Inc. has released the terms of its Broad-Based Black Economic Empowerment, transaction for its South African subsidiary, Southern Coal Pty. Ltd.
As part of Southern Coal's continuing B-BBEE transformation program, Elkhat Pty. Ltd., a 100-per-cent black, privately owned company incorporated in South Africa, has agreed to acquire 30 per cent of the issued shares of Southern Coal, from Canaf's wholly owned subsidiary, Quantum Screening and Crushing Pty. Ltd., for the value of $1.8-million.
Quantum will, in return, receive cumulative, redeemable preference shares in Elkhat in the amount of the purchase price, $1.8-million. These preference shares shall provide preferential dividends, until redeemed by Elkhat. These dividends will be secured by an irrevocable direction from Elkhat to Southern Coal to pay Quantum such dividends from any distribution to Elkhat. The transaction will close on March 24, 2018.
Christopher Way, chief executive officer of Canaf, states: "It is my goal to ensure that Canaf, via its South African subsidiaries, expands and invests in South Africa and its neighbours. The agreement to sell 30 per cent of Southern Coal to Elkhat marks a significant and essential milestone in our B-BBEE transformation program; this program helps ensure sustainability and security for the corporation in South Africa, and subsequently only facilitates our long-term expansion goals in Southern Africa."
In addition to this transaction, Southern Coal is also pleased to confirm that it is well on track in ensuring that all other areas of its B-BBEE transformation plan, including its enterprise, socio-economic skills and supplier development programs are fully invested in so to ensure that the company reaches its desired level.
About Canaf Group Inc.
Canaf is a junior-mining-related group based in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African-based company that owns 100 per cent of Southern Coal Pty. Ltd., a company that produces a high-carbon, devolatized anthracite.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
Right now there is a major program going on in the same region of South Africa for Cannabis cultivation and CAF's operations are right there. If you look below, you'll be able to connect the dots. Not saying this will happen for sure, but it's very possible.
CAF Company Description: Canaf Group Inc. is a Canada-based company, which focuses on investing and developing in the markets of Africa. The Company owns a coal beneficiation facility in South Africa, Quantum Screening and Crushing (Pty) Ltd. (Quantum). Quantum, through its subsidiary, Southern Coal (Pty) Ltd., processes anthracite coal into de-volatized (calcined) anthracite for sale mostly to steel and ferromanganese manufacturers as a substitute product for coke. Quantum has an operation near Newcastle, KwaZulu Natal, where its kilns operate, de-volatizing the raw material anthracite, known as calcining. Quantum's feedstock anthracite is supplied by the neighboring Springlake Colliery. Quantum runs over two independent lines of production, which each consist of pre-heating stage feeding a main rotary kiln. The final stage of the process involves the oxidization of any excess volatiles in the after-burners/oxidizers, before emission to the atmosphere. Quantum has over two independent screening plants.
So the Province the company is located in is "KwaZulu Natal", remember that.
From CAF's last new release:
Christopher Way, chief executive officer of Canaf, states: "It is my goal to ensure that Canaf, via its South African subsidiaries, expands and invests in South Africa and its neighbours. The agreement to sell 30 per cent of Southern Coal to Elkhat marks a significant and essential milestone in our B-BBEE transformation program; this program helps ensure sustainability and security for the corporation in South Africa, and subsequently only facilitates our long-term expansion goals in Southern Africa."
