JonnyRBuck12
6年前
Two news releases over the last couple days:
Canaf announces share purchases by Mr. Christopher Way
July 29, 2019, Vancouver, British Columbia - Canaf Investments Inc. (TSXV: CAF), ("Canaf" or “the
Corporation”), announces that it has been advised by Mr. Christopher Way of Henfield, West Sussex, the United
Kingdom and the Chief Executive Officer of the Company, that Mr. Way recently has acquired beneficial ownership
and control of 845,007 common shares ("Common Shares") in the capital of Canaf for aggregate consideration of
C$33,800. The Common Shares were acquired by private transaction.
As of today's date, Mr. Way now owns or exercises control or direction over an aggregate of 7,011,714 Common
Shares representing 14.78% of the issued and outstanding Common Shares.
The Common Shares were acquired for investment purposes. Mr. Way may, in the future, increase or decrease his
ownership of securities of Canaf, directly or indirectly, from time to time depending upon the business and prospects
of Canaf and future market conditions.
Jul 30, 2019, Vancouver, British Columbia - Canaf Investments Inc., formerly known as Canaf Group Inc.,
(TSXV: CAF), ("Canaf") the Canada-registered corporation, is pleased to announce the appointment of Mr Peter
Wassenaar as a Director of Canaf effective today.
Peter is a practicing attorney based in Pretoria, South Africa. After having obtained his LLB degree from the
University of Pretoria in 2009, he became a founding member and director of the law firm Kriek Wassenaar and
Venter Inc in 2012, after being admitted as an attorney of the High Court. Peter’s work as attorney is focused on
company law, commercial transactions, contract and constitutional law. He is also a qualified litigation attorney
serving as counsel to numerous corporations and non-profits in South Africa.
Peter’s expertise will be of great value at a time when the Corporation is diversifying into new sectors via its
subsidiary, Canaf Investments (Pty) Ltd. Being based in South Africa, and with his commercial and legal experience,
the board sees his appointment as a strong strategic move for long term growth.
Peter’s firm was also instrumential
in the successful broad-based black economic empowerment transaction that was completed earlier in the year.
The Corporation also confirms the resignation of Mr. Kevin Corrigan from the board of directors. Kevin steps down
as a director after serving nearly 10 years on the board, as he plans to focus more of his time on new projects and
positions. The board wishes him the best of luck for the future and thanks him for his professional advice and input
over his years of service.
JonnyRBuck12
6年前
Canaf Investments Inc. Q1 2019 Results. Financials + MD&A
Ending January 31st 2019. All information can be found at www.sedar.com
TSXV Symbol: CAF - OCTBB Symbol: CAFZF
Price: $0.09
Common Shares: 47,426,195
Insider Holdings: 12,304,085 or 26% - Majority Owned By CEO & Family
Warrants/Options: 0
Financials (All In US Dollars)
ASSETS (Jan 31 2019)
Cash: $591,414
Trade Receivables: $1,521,001
Sales Tax Receivable: $463
Inventories: $622,443
Prepaid Expenses: $22,965
Property & Equipment: $870,984
Interest Bearing Borrowings: $1,287,458
Intangible: $1
Total Assets: $4,916,729
LIABILITIES
Trade Payables: $745,700
Sales Tax Payable: $37,844
Income Tax Payable: $84,206
Total Liabilities: $867,750
Asset/Debt Ratio: 5.67:1
Q1 2019 Performance
Sales: $2,419,633
Gross Profit: $329,519
Net Income: $187,367
Foreign Currency Gain: $401,214
Total Net Income For Q1: $588,581
2017 Net Income(after currency exchange & taxes): $439,664 USD
2018 Net Income(after currency exchange & taxes): $298,144 USD
2019 Q1 Net Income (after currency exchange & taxes): $588,581 USD
Total Net Income Added In 11 Quarters: $1,326,389 or $1,750,833 based on 1.32 exchange
MD&A Highlights
Whilst the Corporation reports another profitable and financially positive quarter, the board can confirm that it is actively looking for new opportunities that will offer long-term growth potential and stability of sales for shareholders, be it related to its existing anthracite calcining operation in South Africa or another new, and unrelated, sector.
With zero long-term debt, a strong balance sheet, and a cash flow positive business in South Africa, the Corporation believes it is in a good position to do so.
Sales for the first quarter of 2019 were low compared to the previous quarter in 2018 at $2,419,633 (2018: $3,273,213), a 26% decline, however gross profits grew to $329,519, compared with $248,562 in the same quarter in 2018, a 33% increase. Net income for the quarter remained static at $187,367 (2018: $187,126), but increased from $108,996 the previous quarter. Despite sales reducing during the quarter, gross profit margin increased due to discounted feed material being purchased during the period as well as savings made through acquisition of machinery, which subsequently reduced rental costs for the Corporation. The Corporation expects profit margins to reduce next quarter, and remain squeezed throughout the rest of the year, as Southern Coal continues to manage increased input costs.
The Corporation expects revenues to be reduced in comparison to the year ended October 31, 2018, mostly due to global pressure on the steel and manganese markets, which subsequently filters back to demand for Southern Coal’s product. During Q1 2019, the Corporation is pleased to confirm that a trial load of its calcined product was delivered to a new potential, and significant, customer. The Corporation hopes to finalise a second trial during Q2 and Q3, and should this convert to an ongoing supply, the Corporation feels that there is potential to return to the revenue levels of the year ended October 31, 2018.
During Q1 2019, Southern Coal made its final payment for the 14 million Rand loan from ABSA bank, which was drawn down in February 2015. Repayment of this loan now releases Southern Coal from monthly installments of approximately 392,000 Rand (approx. C$37,000 or US$28,000). As of January 2019, the Corporation has zero long-term liabilities.
As part of Southern Coal’s B-BBEE transformation program, Amandla Amakhulu (Pty) Ltd, (“AAM”), a 100% black, privately owned, and ringfenced, company incorporated in South Africa, acquired 30% of the issued shares of Southern Coal, from Canaf’s wholly owned subsidiary, Quantum, for the value of 18 million Rand. The financial effective date for the transaction is 01 August 2018.
