|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, especially in the "dagga belt", an area including the Eastern Cape and KwaZulu-Natal provinces 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. 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. Most of the national product is consumed domestically or regionally, but increasing amounts are seized in Europe.
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
| Reply to Jimjones1972 - Msg #6114 - 01/29/2018 13:02|
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.
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.