From Wikipedia: https://en.wikipedia.org/wiki/Cannabis_in_South_Africa
Cannabis grows well in South Africa's climate,[21] especially in the "dagga belt", an area including the Eastern Cape and KwaZulu-Natal provinces[8] where, per the 2011 International Narcotics Control Strategy Report, it is a traditional crop. According to GroundUp, cannabis is "an important cash crop" that "sustains entire communities in the rural Eastern Cape", which otherwise survive in a subsistence economy.[22][23] Rural farmers are typically poor and produce low quality local product that is consumed domestically by the lower class, while middle class growers produce product for the rest of the national and international marijuana market.[23] Most of the national product is consumed domestically or regionally, but increasing amounts are seized in Europe.[24]
Recent news article: https://www.iol.co.za/dailynews/dagga-set-to-grow-kzn-economy-11274908
KwaZulu-Natal emerging farmers are going to get the chance to cultivate a “miracle crop” that has the potential to transform the South African economy, while creating thousands of much-needed jobs. And the plant that will be grown in six rural areas of the province to help to bring prosperity to the region and the country is cannabis, also known as hemp or dagga
Canaf's South African subsidiary agrees to B-BBEE deal
2018-01-29 10:44 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES B-BBEE TRANSACTION FOR SOUTH AFRICAN SUBSIDIARY
Canaf Group Inc. has released the terms of its Broad-Based Black Economic Empowerment, transaction for its South African subsidiary, Southern Coal (Pty) Ltd.
As part of Southern Coal's continuing B-BBEE transformation program, Elkhat (Pty) Ltd., a 100-per-cent black, privately owned company incorporated in South Africa, has agreed to acquire 30 per cent of the issued shares of Southern Coal, from Canaf's wholly owned subsidiary, Quantum Screening and Crushing (Pty) Ltd., for the value of $1.8-million.
Quantum will in return receive cumulative, redeemable preference shares in Elkhat in the amount of the purchase price, R18million (C$1.8million approx). These preference shares shall provide preferential dividends, until redeemed by Elkhat. These dividends will be secured by an irrevocable direction from Elkhat to Southern Coal to pay Quantum such dividends from any distribution to Elkhat. The transaction will close on 24 March 2018.
Christopher Way, Chief Executive Officer of Canaf, states, "It is my goal to ensure that Canaf, via its South African subsidiaries, expands and invests in South Africa and its neighbours. The agreement to sell 30% of Southern Coal to Elkhat marks a significant and essential milestone in our B-BBEE transformation program; this program helps ensure sustainability and security for the Corporation in South Africa, and subsequently only facilitates our long-term expansion goals in Southern Africa."
In addition to this transaction, Southern Coal is also pleased to confirm that it is well on track in ensuring that all other areas of its B-BBEE transformation plan, including its Enterprise, Socio-Economic, Skills, and Supplier, Development programs, are fully invested in, so to ensure that the Company reaches its desired level.
About Canaf
Canaf is a public company listed on the TSX-V Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100% of Quantum Screening and Crushing (Pty) Ltd., ("Quantum"), a South African based company that owns 100% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised anthracite. As of 29 January 2018, Quantum agrees to sell 30% of its shares in Southern Coal for the net consideration of R18million; the transaction will close on 24 March 2018.
About Southern Coal
Southern Coal produces calcined anthracite, a product used primarily as a substitute to coke in sintering processes. Southern Coal produces calcined anthracite by feeding washed anthracite coal through a rotary kiln, at temperatures between 900 and 1100 degrees centigrade; the volatiles are driven off and the effective carbon content increased.
Southern Coal's two largest clients are African leaders in steel and ferromanganese production. Southern Coal operates near Newcastle, KwaZulu-Natal, where Quantum's three kilns operate; the majority of Southern Coal's feedstock anthracite is supplied from local anthracite mines in KwaZulu-Natal.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
Sorry the news didn't post properly, here is a link to it: https://www.morningstar.com/news/the-news-wire-ca/TheNewsWire_20180129B2aFM2mP/sunora-foods-announces-year-end-q4-sales-figures.html
Sunora Foods announces Year End & Q4 Sales Figures
2018-01-29 05:01 MT - News Release
(via TheNewswire)
January 29, 2018 / TheNewswire / CALGARY, ALBERTA. Sunora Foods Inc. (the " Corporation ") (TSX-V: SNF) is pleased to announce unaudited, preliminary sales figures for the fourth quarter and for the year ending December 31, 2017.