Quantum in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price. These preference shares shall provide preferential dividends, until redeemed by AAM. These dividends will be secured by an irrevocable direction from AAM to Southern Coal to pay Quantum such dividends from any distribution to AAM. Dividends were declared during the first quarter of $135,441.52
Expenses for the quarter were $119,276 (2018: $167,892) a reduction of $48,616, 41%, although not separately reported in Q1 of 2018 there are a significant amount of increased costs in relation to BBEEE compared to Q1 ofthis financial year.
JonnyRBuck12
6年前
Canaf Investments Inc. 2018 Year End Results. Financials + MD&A
Ending October 31st 2018. All information can be found at www.sedar.com
Q1 2019 result will be released end of March 2019.
TSXV Symbol: CAF - OCTBB Symbol: CAFZF
Price: $0.09
Common Shares: 47,426,195
Insider Holdings: 12,304,085 or 26% - Majority Owned By CEO & Family
Warrants/Options: 0
Website: www.canafgroup.com
Financials (All In US Dollars)
ASSETS
Cash: $552,351
Trade Receivables: $1,240,730
Sales Tax Receivable: $4,559
Inventories: $836,551
Prepaid Expenses: $21,896
Property & Equipment: $868,059
Due From Non-Controlling Interest: $1,250,290
Intangible: $1
Total Assets: $4,774,437 (2017 - $3,315,232)
LIABILITIES
Trade Payables: $1,088,227
Income Tax Payable: $11,958
Bank Loan: $78,412 - Paid Jan 2019 as per the company press release
Total Liabilities: $1,178,597 (2017 - $1,406,594)
Asset/Debt Ratio: 4.05:1
2018 Performance
Sales: $14,673,658
Gross Profit: $1,171,328
Net Income: $298,144
Canaf Investments has added $737,808USD ($959,150CAD @ 1.30 Exchange) in net income over the last 8 quarters, established new business relationships with the acquisition of their BBEEE certificate that took a long time to receive, are diversifying the company as per the MD&A below, yet the price is still where it was two years ago, thus the price/earnings ratio is also very low. It says below in the MD&A that shareholders equity was pegged at $4.6 million CAD, which is today’s current market cap value. Almost all companies on the TSX/TSXV/CSE trade far beyond this value, thus giving Canaf an even bigger discount for no reason. Read all MD&A information below as there are numerous things happening with the company in 2019. There were also one time expenses such as BBEEE and company name change that increased expenses just for 2018.
MD&A Highlights (Management Discussion)
The Corporation reports another strong year of sales and earnings with revenues for the twelve months of $14,673,658 (2017: $10,699,117) a 37.1% increase, and gross profits of $1,171,328 (2017: $1,223,110) a 4.1% decrease. Net income for the year increased 15.1% to $623,884 (2017: $541,808).
An important achievement of the Corporation during the year was the sale of 30% of Quantum’s shares in Southern Coal for 18 million Rand, which enabled, and contributed, to Southern Coal achieving a Level 4 Broad-Based Black Economic Empowerment (“B-BBEE”) rating. Achieving this rating will enable Southern Coal to engage in long-term supply contracts with its customers. The Corporation can confirm that long-term (24 month) contracts with both its existing main customers should be renewed during Q2 and Q3, 2019.
During Q1 2019, the Corporation is pleased to confirm that a trial load of its calcined product was delivered to a new potential and significant customer. Trials will be ongoing into Q2 2019, and should this convert to an ongoing supply, the Corporation feels that there is potential to return to the revenue levels of the year ended October 31, 2018.
The Corporation expects to continue to operate profitably into 2019, however management expects revenues to be significantly reduced in comparison to the year ended October 31, 2018, mostly due to global pressure on the steel and manganese markets, which subsequently filters back to demand for Southern Coal’s product.
While revenues and net income have grown, gross margin suffered as Southern Coal experienced increased costs of production primarily due to increased cost of its anthracite feedstock material. The Corporation expects its gross margins to remain squeezed into next year. In addition to pressure from suppliers, the Corporation carried out major essential maintenance and re-commissioning during the year on one of its old calcining plants.
During Q1 2019, Southern Coal made its final payment for the 14 million Rand loan from ABSA bank, which was drawn down in February 2015. Repayment of this loan now releases Southern Coal from monthly installments of approximately 392,000 Rand (approx. C$37,000 or US$28,000), which the Corporation plans to allocate to future diversification or expansion projects. As of January 2019, the Corporation has zero long-term liabilities.
Whilst the Corporation reports another profitable and financially positive year, the board can confirm that it is actively looking for new opportunities that will offer long-term growth potential for shareholders, be it related to its existing anthracite calcining operation in South Africa or another new, and un-related, sector. With zero long-term debt, a strong balance sheet, and a cash flow positive business in South Africa, the Corporation believes it is in a good position to do so. In the meantime, the Corporation will continue to grow its shareholder’s equity, which as of October 31, 2018, stands at approximately $3.5 million (C$4.6 million).
BROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION (B-BBEE)
As part of Southern Coal’s B-BBEE transformation program, Amandla Amakhulu (Pty) Ltd, (“AAM”), a 100% black, privately owned, and ringfenced, company incorporated in South Africa, acquired 30% of the issued shares of Southern Coal, from Canaf’s wholly owned subsidiary, Quantum, for the value of 18 million Rand. The financial effective date for the transaction is 01 August 2018. Quantum in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price. These preference shares shall provide preferential dividends, until redeemed by AAM. These dividends will be secured by an irrevocable direction from AAM to Southern Coal to pay Quantum such dividends from any distribution to AAM.
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 by MMAKS Advocates, Kampala, against KML is at no cost to the Corporation, but any award in won by MMAKS efforts 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.
Revenue for the year was $14,673,658 (2017: $10,699,117), 37.1% increase due to high demand for Southern Coal's calcine product from both of its main customers. Sales for the year-end October 31, 2019 are expected to reflect a significant reduction in comparison to the current year, assuming no new customers are secured. The expected reduction in sales is primarily down to global uncertainties in the steel and manganese markets that Southern Coal supplies in to. Despite the expected reduction in sales, management can confirm that it is working on ensuring that gross margins improve by implementing efficiencies in Sothern Coal’s operations.
