This seems to be where the hot money is going at the moment so I'm in for a few. Tipped in the In/C last week has the potential to soar like Uramin according to the other side. I haven't put the house on it but fairly pleased so far since buying yesterday.

from this is money couk 24 sept refrence coal and AU.CBRY
His advisers, led by US broking giant Goldman Sachs, are said to be currently working on various mouth-watering corporate deals, at least one of which is expected to see the light of the day well before the end of the year.
Hot gossip suggests Mittal's number one takeover priority is Coal Of Africa, 4p better at a year's high of 1191/4p, and a cash offer of 250p a share is in the pipeline.

He already owns 16.3% of the mining group, via his giant steel company Arcelor Mittal, where he is chairman and chief executive.

Speculation has been rife since he bought the stake in April that it would be only be a matter of time before he swallowed the rest of the group's equity. Its loose change for him.

Coal of Africa owns coal mines at Mooiplaats, Vele and Makhado in South Africa. Coal production is increasing and should it reach maximum levels, the shares would be worth treble their current value.

Morgan Stanley recently moved the stock to overweight, saying it had an 'attractive risk reward profile'. Its target price is 150p but that rises to 380p on a bull case scenario.

Disappointing existing US home sales, which fell 2.7% to 5.1m in August, the first monthly drop in five months, brought the Footsie off the boil.

As Wall Street dropped 74 points on the data, London followed suit. The blue-chip index lost a 26 point gain to finish 60.10 points lower at 5,079.27, while the FTSE 250 shed 123.99 points to 9,093.02.

Punters chased software giant Autonomy up to 1650p as rumours of a 28 a share bid from Microsoft did the rounds. Fund managers soon dismissed that idea and said the rise had more to

do with a bullish note from Bank of America/Merrill Lynch. The broker lifted its target price to 19 from 1660p. Late profit-taking left the close at 1610p, but still 47p up on balance.

Awaiting a knock-out 9-a-share bid from Kraft, Cadbury Schweppes rose 51/2p to 798.94p.

A 250p bid will do for me.

Found the story on the mail site.... this is hot news.......

Yesterday's trading: Mittal is steeling himself for deals

Geoff Foster, Daily Mail

24 September 2009, 9:34pm

Lakshmi Mittal, the Indian-born steel tycoon and Britain's richest man worth an estimated fortune of 12.5bn, is on the
acquisition
trail.

His advisers, led by US broking giant Goldman Sachs, are said to be currently working on various mouth-watering corporate deals, at least one of which is expected to see the light of the day well before the end of the year.
Hot gossip suggests Mittal's number one takeover priority is Coal Of Africa, 4p better at a year's high of 1191/4p, and a cash offer of 250p a share is in the pipeline.

He already owns 16.3% of the mining group, via his giant steel company Arcelor Mittal, where he is chairman and chief executive.

Speculation has been rife since he bought the stake in April that it would be only be a matter of time before he swallowed the rest of the group's equity. Its loose change for him.

Coal of Africa owns coal mines at Mooiplaats, Vele and Makhado in South Africa. Coal production is increasing and should it reach maximum levels, the shares would be worth treble their current value.

Morgan Stanley recently moved the stock to
overweight
, saying it had an 'attractive risk reward profile'. Its target price is 150p but that rises to 380p on a bull case scenario.

Talk going on around the boards on this possible bid.

looks to have got off to a flyer this morning on the back of this news................100% premium if it comes to fruition........come on my son

Yep was hoping for a bit more than this but if a bid does come in at 250p what the heck.

Ive also found that mittal was interested in a bid back in 2007/2008 so it seems he wants his baby after all.

The London Stock Exchange is set to embark on a spree of deals in a bid to transform the company. Cazenove is on the hunt for targets as the LSE's chief executive, Xavier Rolet, ponders further price cuts to respond to the competitive threat posed by rivals such as Chi-X and Turquoise. ....... or Plus?


http://www.independent.co.uk/news/business/news/new-lse-chief-cuts-staff-as-he-prepares-to-take-on-rivals-1792878.html

yes would certainly help.

tell me about it.......all my others have gone a bit belly up withe current market sell off...just seen
http://robson1974.webs.com/coal%20of%20africa/cza%20ms%20sep%202009.jpg
makes an interesting read

That must be this weekend tip from broker morgan stanley. Thanks for that WZ il whip it around the other boards..... cheers.