Sales Figures Q4 2017 and Year End (Y/E) 2017
Q4 2017
Q4 2016
% chg
Sales
$3,894,809
$3,444,553
13.1
Canadian
$281,450
$427,003
(34.1)
United States
$2,842,404
$2,034,858
40.0
Overseas
$770,955
$982,693
(21.5)
Y/E 2017
Y/E 2016
% chg
Sales
$13,937,902
$12,241,054
13.9
Canadian
$1,032,144
$1,042,767
(1.0)
United States
$10,290,964
$8,500,528
21.1
Overseas
$2,614,794
$2,697,760
(3.1)
With the recent conclusion of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ("CPTPP") discussions, Sunora has enhanced marketing opportunities to increase sales for Sunora branded products, particularly its canola oil. The CPTPP countries have 495 million people and account for CAD $13.5 trillion or 13.5% of global gross domestic product ("GDP"). The government of Canada estimates that this agreement will benefit Canada by boosting domestic GDP by CAD $4.2 billion.
Sunora has made shipments to the following countries which are part of the CPTPP: Japan, Malaysia, New Zealand, Singapore and Vietnam.
Additional information on the CPTPP can be viewed at:
http://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/tpp-ptp/index.aspx?lang=eng&menu_id=95
Sunora also recently initiated the delivery of Sunora branded sunflower oil from a major South American supplier to China. The delivery of this product occurred in Q1 2018, just prior to the Chinese New Year in China. It is expected that additional deliveries of sunflower oil will occur in 2018 and beyond.
About Sunora Foods
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.
For further information, please contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
E: dean@boardmarker.net
Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
E: steve.bank@sunora.com
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2018 TheNewswire - All rights reserved.
© 2018 Canjex Publishing Ltd. All rights reserved.
Good volume recently and with a NAV of over 5 cents and positive cash flow coming in from their Saskatchewan assets, this is an easy double from current prices. Level II Below:
1 / 25,000 0.03------ 0.035 90,000 / 3
6 / 607,000 0.025------ 0.04 87,000 / 3
2 / 65,000 0.02------ 0.045 50,000 / 1
4 / 286,000 0.015------ 0.05 80,000 / 1
5 / 336,000 0.01------ 0.095 38,000 / 1
8 / 773,000 0.005------- -- --
Up nicely today, ex-directors that were selling are now gone and the price can go back to a more realistic level.
Market Depth:
4 / 95,000 0.06----- 0.07 40,000 / 3
4 / 80,000 0.055----- 0.08 25,000 / 1
4 / 74,000 0.05----- 0.085 22,000 / 3
3 / 220,000 0.045----- 0.09 28,000 / 2
6 / 230,000 0.04----- 0.095 18,000 / 1
4 / 141,000 0.035----- 0.10 6,000 / 1
11 / 349,000 0.03----- 0.105 10,000 / 1
2 / 210,000 0.025----- 0.12 10,000 / 1
2 / 35,000 0.02----- 0.215 20,000 / 2
Gunpowder investee opens cyptocurrency mining plant
2018-01-25 07:11 MT - News Release
Mr. Frank Kordy reports
GUNPOWDER PROVIDES BLOCKCHAIN INVESTMENT UPDATE
Gunpowder Capital Corp.'s investee company, BitBlox Technologies Inc., a leading-edge technology company that focuses on the mining of cryptocurrencies like Ether (ETH), Bitcoin (BTC) and Zcash (ZEC), and the development of next-generation cryptocurrency technologies, has launched its first proprietary cryptocurrency mining facility, located in Southwestern Ontario. BitBlox has also entered into an agreement with Gunpowder to provide BitBlox back office administration support. BitBlox and Gunpowder expect to expand their strategic relationship in the coming months.
Cryptocurrency "mining" is the term used for transaction verification services provided within a blockchain network. The verification process uses computing and cryptography to solve complex mathematical transactions. Successfully verified transactions get added to a public ledger, more commonly known as the blockchain. Individual blocks, added by cryptominers like BitBlox, are called a proof of work (POW) and results in the release of new currency or "coins" — which are the incentive for miners participating on the network.