Expenses for the year were $587,312 (2017: $504,788) an increase of $82,524, 16.3%, primarily due to increased costs relating to the B-BBEE program ($75,573) and necessary legal and administrative charges in relation to the Corporations name and jurisdiction changes in Canada, offset by reduced interest on the bank loan. The Corporation incurred extra management and consultant fees due to the passing of its previous CFO, Zeny Manalo as well as transitional costs associated with the appointment and resignation of Derick Sinclair, and appointment of Rebecca Williams as CFO during the year. The Corporation does not expect any further extra ordinary management or consultant fees going forward. Additional details of general and admin expenses can be found in the table below.
Finance Cost for the year were $27,853 (2017 $86,837) a favorable variance of $58,984 (68%) as a result of nearing the end of the loan period.
At October 31, 2018, the Corporation had cash of $552,351 (October 31, 2017: $453,609) and working capital of $1,477,490 (October 31, 2017: $1,098,726). Surplus cash and cash equivalents are deposited in interest accruing accounts. Working capital components include cash in current or interest bearing accounts, trade and other receivables, sales tax receivable, inventories and prepaid expenses and deposits, trade and other payables, sales tax payable, income tax payable, and current portion of long-term debt. Trade receivables and trade payables are expected to increase or decrease as sales volumes change
JonnyRBuck12
6年前
Canaf Investments earns $623,884 (U.S.) in fiscal 2018
2019-02-28 08:24 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR YEAR ENDED 31 OCTOBER 2018
Canaf Investments Inc. has released its financial statements, and management discussion and analysis for the year ended Oct. 31, 2018.
For the year, revenue increased to $14,673,658 (U.S.) from $10,699,117 (U.S.) the previous year, and the corporation recorded a net profit of $623,884 (U.S.) in comparison to $541,808 (U.S.) the previous year. Earnings before interest, taxes, depreciation and amortization for the year was recorded at $1,028,094 (U.S.) or approximately $1.35-million.
Christopher Way, chief executive officer, states: "The annual results reflect another solid performance from the corporation's majority owned subsidiary, Southern Coal. During they year we successfully completed a strategic and important Broad-Based Black Empowerment transaction and we are now a cash-flow-positive business with zero long-term liabilities. The corporation will continue to focus its attention at making efficiencies within its South African business, as well as looking for new markets and diversification opportunities."
For more details and discussion on the results, the financial statements and management discussion and analysis can be viewed on SEDAR or the company's website.
About Canaf Investments Inc.
Canaf is a public company listed on the TSX Venture Exchange. Canaf's registered office is in Vancouver, B.C., Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing Pty. Ltd., a South African-based company that owns 70 per cent of Southern Coal.
About Southern Coal
Southern Coal produces calcined anthracite, a product used primarily as a substitute to coke in sintering processes. Southern Coal produces calcined anthracite by feeding washed anthracite coal through rotary kilns, at temperatures between 900 and 1,100 degrees centigrade; the volatiles are driven off and the effective carbon content increased.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
JonnyRBuck12
6年前
CAF numbers are out. Asset/Debt ratio keeps looking better and better, yet we trade at a lower price compared to last year? Some USD/Rand fluctuations, but we know that they paid off all the bank debt in Q1 2019 so odds are another profitable quarter will be announced next month.
Year Revenue($USD) Profit/Loss $USD) Assets ($USD) Liabilities ($USD) Asset/Liability Ratio Net Asset Value ($USD)
2007 $6,193,884 -$721,465 $7,203,120 $4,822,980 1.49 $2,380,140
2008 $9,038,397 -$2,639,324 $3,134,842 $3,336,654 0.94 -$201,812
2009 $4,561,417 -$539,609 $3,270,899 $3,239,579 1.01 $31,320
2010 $11,807,383 $551,552 $3,734,633 $3,006,923 1.24 $727,710
2011 $13,336,725 $574,766 $3,704,897 $2,673,936 1.39 $1,030,961
2012 $10,882,074 $126,169 $4,029,063 $2,871,933 1.40 $1,157,130
2013 $14,969,633 $557,797 $4,141,224 $2,426,297 1.71 $1,714,927
2014 $13,257,224 $201,330 $3,597,561 $1,681,304 2.14 $1,916,257
2015 $9,156,927 -$285,218 $3,512,225 $1,881,186 1.87 $1,631,039
2016 $4,703,528 -$162,065 $2,729,318 $1,260,344 2.17 $1,468,974
2017 $10,699,117 $439,664 $3,315,232 $1,406,594 2.36 $1,908,638
2018 $14,673,658 $298,144 $4,774,437 $1,178,597 4.05 $3,595,840
JonnyRBuck12
6年前
Canaf announces full repayment of term loan and award of B-BBEE rating
2019-01-21 10:03 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FULL REPAYMENT OF TERM LOAN AND AWARD OF B-BBEE RATING
Canaf Investments Inc.'s majority-owned South African subsidiary, Southern Coal Pty Ltd., has fully repaid a term loan. Canaf has been awarded a level 4 broad-based black economic empowerment (B-BBEE) rating.
On 07 January 2019, Southern Coal (Pty) Ltd., ("Southern Coal") the Corporation's majority owned South African subsidiary, made its final payment for the 14 million Rand loan from ABSA bank, which was drawn down in February 2015. Repayment of this loan now releases Southern Coal from monthly instalments of approximately 392,000 Rand (approx. C$37,000 or US$28,000), which the Corporation plans to allocate to future diversification or expansion projects.
On 21 January 2019, and further to the Corporation's announcement on 15 August 2018, Southern Coal was awarded a Level 4, B-BBEE rating. Christopher Way, Chief Executive Office of Canaf, states, "Achieving a Level 4 rating is a proud achievement for Southern Coal, and now frees up the company's ability to engage in long-term agreements with existing and new potential customers."
The achievement of both the repayment of debt and the award of a Level 4 B-BBEE rating further strengthens the Corporation's financial and strategic position, as it looks at new investment and expansion opportunities.
