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Can Sable Mining maintain its share price surge?

By Robert Tyerman | Thursday 24 September 2015

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Sable Mining Africa (SBLM), the AIM-quoted company founded by veteran Zambian-born cricketer and entrepreneur Phil Edmonds, has for long suffered in investors’ appraisal because of its heavy involvement with iron ore, which now trades in the $50 a tonne region, a third of boom-time peaks. But its shares enjoyed a spike the other day on a memorandum of understanding (MOU) signed with CITIC Group, the People’s Republic of China’s overseas investment corporation, to establish a 600-megawatt central African power station at the company’s Lubu coal project in Zimbabwe.

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