As demand increases within the crypto economy, higher fees for verifying transactions have added to the Crypto Mining value proposition. BitBlox Technologies offers a targeted approach to operational efficiency that takes best advantage of the enhanced profit potential within the sector. Located in a 5,000-sq. ft. leased facility (with an option to expand to 10,000 sq. ft.), BitBlox has retrofitted its cryptocurrency mining facility for optimized performance of its operations. State of the art facility solutions are used, with mining hardware customized to be more power efficient and deliver higher computational ability than most other systems generally available on the market. Highly optimized hardware configurations and strategic and advanced facility planning translates into a well-tuned and efficient mining infrastructure and capability, positioning BitBlox with a market advantage.
For its initial Proof of Concept (POC), BitBlox is deploying 126 GPU card equivalents of processing capability, with a potential planned scale-up to 8000 GPU card equivalents within a six-month timeframe. The operation has a primary focus on GPU mining to harvest value within the burgeoning alt coin market, which the Company anticipates growing larger as the smart contract functionality unique to the Ethereum blockchain, as one example, sees further adoption. At the same time, the BitBlox mining operation takes a balanced approach, switching to ASIC mining on the Bitcoin blockchain at times when rates of return are proved more favorable.
Moving forward, the BitBlox vision is to constantly seek better ROI through investments in leading-edge and proprietary technology. As the blockchain continues to scale and see adoption as the global network for value transfer, BitBlox is investing in the development of crypto-mining IP and other relevant applications. The Ethereum blockchain in particular is designed as a matrix for smart contract functionality. BitBlox envisions the building out of this technology through development of machine learning and other forms of AI. Its business priority is to invest in R&D to enhance ongoing value capture within in this emerging sector.
About BitBlox Technologies Inc.
BitBlox Technologies Inc., is building a high value cryptocurrency enterprise. BitBlox mines cryptocurrencies, such as Ether and Zcash, and offers value-added technology services for the cryptocurrency market, such as crypto-mining proprietary software.
Offering a complete ecosystem of value-creation, BitBlox cryptocurrency mining will provide the basis for an innovative token product that is monetized according to mining profit margins. A percentage of these profits will be invested in the development of a proprietary Artificial Intelligence ("AI") based technology. Overall, BitBlox takes an approach that enables the company to scale, and respond to changing conditions, within the still-emerging cryptocurrency industry.
Part of a wave of emerging technologies, cryptocurrencies are indivisible from a new virtual economy that is powered in part by smart contract and other AI-based integrations. Cryptocurrency and value mining are central to this new paradigm. Taking a robust and diversified business approach, BitBlox Technologies Inc. is poised to capture value in successive phases as this industry continues to scale.
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
HHS.C Due Diligence Report
(All Information Can Be Found From Company January 2018 Presentation)
Contact bill@hihosilverresources.com For A Copy
Price: $0.035 (10 year low)
Common Shares: 36,407,804 (As Of October 31st 2017)
Insider/Institutional Holdings: 9,342,350 or 25.6%
Warrants: 6,590,000 – Exercisable between $0.20 - $0.30
Options: 7,000,000 – Exercisable between $0.05 - $0.10
Fully Diluted: 49,997,804
Notes:
- 6.8 million shares at the start of 2017 with higher costs from previous years(rolled back already)
- All money raised and shares issued in 2017 at a price of 10 cents only
Company Projects
1) Illite Clay Property (Acquired October 2017)
X-Ray diffraction confirmed this clay is Illite adsorptive clay, similar to the famous green healing clay from France. Presently clay is distributed to major spas with high markup.
