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.

I think your summung up is pretty much how i see it,quite often the same logic applies to bad news,where the market over-teacts,before finding a truer level.Takes a lot of nerve to trade in such circumstances,i'm a little less risk adversed in my old age.
As to CZA,i thought it near it's bottom and with pending news,thought it resonably safe? GL with your uivestments,but take care as their's some sharks out there?

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http://www.asx.com.au/asxpdf/20130107/pdf/42c9hysz8kw4b6.pdf

CZA:Flying today on the latest news.

09 January 2013

ANNOUNCEMENT 9 January 2013
Beijing Haohua Energy Resources Co. confirms receipt of Chinese regulatory approval for US$100 million investment

Coal of Africa Limited ("the Company" or "CoAL") is pleased to announce that Haohua Energy International (Hong Kong) Co. Limited ("HEI"), a wholly owned subsidiary of Beijing Haohua Energy Resource Co. Limited ("BHE"), has advised the Company that it has received the requisite approvals ahead of schedule from the relevant authorities in the People's Republic of China ("PRC") to proceed with the subscription for US$100 million of CoAL shares at a price of GBP0.25 per share in accordance with the definitive Subscription Agreement ("Subscription Agreement").

The requisite approvals include the Beijing Municipal Commission of Development and Reform 'Approval on the transaction of BHE's share subscription from CoAL' and the National Development and Reform Commission's 'Major local overseas investments transaction approval and registration' to the Beijing Municipal Commission of Development and Reform. The approvals are valid for two years.

Under the Subscription Agreement, the Initial Placement of US$20 million has been received by the Company and the Conditional Placement of US$80 million remains subject to shareholder approval. As announced on 24 December 2012, the Notice of the Extraordinary General Meeting ("EGM") to be held on 25 January 2013, has been dispatched to shareholders to consider and approve the US$100 million investment by HEI at the EGM.

CoAL Chairman, David Brown said, "I am pleased that the remaining approvals required by HEI to complete the transaction have been received ahead of the shareholder meeting on 25 January. Upon the conclusion of this transaction, CoAL will be well placed to execute its

interesting situation but it has risen far too much imho.

Appears there will be no need for a rights issue for Coal of Africa according to a news interview with the director as he stated CZA has the full support of large investors, so the share price should recover back to the last 15p resistance level short term, as the recent drop down was due mainly to shareholders expecting a fund raising/dilution which is now off the cards for now, and the management states they are hopeful of big increases in CZA share value over the next 2 years. So might see CZA back at the £1 level again with some luck.

so probably a good time to buy this at the present low level?