Picked up a few more cza on the intraday pull back.

Everything in place for a bid so im going for it with this one.

Extending gains this lunchtime.

Gets a mention here......

http://ftalphaville.ft.com/blog/2009/09/25/74016/markets-live

Had another look at this broker note and it would appear we are set for a raft of news in the coming months which should see further momentum in the SP...

Edison broker note....

From the 22nd....

http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=2236

I note Zaks (Zak Mir) post above re- to African Coal CZA and yes would agree in the short term the macd is showing overbought .......BUT it must be noted that investors are expecting news on a NOMR (mining permit) probably by the end of this next week. If you read this Broker note from Edison from last week you will see the significance they attach to this if the outcome is positive.

http://www.edisoninvestmentresearch.co.uk/?ACT=18&ID=2236

Must be also noted that we have other news on the horizon so fingers crossed.

Tried to put a positive TA picture together here and looking for first hurdle of 150p being overcome pretty sharpish if fundies work out in CZAs favour.

Good luck.....

"

News out this morning and seems its scared a few traders out but hopefully the real good news will come over the next few months hopefully starting with granting of permit news this week.......

CoAL denies any takeover approaches

Business Financial Newswire
Coal of Africa Limited says it has not received any takeover approaches.

The firm was responding to media speculation regarding an offer for the company.



Story provided by Business Financial Newswire

TA very positive...

and why shouldnt it be.

Ok not a good day today but stocks do take a breather now and again.

Just look at the positives here from this TA Yank site....

http://quote.barchart.com/texpert.asp?sym=CZA.LS

Oh... I am excited too.

IMHO - VERY STRONG BUY AT THIS SP - THERE IS NOTHING TO WORRY ABOUT - LOL LOL!!!
ANNOUNCEMENT 4 NOVEMBER 2010



RESPONSE TO MEDIA ARTICLE REGARDING MOOIPLAATS

Coal of Africa Limited ("CoAL" or "the Company"), the coal mining and development company operating in South Africa (ticker: CZA) and listed on the AIM, ASX and JSE, notes recent press articles published by media in South Africa on 3 November 2010 regarding the Company's activities at the Mooiplaats Colliery in Mpumalanga, together with the Company's recent announcement of 3 November 2010.

Coal would like to emphasise the following:

1. Mooiplaats has complied fully with all the DMR requirements

2. The Pre-compliance Notice is based on the Department of Environmental Affairs' NEMA requirements. If the principles of applying this ruling are consistently applied across the mining industry nearly every mine in this country would be forced to close.

3. Mooiplaats, in good faith, is in the process of complying with NEMA and a Compliance Notice is therefore unnecessary

4. Lack of clarity and consistency in the application of regulatory compliance negatively impacts on investment in SA and can cause significant job losses.

5. Mooiplaats will comply fully with the Pre-compliance notice.

The Colliery Environmental Management Plan (EMP) was approved on 25 September 2007 by the Department of Mineral Resources (DMR). Development of the mining area commenced in August 2008 and the financial liability provision and assessment plan was submitted for 2009 and updated in 2010.

Application was not initially made in terms of NEMA for authorization as these activities were authorized by the EMP and the general understanding within the mining industry is that as this involves a full EIA process and the environmental authorities are involved in that process no separate EIA is required for activities directly related to mining.

The Company acknowledges that it has received a pre-compliance notice (Notice) from the Mpumalanga Department of Economic Development, Environment and Tourism ("MDEDET") noting its intention to issue a Compliance Notice in terms of section 31L of the National Environmental Management Act in relation to activities undertaken by the Company on portions 1 and 9 Farm Mooiplaats 219 IT in Ermelo ("Compliance Notice"). However CoAL would like to take this opportunity to state that, contrary to the media reports, it has not been instructed nor is required by law to stop activities at the mine and only in the event that a Compliance Notice is received, will mining activities need to cease.