Potential external uses for Illite clay are:
- Rejuvenating face mask and exfoliation
- Adsorbs acne
- Lifts wrinkles
- Heals burns, bee stings, insect bites, rashes and inflammation
- Sunscreen
- Toothpaste
•Round trip from harvesting site to Vancouver port facility is 2000 kilometers
•Mine site located at 1300 meter elevation, snow-free from June through November
•Time frame to obtain government permits is 2-4 months
**Note** French Green Clay currently sells on Amazon for $18 CDN for 1KG.
Link: https://www.amazon.ca/French-Green-Clay-Natural-Regenerator/dp/B006Y8F75A
2) Fairview Gold Project
•Fairview property, Oliver, Okanagan Valley, British Columbia
•Inferred gold resource of 32,000 oz., and a silver content of 192,000 ounces (N.I. 43-101).
•Underground configuration to be developed by an adit driven horizontally to intersect the mineralization.
•Inferred Resource based on 47 drill holes, and may possibly be expanded by exploration to potentially reach 200,000 ounces gold.
•This is a conceptual exploration target for between 550,000 and 650,000 tonnes grading between 0.29-0.31 oz/t gold
•Hi Ho Resources Inc. holds a large land position on the property.
•Mill capacity is available nearby in Greenwood or Merritt.
•A drilling program to be completed with $300,000 financing.
•Production may move rapidly when funded.
3) Norbeau Gold Project, Quebec
•Former gold producer developed on 12 levels to 12oo feet.
•Optioned to Itoco Mining Corp. with 5% retained net profits interest.
•Equity position plus NPI – 4 million shares (approximately 15%)
•Hi Ho Resources Inc. holds 4 million shares of Itoco Mining Corp. as part of development funding for Norbeau.
•Original mine produced 419,000 tons grading 13.77 oz./t gold 1965-1969
•Conceptual exploration potential 2-10 million tonnes grading 0.6-0.7 g/t gold
4) Canamara Iron & Titanium Corporation, Quebec
•Hi Ho Silver Resources Inc. equity position approx. 8% (2,000,000 shares plus 2,000,000 warrants)
•Canamara, private company, extensive high-grade hard-rock Titanium Properties Quebec, adjacent Rio Tinto’s Lac Tio Titanium mine, a producer for sixty-five years
•Known exploration targets (drilled in part) potential 140-160 million tonnes grading 38-40% Ti O2.\
•World-class high-grade Titanium as Ilmenite (Titanium/Iron Oxide)••Very large district resource exploration potential to be drilled, geophysically outlined
5) ADDITONAL LAND CLAIMS & PROPERTIES
•Bralorne Gold Project, BC
•Silver Reef Gold Project, California
•Bonanza Prospect Gold/Silver/Lead/Zinc/Copper, BC
•Abbott Prospect Gold/Silver/Lead/Zinc, BC
•Omenica Cobalt/Nickel/Platinum, BC
News Release Today:
Hi Ho to buy polymetallic B.C. property for $100,000
2018-01-24 13:36 MT - News Release
Mr. William Jorgenson reports
HI HO SILVER RESOURCES INC., SIGNS OPTION AGREEMENT ON COBALT & NICKEL- PLATINUM AND COPPER-MOLYBDENUM PROPERTY LOCATED IN THE OMINECA MINING DISTRICT OF CENTRAL BRITISH COLUMBIA, CANADA
Hi Ho Silver Resources Inc. has been granted an option to acquire a 100-per-cent interest in a property prospective for both nickel-cobalt-platinum and copper-molybdenum, located in the Omineca mining district of Central British Columbia, Canada.
The prospect lies within an intrusive ultramafic unit that is strongly anomalous in nickel, cobalt and platinum to a level in oil and rock rubble samples that approximate the levels in a major nickel-cobalt resource in similar rocks of the Turnagain mafic complex to the north. The property is also prospective for copper and molybdenum in the surrounding intrusive rocks, based on 17 drill holes by BP in 1973, that encountered significant long intervals of copper and molybdenum mineralization. The property covers 1066 hectares over 67 claims, plus any adjoining property that may be acquired by either party. Road access is available to the property and power lines are located within 10 miles of the property.