About Canaf
Canaf is a public company listed on the TSX-V Exchange. Canaf's registered 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 70% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised (calcined) anthracite.
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 rotary kilns, 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.
© 2019 Canjex Publishing Ltd. All rights reserved.
JonnyRBuck12
6年前
additional insider buying
https://ceo.ca/api/sedi?insider=&symbol=CAF&date=&transaction=&amount=&undefined[company_symbol]=CAF
Filing date: 2018-11-14
Transaction: 2018-11-14$CAF
Canaf Investments Inc. (formerly Canaf Group Inc.)Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$7,950
+100,000 vol
$0.0795 each4,950,800Older filingsFiling date: 2018-10-24
Transaction: 2018-10-24$CAF
Canaf Investments Inc. (formerly Canaf Group Inc.)Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$7,440
+93,000 vol
$0.08 each4,850,800Filing date: 2017-04-27
Transaction: 2017-04-27$CAF
Canaf Group Inc.Way, David
4 - Director of Issuer
Options
52 - Expiration of options
-500,000 vol0Filing date: 2016-12-17
Transaction: 2016-12-16$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$4,500
+75,000 vol
$0.06 each4,757,800Filing date: 2016-12-15
Transaction: 2016-12-14$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$600.00
+10,000 vol
$0.06 each4,682,800Filing date: 2016-12-10
Transaction: 2016-12-09$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$60.00
+1,000 vol
$0.06 each4,672,800Filing date: 2016-12-08
Transaction: 2016-12-08$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$1,210
+22,000 vol
$0.055 each4,671,800Filing date: 2016-12-08
Transaction: 2016-12-07$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$275.00
+5,000 vol
$0.055 each4,649,800Filing date: 2016-12-08
Transaction: 2016-12-07$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$700.00
+14,000 vol
$0.05 each4,644,800Filing date: 2015-10-19
Transaction: 2015-10-19$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
11 - Acquisition or disposition carried out privately$31,500
+450,000 vol
$0.07 each4,630,800
JonnyRBuck12
6年前
CAF Insider Buying This Week
https://ceo.ca/api/sedi?insider=&symbol=CAF&date=&transaction=&amount=&undefined[company_symbol]=CAF
DateIssuerInsiderTransactionAmountNew TotalRecent filingsFiling date: 2018-10-24
Transaction: 2018-10-24$CAF
Canaf Investments Inc. (formerly Canaf Group Inc.)Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market $7,440
+93,000 vol
$0.08 each4,850,800Older filingsFiling date: 2017-04-27
Transaction: 2017-04-27$CAF
Canaf Group Inc.Way, David
4 - Director of Issuer
Options
52 - Expiration of options
-500,000 vol0Filing date: 2016-12-17
Transaction: 2016-12-16$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$4,500
+75,000 vol
$0.06 each4,757,800Filing date: 2016-12-15
Transaction: 2016-12-14$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$600.00
+10,000 vol
$0.06 each4,682,800Filing date: 2016-12-10
Transaction: 2016-12-09$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$60.00
+1,000 vol
$0.06 each4,672,800Filing date: 2016-12-08
Transaction: 2016-12-08$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$1,210
+22,000 vol
$0.055 each4,671,800Filing date: 2016-12-08
Transaction: 2016-12-07$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$275.00
+5,000 vol
$0.055 each4,649,800Filing date: 2016-12-08
Transaction: 2016-12-07$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
10 - Acquisition or disposition in the public market$700.00
+14,000 vol
$0.05 each4,644,800Filing date: 2015-10-19
Transaction: 2015-10-19$CAF
Canaf Group Inc.Way, Christopher Robert
4 - Director of Issuer, 5 - Senior Officer of Issuer
Common Shares
11 - Acquisition or disposition carried out privately$31,500
+450,000 vol
$0.07 each4,630,800
JonnyRBuck12
6年前
Is Canaf Investments Inc’s (CVE:CAF) 18% ROE Strong Compared To Its Industry?
https://simplywall.st/stocks/ca/materials/tsxv-caf/canaf-investments-shares/news/is-canaf-investments-incs-cvecaf-18-roe-strong-compared-to-its-industry/
Is Canaf Investments Inc’s (CVE:CAF) 18% ROE Strong Compared To Its Industry?
Kyle Sanford October 6, 2018
Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for those who would like to learn about Return On Equity (ROE). We’ll use ROE to examine Canaf Investments Inc (CVE:CAF), by way of a worked example.
Canaf Investments has a ROE of 18%, based on the last twelve months. One way to conceptualize this, is that for each CA$1 of shareholders’ equity it has, the company made CA$0.18 in profit.
Check out our latest analysis for Canaf Investments
How Do You Calculate Return On Equity?
The formula for ROE is:
Return on Equity = Net Profit ÷ Shareholders’ Equity
Or for Canaf Investments:
18% = US$462k ÷ US$3m (Based on the trailing twelve months to July 2018.)
Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. It is all earnings retained by the company, plus any capital paid in by shareholders. Shareholders’ equity can be calculated by subtracting the total liabilities of the company from the total assets of the company.
What Does Return On Equity Mean?
ROE looks at the amount a company earns relative to the money it has kept within the business. The ‘return’ is the amount earned after tax over the last twelve months. A higher profit will lead to a a higher ROE. So, all else equal, investors should like a high ROE. That means ROE can be used to compare two businesses.
Does Canaf Investments Have A Good Return On Equity?
By comparing a company’s ROE with its industry average, we can get a quick measure of how good it is. However, this method is only useful as a rough check, because companies do differ quite a bit within the same industry classification. As you can see in the graphic below, Canaf Investments has a higher ROE than the average (11%) in the metals and mining industry.
TSXV:CAF Last Perf October 5th 18
TSXV:CAF Last Perf October 5th 18
That’s clearly a positive. We think a high ROE, alone, is usually enough to justify further research into a company. One data point to check is if insiders have bought shares recently.
Why You Should Consider Debt When Looking At ROE
Virtually all companies need money to invest in the business, to grow profits. That cash can come from issuing shares, retained earnings, or debt. In the first and second cases, the ROE will reflect this use of cash for investment in the business. In the latter case, the debt used for growth will improve returns, but won’t affect the total equity. That will make the ROE look better than if no debt was used.
