Canaf ArticleSpotted this on the web last night.....
https://upticknewswire.com
(UPTICK Newswire- September 18,2014)–Canaf Group, (“Canaf”) the publically listed company on the TSX Venture Exchange, (CAF.V) is now benefiting from sustainable and organic growth due to the new opportunities generated through its South African anthracite coal beneficiation operation.
Following the Company’s incorporation over a decade ago, the Company explored a number of different mining opportunities in Africa – which helped the Company define its future and manoeuvre the direction of the Company away from riskier ‘blue sky’ opportunities to focus on growing the Company’s core asset, Quantum Screening & Crushing (Pty) Ltd., (“Quantum”), which it acquired in 2007.
Quantum is a South African company that processes anthracite coal into a coke replacement by processing it through two heated kilns. Quantum’s impressive client base currently includes BHP Billiton and ArcelorMittal SA who use the product as a replacement to coke in the sintering process for the production of manganese and steel respectively. The Company is now looking to expand Quantum’s market share by increasing its production, and increase its margins by implementing new more efficient equipment.
Over the past four years Canaf shareholders’ equity for its 47 million issued shares has grown from US $0.04m in 2009 to US $1.8m for the year ended Oct 31, 2013, when the Company announced a year-end net profit after tax of US$0.84 m; shareholder equity for the Company is expected to far exceed US$2m for the year-end October 31, 2014.
Christopher Way, CEO, says: “After some expensive knocks in the mining exploration sector, the board decided to focus on its core asset [Quantum]; for the past three and a half years we’ve been focused on decreasing approximately US $1 million of our long-term debt and debentures [which will be cleared in October 2014]. Throughout this year, the Company has accumulated cash, and further expanded and invested in the South African business organically. Shareholders’ equity has subsequently increased dramatically. The Company is now in a very secure financial position and I am excited by the opportunities that are presenting themselves. I strongly believe that we have earned the respect in our niche market to take the business to the next level and seek strategic investments in related businesses – investments that are not so far removed from our own business that we expose the Company by lacking knowledge in the field of any investment. The Company is now is a position to fully focus on its long-term, sustainable growth.”
As at close of trading on September 15, 2014, the Company was trading at C$0.08, valuing the Company at only C $3.8million.