To exercise the option and earn its interest in the property, Hi Ho must make total cash payments of $100,000 and issue a total of two million common shares to the optionors in stages as follows:
· A total $20,000 cash, of which $1,000 has been paid and, on signing of a formal option agreement, the balance of $19,000 cash, plus 500,000 common shares;
· On the first anniversary date of the option agreement, $20,000 cash plus 500,000 common shares;
· On the second anniversary date, $30,000 cash plus 500,000 common shares;
· On the third anniversary date, $30,000 plus 500,000 common shares.
Upon Hi Ho exercising the option and acquiring a 100-per-cent interest in the property, the optionors will retain a 2-per-cent net smelter returns royalty of which 1-per-cent may be purchased at any time for $1-million.
Hi Ho intends to pay finders' fees either in common shares or cash in connection with the option.
Geochemical values from surface gossanous material are: Nickel 1,800 parts per million, cobalt 153 ppm and platinum 2,200 parts per billion. The cobalt is particularly of interest as this approximates the cobalt content of the Turnagain drilled resource of nickel-cobalt lying in a more northern portion of the nickel mineralized belt. Copper and molybdenum values were encountered over substantial thicknesses in 18 holes drilled by BP in 1973. Among the better intersections are in Hole No. 8 a zone of 230 feet assaying 0.21 per cent copper, 0.02 per cent molybdenum; Hole No. 7, 50 feet of 0.44 per cent copper and 0.019 per cent molybdenum, 50 feet of 0.18 per cent copper and 0.023 per cent molybdenum, and 50 feet of 0.14 per cent copper and 0.006 per cent molybdenum; Hole No. 6 returned 140 feet of 0.13 per cent copper and 0.002 per cent molybdenum. Hole No. 2 returned 100 feet of 0.3 per cent copper.
Anomalous gold has also been encountered in grab samples from the property.
Exploration potential for the property is believed to be substantial. There are no established reserves or resources on the property, and it will require exploration and redevelopment work and sampling to establish any resource or reserve. There can be no assurance that a resource can be established, or if established that such will be economically recoverable.
The company has issued 260,000 units at a deemed price of 10 cents per Unit to certain directors and officers of the company as payment for services rendered pursuant to consulting agreements. Each unit comprises one common share and one transferable common share purchase warrant to purchase one additional share at an exercise price of 30 cents per share for a period of two years from the date of issuance.
About Hi Ho Silver Resources Inc.
Hi Ho Silver Resources is a Vancouver-based mineral exploration company dedicated to the exploration and development of precious and base metal mineral deposits and other mineral opportunities in North America and elsewhere.
This press release has been reviewed and approved by Dr. Stewart Jackson, PGeo, a qualified person and technical adviser to Hi Ho.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
Great articles that explain why CAF.V(Canaf Group Inc.) anthracite coal is rare and valuable. This is why the company is very profitable and will continue to be through 2018.
All articles are from 2017-2018:
1)
https://www.eia.gov/energyexplained/index.cfm?page=coal_prices
Highlights From Link:
- Anthracite is rare in the United States, accounting for less than 1% of the coal mined in the United States
- The average annual sale prices of coal at mines producing each of the four major ranks of coal in 2015, in dollars per short ton (2,000 pounds)
Bituminous—$51.57
Subbituminous—$14.63
Lignite—$22.36
Anthracite—$97.91
2)
https://en.wikipedia.org/wiki/Anthracite
Anthracite is categorized into standard grade, which is used mainly in power generation, and high grade (HG) and ultra high grade (UHG), the principal uses of which are in the metallurgy sector. Anthracite accounts for about 1% of global coal reserves,[4] and is mined in only a few countries around the world. China accounts for the majority of global production; other producers are Russia, Ukraine, North Korea, South Africa, Vietnam, the UK, Australia, Canada and the US. Total production in 2010 was 670 million tons.[5]
3)
Recent Article On Anthracite Coal - https://www.thebalance.com/what-is-anthracite-coal-1182544
4)
Recent US Asset Sale To Ukraine For Coal - http://www.railwayage.com/index.php/freight/short-lines/for-rn-a-coal-fueled-record-year.html
- “Our anthracite coal business was up more than 40%, so once again, R&N is ‘The Road of Anthracite.’ This explosive growth was fueled by a late-year announcement of a major sale of Pennsylvania anthracite to the Ukraine, replacing Russian coal. Following a July announcement of the deal at the White House, R&N was told to prepare to move more than 300,000 tons of anthracite by year end. We stepped up and managed to provide all the cars needed for the business and served as many as eight different origins as the entire anthracite community pulled together to fill this huge order. We are hopeful that this business will continue in 2018.”