Combining Canaf Investments’s Debt And Its 18% Return On Equity
While Canaf Investments does have a tiny amount of debt, with debt to equity of just 0.069, we think the use of debt is very modest. The fact that it achieved a fairly good ROE with only modest debt suggests the business might be worth putting on your watchlist. Conservative use of debt to boost returns is usually a good move for shareholders, though it does leave the company more exposed to interest rate rises.
The Key Takeaway
Return on equity is useful for comparing the quality of different businesses. In my book the highest quality companies have high return on equity, despite low debt. All else being equal, a higher ROE is better.
JonnyRBuck12
6年前
Article: Anthracite Coal Market Heating Up Due To Global Demand & Supply Issues
http://news-australia-today.com/index.php/2018/09/28/anthracite-market-analysis-to-2023-top-10-companies-trends-growth-factors-business-development-and-industry-analysis/
Anthracite Market Analysis to 2023 | Top 10 Companies, Trends, Growth Factors, Business Development and Industry Analysis
SEPTEMBER 28, 2018 BY MARKET RESEARCH FUTURE IN ANTHRACITE MARKET, MARKET · 0 COMMENT
Anthracite is the high-level ranking coal because it is rigid, carbon concentrated, has less moisture content, and burns efficiently than other coals. Due to its excess carbon storage and low volatiles, anthracite is more reactive and efficient with respect to energy released than the lower–ranked coals and consequently has a lower environmental impact due to the lower greenhouse gas emissions. Urbanization of the emerging economies is resulting in the largest migration of people in human history. The infrastructure required to support the resulting rapid growth is creating unprecedented demand for steel and the anthracite coal needed to produce it. Combined with declining coal reserves it is expected that there will be long-term global shortage of metallurgical coals. Approximately 500 million tons of new annual metallurgical coal production will be required by the end of the decade to service the growth in demand.
Get sample report now @ https://www.marketresearchfuture.com/sample_request/2742
Global Top 10 Key Players
Key players of the global Anthracite market are: Blaschak Coal Corporation (US), Lehigh Anthracite (US), Atlantic Coal Plc. (UK), Atrum Coal Ltd (Australia), Celtic Energy (US), Vietnam National Coal-Mineral Industries Group (US), Sadovaya Group (Europe), Vostok Coal (Russia), Siberian Anthracite (Russia), Robindale Energy Services, Inc. (U.S) and others.
Anthracite Market – Intended Audience
Anthracite manufacturers
Traders and distributors of Anthracite
Production Process industries
Potential investors
Raw material suppliers
Nationalized laboratory
Regional analysis:
The global anthracite market is classified on the basis of mixed geographic segmentation which involves regions such as America, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Anthracite market is largest market owing to robust industry growth of application industry in China, Japan and India. At a time Vietnam and Ukraine were the biggest exporters of anthracite are quickly decreasing from the market with their combined exports. The rapid decrease in anthracite exports appears unable to be supplied from other major exporters in Russia and South Africa, resulting in a tight supply and demand dynamic, creating a strong price environment.
China is major dominating country owing to large scale production of end user industries such as metallurgy and power & energy. Russia led to the second position in terms of producing anthracite followed by Ukraine, Vietnam, Korea, South Africa, US, and others. While the major exporter of anthracite in decreasing order are Vietnam, Russia, China, North Korea, South Africa, US, Germany, UK, and others. On the other hand the major importers of anthracite in decreasing order are China, Japan, South Korea, France, Belgium, Bulgaria, Brazil, and others.
Browse Complete Report at https://www.marketresearchfuture.com/reports/anthracite-market-2742
Mining of high-quality anthracite occurs mainly in China, Russia, South Africa, Ukraine, the United States and Vietnam. There is sizeable production in some western European countries, but the quality is primarily suitable only for power generation. In terms of exporting, countries such as Russia and Ukraine have become the dominant suppliers to world markets over the past seven years due to their lower production costs. In Asia, Russia is constantly replacing China and Vietnam in various markets. In the western region, Ukraine is becoming the important anthracite supplier.
Russia has emerged in recent years as the key anthracite supplier to Europe and other markets around the world. Production in Ukraine has been affected by the conflict in the east of the country since 2014 but may recover from now on. Vietnam’s position as world supplier is continuous decaling due to its high cost producing charges. Other sources such as South Africa and the United States focus primarily on their domestic markets, with small exports.
Segmentation
The global Anthracite market is majorly segmented on the basis of application, end users and region. Based on application of Anthracite the market is segmented into fuel, steel making, sinter plants, indurating furnaces, furnace coal replacement, and others. Based on end user the market segmented steel , energy & power, bricks, silicon & glass, synthetic fuels, others and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
The post Anthracite Market Analysis to 2023 | Top 10 Companies, Trends, Growth Factors, Business Development and Industry Analysis appeared first on Herald Keeper.
JonnyRBuck12
6年前
Canaf Group Inc.(CAF.V) Q3 2018 Results. Financials + MD&A
Ending July 31st 2018. All information can be found at www.sedar.com
TSXV Symbol: CAF - OCTBB Symbol: CAFZF
Price: $0.11
Common Shares: 47,426,195
Insider Holdings: 12,304,085 or 26% - Majority Owned By CEO & Family
Warrants/Options: 0
Website: www.canafgroup.com
Financials (All In US Dollars)
ASSETS
Cash: $1,252,240
Trade Receivables: $1,682,075
Sales Tax Receivable: $20,078
Inventories: $685,983
Prepaid Expenses: $25,496
Property & Equipment: $808,845
Intangible: $1
Total Assets: $4,474,719
LIABILITIES
Trade Payables: $1,684,853
Sales Tax Payable: -$859
Income Tax Payable: $72,029
Current Portion Of Bank Loan: $174,801 - Due Jan 2019
Total Liabilities: $1,930,824
Q1-Q3 Performance
Sales: $12,137,604
Gross Profit: $933,187
G&A Expenses: ($444,535)
Interest Income: $53,645
Income Tax Expense: ($26,192)
Foreign Currency Gain: $119,153
Net Income For 2018: $635,257
Management Discussion & Highlights
OVERALL PERFORMANCE AND OUTLOOK
Revenues for the nine months were $12,137,604 (2017 - $8,443,667) a 43.7% increase, and the Corporation continues to
be profitable with gross profits of $933,187 (2017 - $889,225) a 4.9% increase and net income for nine month period
ended July 31, 2018 of $516,105 (2017 - $595,716) a 13% reduction. While revenues and gross margin have grown,
increased cost of sales produced smaller gross margin percentages, 2018 7.7% (2017 10.5 %). The reduction in the gross
margin is mainly due to major maintenance and re-commissioning costs during the period as well as various one off
costs.