Pursuant to the terms of the Notice, CoAL may make an application for rectification within 10 days of receipt of (11 November 2010), following which the Department has stated that it may decide not to issue the Company with a Compliance Notice.

The activities referred to in the Notice include the construction of facilities or infrastructure, including associated structures or infrastructures:

for the storage of more than 250 tonnes but less than 100,000 tonnes of coal;

in the one in ten year flood line of a river or stream or within 32 metres from the bank of a river or a stream where the floodline is unknown;

for any process or activity which requires a permit or licence in terms of legislation governing the generation or release of emissions, pollution, effluent or waste and which is not identified in Government Notice No. R386 of 2006; and

for the manufacturing or storage or testing of explosives, including ammunition, but excluding licensed retail outlets and the legal end use of such explosives.

Other interactions with the environmental authorities include;

25 March 2009; meeting with Mpumalanga Department of Agriculture & Land Affairs was held to finalise approvals required for the construction phase to start;

27 March 2009; meeting was held with the Department of Water Affairs ("DWA") to discuss the Integrated Water Use License Application ("IWULA"). The DWA recommended that the colliery submit an IWULA for both Mooiplaats North and South as a single entity. Mooiplaats South is scheduled to commence production in 2012; and

10 June 2009 the Colliery management had a site meeting with MDEDET and the following activities were listed as requiring a Section 24 G application;

o The construction of the road and the stream crossing;

o Diesel storage tanks;

o Sewage Treatment Plant; and

o The excavation and in-filling of soil in a river/stream

The S24G applications were submitted on 15 June 2010 for all activities identified. The acknowledgement of the S24G applications was received from MDEDET on 23 June 2010. On 10 June 2009 the Processing Plant, coal stockpiles and explosives store were not identified by the MDEDET officers as activities that needed rectification.

Regional Interactions

Mooiplaats Colliery actively participates in the Grootdraai Dam Catchment Forum where regular feedback is given on activities and water qualities at Mooiplaats Colliery in the presence of DWA and MDEDET officials. Regular testing at two DWA sampling points revealed that the Colliery is within acceptable levels at the downstream sampling point situated at the Vaal River the suphate concentration is below 200mg/l. Therefore the recent allegation that the Colliery is polluting the Witpuntspruit which feeds into the Vaal River is incorrect.

When mine management at the Colliery enquired from the relevant officials the motivation for the Notice in view of the on-going interactions and rectification processes already being implemented, the responses were that of surprise and uncertainty from the officials actually dealing with these matters.

The delivery of a Pre-compliance notice with threats of closure for activities that commenced in 2008 is inconsistent with all prior Departmental interactions and, in the Company's view, totally unjustified. If the principles of applying this ruling are consistently applied across the mining industry, the Company is of the opinion that the majority of mines in this country would be forced to close. Mining related activities are specifically approved under the MPRDA at the time the Company executes a NOMR with the simultaneous approval of the EMP.

Since my appointment to Coal of Africa in July 2010, we have acknowledged the shortfalls that have manifested during the rapid growth of the Company over the past 2 years. I have also repeatedly emphasized that CoAL is moving into a new era as a mining production company with a commitment made to comply fully with all legislation. This position is supported by its ambition to graduate to the Main Stock Exchange in London which expects corporate governance of the highest level.

The Company has to date, in a short space of time, attracted well in excess of R2billion of direct foreign investment into South Africa and already employs over 1000 people. There is support from our major shareholders to increase this substantially when required to develop the economically transformative projects near Makhado.

The Company is now left with no choice but to explore all legal and constitutional options to ensure that the rights of the Company, its employees and shareholders are protected as much as possible.

The Company's intention in relation to the pre-compliance notice is to seek rectification as specified for the activities commenced, but it does not believe this is a circumstance in which closure, pending consideration of the application, is warranted and will pursue all its available options in this regard.


JOHN WALLINGTON

Chief Executive Officer

Tipped by Shares Mag this week as a recovery play.