5)
https://en.antaranews.com/news/114341/vietnam-expects-more-investors-from-indonesia
Kadin also hoped to cooperate with VCCI in coal production, especially anthracite coal. "So far, Indonesia has imported a lot of anthracite coal from Vietnam for iron smelting and to meet the needs of smelters," he noted. In connection with that, Ganefor hoped for a barter with Indonesia; for example, exporting aircraft, cocopeat, and others to Vietnam, while that country exports anthracite coal and others to Indonesia, with regard to balance trade between the two countries.
** Key thing to take away from this article is that they specific Anthracite coal above other commodities even though this is meant to be a general meeting**
6)
Rare Earth Elements Could Exist In Anthracite coal
http://dailytelescope.com/pr/update-aim-exploration-discuss-discovery-of-rare-earth-elements-ree-in-anthracite-trump-boon-to-anthracite-mining-in-us-and-increase-demand-for-anthracite-coal/37903
18 - 22 FEBRUARY 2018 DUBAI WORLD TRADE CENTRE
https://www.gulfood.com/exhibitors/agro-processors-and-atomospheric-gases-pvt-ltd
In 2006, SMART Canola Oil was launched in collaboration with Sunora Foods, Canada. Currently, APAG is diversifying with the introduction of the SMART range of premium quality sauces. APAG strives to deliver excellence at all levels.
http://apag.com.pk/
Updated News Release From AAT.V - Correcting and Replacing: AirTest Announces Financing and Debt Elimination
DELTA, BC, January 18, 2018 – AirTest Technologies Inc. (“ATI”) (TSXV: AAT) is pleased to announce the Company has signed a Sales Royalty Agreement with Omni Marketing Global.(“OMG”). Under this Agreement, OMG will be eliminating loans and interest owed by ATI for a total debt of $1,013,299. OMG will also advance $1,000,000 of working capital to ATI to be used in developing the business. ATI will pay OMG a royalty on sales monthly effective January 1, 2018 amounting to 5% of sales each month. The monthly royalty payments will be capped at $30,000 per month and the rate of royalty and term of agreement will be reviewed by OMG and ATI on the 3rd anniversary and the 6th anniversary of this Royalty Agreement signing. In the event that ATI breaches any obligation included in the Agreement at some future date, the agreement requires ATI to pay OMG $2,013,299 plus 25% per year that the Agreement has been in effect, less all royalty payments that have been made from ATI to OMG during the term of this Agreement.
The principal shareholder of OMG is Robert Mebruer who is also the President and CEO of OMG. Mr. Mebruer is also a director of ATI.
According to ATI president George Graham “this agreement will allow us to aggressively pursue our business plan including a very positive marketing program that will enable our Company to take advantage of the growth opportunity we currently enjoy through the promotion of several new wireless products and systems that are unique to our company. At the same time this agreement will help clean up our balance sheet to assist with future financing”.
It should be noted that this Sales Royalty Agreement is subject to both disinterested shareholder approval and Exchange approval.
For further information, please contact:
Mr. George Graham, President
Phone: (604) 517 3888
Fax : (604) 517 3900
Email: ggraham@airtesttechnologies.com
Website: www.airtesttechnologies.com