The Corporation expects to continue to operate profitably into Q4, however Revenue is expected to reduce slightly as
demand for calcine reduces slightly due to a slowing in manganese and steel production downstream of the supply chain.
The Corporation cannot be sure of how long this slight reduction in demand will continue for, however remains
confident that Southern Coal will continue to operate profitably as it continues to work with a potential new customer
with the intention to secure a new long-term supply contract.
Whilst continuing to ensure that Southern Coal continues to generate free cash flow, the Corporation is also actively
exploring new opportunities in South Africa and its neighbours, as it accumulates cash and reduces its gearing; from
January 2019 Southern Coal will have completed the repayment of the 14 million Rand loan with ABSA which will
add approximately $26,000 per month to its cash-flow.
The Corporation’s B-BBEE transaction for the sale of 30% of Quantum’s shares in Southern Coal for 18 million Rand
was completed during the quarter. This marks a significant milestone in the strategic plan to bring Southern Coal’s BBBEE
rating in line with its existing and potential new customers’ requirements. The revised effective date for the
transaction is 01 August 2018.
BROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION (B-BBEE)
As part of Southern Coal’s B-BBEE transformation program, Amandla Amakhulu (Pty) Ltd., (“AAM”), a 100% black,
privately owned, and ringfenced, company incorporated in South Africa, acquired 30% of the issued shares of Southern
Coal, from Canaf’s wholly owned subsidiary, Quantum, for the value of 18 million Rand. The revised effective date
for the transaction is 01 August 2018.
Quantum in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price.
These preference shares shall provide preferential dividends, until redeemed by AAM. These dividends will be secured
by an irrevocable direction from AAM to Southern Coal to pay Quantum such dividends from any distribution to
AAM.
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 by MMAKS Advocates, Kampala, against KML is at no cost to the Corporation, but any
award in won by MMAKS efforts 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.
Sales
Revenue for the nine months was $12,137,604 (2017 - $8,443,667), 44% increase due to high demand for Southern
Coal's calcine product from both of its main customers, particularly in Q2. The Corporation is confident that
Sales will remain at profitable levels in to Q4, however expects to see a slight reduction in comparison
to Q3, as demand falls off slightly.
Expenses
Expenses for the nine months were $444,535 (2017 - $237,288) an increase of $89,286, 25%, primarily due to
increased costs relating to the B-BBEE program and major maintenance costs on Southern Coal’s old calcining
facilities. Other one off expenses that were incurred during the period were legal costs relating to the Corporation’s
name change, as well as back dated rent for Southern Coal’s premises which were negotiated at approximately $20,000.
General administrative and finance expenses for the nine month period were $418,788 (July 31, 2017 - $312,829) an
unfavorable variance of $105,959, primarily due to increased involvement in South Africa’s B-BBEE program and
increased activity resulting in higher management fees and office expenses. The Corporation incurred extra
management and consultant fees due to the passing of its previous CFO, Zeny Manalo as well as transitional costs
associated with the resignation and appointment of its CFO during the year. The Corporation does not expect any further
extra ordinary management or consultant fees going forward.
Comprehensive Income
The Corporation is not subject to currency fluctuations in its core activities however the Corporation is subject to
transactions in various currencies and the volatility in international currency markets does have an impact on some
costs and the translation into US$ the reporting currency of the Corporation. The current period comprehensive gain on
foreign exchange in the amount of $119,153 (2017 - $27,014) is primarily as a result of the translation into US$ the
reporting currency. As at July 31, 2018 the Corporation has net comprehensive gain of $635,257 (July 31, 2017 -
$622,730.) The Corporation does not hedge net asset translation movements.
LIQUIDITY AND CAPITAL RESOURCES
At July 31, 2018, the Corporation had cash of $1,252,240 (October 31, 2017 - $453,609) and working capital of
$1,735,049 (October 31, 2017 - $1,098,726). Surplus cash and cash equivalents are deposited in interest accruing
accounts.
Working capital components include cash in current or interest bearing accounts, trade and other receivables, sales tax
receivable, inventories and prepaid expenses and deposits, trade and other payables, sales tax payable, income tax
payable, and current portion of long-term debt.
Trade receivables and trade payables are expected to increase or decrease as sales volumes change.
JonnyRBuck12
7年前
Canaf finalizes subsidiary Southern Coal B-BBEE deal
2018-08-15 11:12 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINALISATION OF B-BBEE TRANSACTION FOR ITS SOUTH AFRICAN SUBSIDIARY
Canaf Investments Inc., formerly known as Canaf Group Inc., has finalized its new Broad-Based Black Economic Empowerment transaction for its South African subsidiary, Southern Coal Pty. Ltd.
Further to the announcement dated July 6, 2018, the corporation can confirm that Amandla Amakhulu (RF) Pty. Ltd., a 100% black, privately owned ringfenced company incorporated in South Africa, has acquired 30% of the issued shares of Southern Coal, from Canaf's wholly owned subsidiary, Quantum Screening and Crushing (Pty) Ltd., ("Quantum"), for the value of R18million (C$1.7m approx), with effective date 03 July 2018.
Quantum has in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price, R18million (C$1.7million approx). These preference shares shall provide preferential dividends, until all preference shares have been redeemed by AAM. These dividends are subject to terms and conditions requiring AAM to pay Quantum such dividends from any distribution received from Southern Coal and is also subject to further protective conditions to the benefit of Quantum.
