Mihal, welcome back...Jason said exactly the same thing in his...

Mihal, welcome back...

Jason said exactly the same thing in his email a few days ago..in fact used the same charts and similar comments to yours...pasted his email below .....that's when I asked him about the $10M gift raising..which will dilute the company by 25%....and Bergin converting their debt to shares at 8.2 cents a pop....which was hidden behind one of the annoucements CCC style...more dilution and..the $10M Vanmag..debacle....and no updates on Botswana, Mashala 100% acquisition etc...he even put a comment that he knows how shareholders feel he's down quiet a bit on his investment and that shareholders should be involved in future raisings......i havent pasted the charts since its the same as yours...


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Thought you may want to also look at a few other coal companies operating in South Africa.

Ikwezi Coal also operating in South Africa with a new mine development underway.

Interesting to see the similarities in performance over the past 6 month, 3 month and even 1 month.

No excuses but clearly broad coal markets, exposure to South Africa and so on has not assisted.









African Energy not to different performance either over the past 6 months:



ZYL also advancing their project in South Africa



Even BTU not looking too good in comparison as well



Without a doubt we have been smashed down and its not good. But not too many mysteries as to why given the environments we operate in.

Thought this may be useful for you though.