Christopher Way, Chief Executive Officer of Canaf, states, "the finalisation of the transaction with Amandla Amakhulu marks a significant milestone in a strategic plan to bring Southern Coal's B-BBEE rating in line with our customers requirements. It is with great pleasure to deliver what we have promised to our customers."
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., a South African based company that owns 70% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised anthracite.
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 rotary kilns, 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.
JonnyRBuck12
7年前
Chinese investors plan $10-billion metallurgical complex in South Africa
https://energy.economictimes.indiatimes.com/news/coal/chinese-investors-plan-10-billion-metallurgical-complex-in-south-africa/65165471
Chinese investors plan $10-billion metallurgical complex in South Africa
South Africa's President Cyril Ramaphosa said at a joint news conference with Xi on Tuesday that China had committed to invest $14.7 billion in the South African economy, but neither leader mentioned the $10-billion complexREUTERS | July 27, 2018, 17:31 IST
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JOHANNESBURG: Chinese investors signed agreements to build a $10-billion metallurgical complex in South Africa during President Xi Jinping's state visit this week and hope to start construction next year, an executive involved in the project and a provincial official told Reuters.
South Africa's President Cyril Ramaphosa said at a joint news conference with Xi on Tuesday that China had committed to invest $14.7 billion in the South African economy, but neither leader mentioned the $10 billion complex.
Ramaphosa is on a mission to kickstart economic growth after a decade of stagnation and is targeting $100 billion in new investment over five years.
The complex, which is still in the planning stage and envisages building a stainless steel plant, a ferrochrome plant and a silicomanganese plant, is a much-needed vote of confidence in the sputtering South African economy.
Trade and Industry Minister Rob Davies said on Tuesday that China was considering a metallurgical project in a special economic zone (SEZ), but he did not reveal the scale of the project or timeframe.
The executive involved in the project, who did not wish to be named because he was not authorised to speak to the media, said memoranda on the complex were signed before Xi and Ramaphosa gave news conference on Tuesday.
"The investors for the SEZ project were in the room when Ramaphosa and Xi spoke to the press," the executive said.
Richard Zitha, a project executive at the Musina-Makhado SEZ where the complex will be based, said the project was being led by Chinese state-owned companies, but he declined to name them.
He said the Chinese investors would look for Black Economic Empowerment partners to comply with South African rules designed to address racial disparities more than two decades after the end of apartheid.
The investors were open to investors from other countries joining at a later stage, he said.
"The investors have been in South Africa for around a week and have visited mines to look for inputs for the project," Zitha said.
The Musina-Makhado SEZ is in Limpopo province close to South Africa's borders with Mozambique, Zimbabwe and Botswana.
The SEZ plans to house plants with a capacity of 3 million tonnes per annum of stainless steel, 3 million tonnes per annum of ferrochrome and 500,000 tonnes per annum of silicomanganese. Those capacity targets are subject to change and will be finalised by the end of the year, the executive said.
A coal-fired power plant, coking plant and coal washery will be built alongside the metallurgical plants, a presentation prepared for investors showed.
Some of the steel output for the complex has been earmarked for export to China, while other products would be sold to countries in southern Africa, the executive said.
South Africa is already a major exporter of metal alloys to China.
Investors are hoping to receive the necessary environmental approvals by the end of March and would then start construction, Zitha said.
JonnyRBuck12
7年前
Canaf Group to sell 30% of unit for $1.7M
2018-07-06 10:44 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES B-BBEE TRANSACTION FOR SOUTH AFRICAN SUBSIDIARY
Canaf Investments Inc., formerly known as Canaf Group Inc., has provided the terms of its new broad-based black economic empowerment (B-BBEE) transaction for its South African subsidiary, Southern Coal (Pty.) Ltd.
As part of Southern Coal's continuing B-BBEE transformation program, Amandla Amakhulu (Pty) Ltd. (AAM), 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 18 million South African rand (approximately $1.7-million (Canadian)).
Quantum will in return receive cumulative, redeemable preference shares in AAM in the amount of the purchase price, 18 million rand (approximately $1.7-million (Canadian)). These preference shares shall provide preferential dividends, until redeemed by AAM. These dividends will be secured by an irrevocable direction from AAM to Southern Coal to pay Quantum such dividends from any distribution to AAM. The transaction will close by Aug. 31, 2018.
Christopher Way, chief executive officer of Canaf, states: "The signing of this important agreement to sell 30 per cent of Quantum's shares in Southern Coal, confirms our intention to ensure that Southern Coal achieves the required B-BBEE level for the current financial year. We remain focused on securing new long-term contracts for the existing business and also continue to look at diversification opportunities in South Africa and its neighbours."
In addition to this transaction, Southern Coal can confirm that it remains on track in ensuring that all other areas of its B-BBEE transformation plan, including its enterprise, socio-economic, skills, and supplier and development programs, are fully invested in, so to ensure that the company reaches its desired level.
About Canaf Group Inc.
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. As of July 3, 2018, Quantum agrees to sell 30 per cent of its shares in Southern Coal for the net consideration of 18 million rand; the transaction will close by Aug. 31, 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 1,100 C; 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.
JonnyRBuck12
7年前
Canaf Group Inc.(CAF.V) Q2 2018 Results. Financials + MD&A
All information can be found at www.sedar.com
Price: $0.11
Common Shares: 47,426,195
Warrants/Options: 0
Website: www.canafgroup.com
Financials (All In US Dollars)
ASSETS
Cash: $315,407
Trade Receivables: $3,604,555
Sales Tax Receivable: $3,091
Inventories: $418,389
Prepaid Expenses: $20,028
Property, Plant & Equipment: $953,801
Intangible: $1
Total Assets: $5,315,272
LIABILITIES
Trade & Other Payables: $2,296,780
Sales Tax Payable: $17,689
Income Tax Payable: $129,439
Bank Loan(Due Jan 2019): $271,611
Total Liabilities: $2,715,519
Asset/Debt Ratio: 1.96:1
Six Month Performance(Q1 & Q2 2018)
Sales: $8,698,426
Net Income: $691,115 USD
Net Income for 2017(Q1-Q4): $541,808 USD
Earnings per share in 2018:
$691,115USD X 1.31 CAD(June 29th 2018) / 47,426,195 = $0.019 cents CAD
Earnings per share over 6 quarters:
$1,232,923 X 1.31 CAD /47,426,195 = $0.034 cent CAD
MD&A Highlights
Revenues for the six months were $8,698,426 (2017 - $6,482,459) a 34% increase, and the Corporation continues to be profitable with gross profits of $703,169 (2017 - $684,905) a 2.7% increase and net income for six month period ended April 30, 2018 of $449,880 (2017 - $429,652) a $20,288, 4.7% increase. While revenues and gross margin have grown, increased cost of sales produced smaller gross margin percentages, 2018 8.1% (2017 10.6%).
The reduction in the gross margin is mainly due to a major maintenance project during the period. The Corporation expects to continue to operate profitably into Q3 and Q4, however Revenue is expected to drop, due to a reduction in demand caused primarily by one of Southern Coals main customers’ internal coke breeze coming back online.
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 and neighbouring countries.
The Corporation’s B-BBEE transaction for the sale of 30% of Quantum’s shares in Southern Coal remains on track to be completed during the current fiscal year. Following the termination of the initial agreement announced on 20 February 2018, a new B-BBEE partner has been identified and initial terms of the agreement, which will remain much the same as the previously agreed transaction, are expected to be announced during Q3.
Sales from the Corporation’s South African coal processing business are substantially derived from two customers and as a result, the Corporation is economically dependent on these customers. The Corporation’s exposure to credit risk is limited to the carrying value of its accounts receivable. As at April 30, 2018, trade receivables of $3,604,555 (October 31, 2017, $1,314,828) were due from these customers and were collected subsequent to period-end.
The bank loan bears interest at 10.25% per annum, matures on January 7, 2019, and is secured by the Corporation’s furnace acquired with the proceeds from the loan. The bank loan is repayable in blended monthly payments of Rand 391,624 ($32,359.89 translated at April 30, 2018 exchange rate)). During the six month period ended April 30, 2018, the Corporation incurred interest expense totaling $19,909 (April 30, 2017 – $29,658).
Expenses for the six months were $304,980 (2017 - $237,288) an increase of $67,692, 29%, primarily due to increased costs relating to the B-BBEE program
General administrative and finance expenses for the six month period were $285,071 (April 30, 2017 - $207,630) an unfavourable variance of $77,441, primarily due to increased involvement in South Africa’s B-BBEE program and increased activity resulting in higher management fees and office expenses. Additional detail of general and admin expenses can be found in the table below.
JonnyRBuck12
7年前
Newest article on CAF. Won't matter because in 6 business days or sooner we will see Q2 results. 40% revenue increase, stronger South African Rand/US Conversion, High coking coal prices, decreased expenses based on what was stated in Q1 MD&A, the combination should generate a much larger overall profit for the second quarter. I am estimating between $750-800K USD. Keep in mind that $473K CAD is $0.01c earnings, so after 6 months if we earn over $1 million USD, stock fair value is around $0.30 based on a 10X multiple.
https://simplywall.st/stocks/ca/materials/tsxv-caf/canaf-group-shares/news/how-financially-strong-is-canaf-group-inc-cvecaf/
Autumn Haas June 22, 2018
While small-cap stocks, such as Canaf Group Inc (CVE:CAF) with its market cap of CA$5.45m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. So, understanding the company’s financial health becomes vital, since poor capital management may bring about bankruptcies, which occur at a higher rate for small-caps. Here are few basic financial health checks you should consider before taking the plunge. However, since I only look at basic financial figures, I recommend you dig deeper yourself into CAF here.
Does CAF produce enough cash relative to debt?
CAF has shrunken its total debt levels in the last twelve months, from CA$702.23k to CA$416.88k , which is made up of current and long term debt. With this debt repayment, the current cash and short-term investment levels stands at CA$453.61k , ready to deploy into the business. Moreover, CAF has produced CA$587.51k in operating cash flow over the same time period, leading to an operating cash to total debt ratio of 140.93%, meaning that CAF’s current level of operating cash is high enough to cover debt. This ratio can also be interpreted as a measure of efficiency as an alternative to return on assets. In CAF’s case, it is able to generate 1.41x cash from its debt capital.
Can CAF pay its short-term liabilities?
At the current liabilities level of CA$1.18m liabilities, it appears that the company has maintained a safe level of current assets to meet its obligations, with the current ratio last standing at 1.93x. For Metals and Mining companies, this ratio is within a sensible range as there’s enough of a cash buffer without holding too capital in low return investments.
TSXV:CAF Historical Debt June 21st 18
TSXV:CAF Historical Debt June 21st 18
Does CAF face the risk of succumbing to its debt-load?
With debt at 16.11% of equity, CAF may be thought of as appropriately levered. This range is considered safe as CAF is not taking on too much debt obligation, which may be constraining for future growth. We can test if CAF’s debt levels are sustainable by measuring interest payments against earnings of a company. Ideally, earnings before interest and tax (EBIT) should cover net interest by at least three times. For CAF, the ratio of 10.57x suggests that interest is comfortably covered, which means that debtors may be willing to loan the company more money, giving CAF ample headroom to grow its debt facilities.
Next Steps:
CAF has demonstrated its ability to generate sufficient levels of cash flow, while its debt hovers at a safe level. In addition to this, the company exhibits proper management of current assets and upcoming liabilities. Keep in mind I haven’t considered other factors such as how CAF has been performing in the past. You should continue to research Canaf Group to get a better picture of the stock by looking at:
Future Outlook: What are well-informed industry analysts predicting for CAF’s future growth? Take a look at our free research report of analyst consensus for CAF’s outlook.
Historical Performance: What has CAF’s returns been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity.
Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here.
JonnyRBuck12
7年前
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 – $15,322).
JonnyRBuck12
7年前
CAF 10 Year Performance Chart
Year Revenue($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
JonnyRBuck12
7年前
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.
JonnyRBuck12
7年前
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.
JonnyRBuck12
7年前
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.
JonnyRBuck12
7年前
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.
JonnyRBuck12
7年前
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
JonnyRBuck12
7年前
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.
JonnyRBuck12
7年前
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
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