MIRA
INFORM REPORT
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Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
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Name : |
LUANSHYA COPPER MINES PLC |
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Registered Office : |
Plot |
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Country : |
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Date of Incorporation : |
10/5/2004 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Mining and
exporting finished copper and cobalt. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
LUANSHYA COPPER MINES PLC
Principal Address
Plot
Telephone: + 260-2513400/ 2548330/ 2544555
Fax: + 260-2512223/ 2548337
Email: None
Internet: None
Established
10/5/2004
Registration
No. 52849
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
400
Office &
Factories
Head offices
Branches None
Company Profile
Paid in Capital USD. 10,000,000
Subscribed Capital USD. 10,000,000
Shareholders
Name Position
Amount Ratio
Mr. Derek Webbstock CEO
Mr. A J Phiri Director
Mr. L Nkhata Director
J & W Investments Holdings Holding Co. 8,500,000 85.00%
ZCCM Investments Holdings Plc Shareholder 1,500,000 15.00%
Total 10,000,000 100.00%
Credit Opinion
Our proposed credit amount of USD 80,000 is recommendable
Affiliated Projects
Projects (1) MULIyashi Mine
Projects (2) Baluba mines
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Derek Webbstock |
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Work Experience |
20 years in this line of business |
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Remarks |
Top Decision Maker |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Mining and exporting
finished copper and cobalt.
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Solidbase Engineering, lockers engineers etc
Customers
Nakumatt, Uchumi, Local agencies ,Department stores, it also owns its own chain of stores and outlets
Recent Sales
USD. 220,000,000 (Estimated)
Exports
Europe and
Export Ratio 90.0%
Import Ratio 30.0%
Domestic Market Share 10.0%
Banking relationship
Main Banks Standard Chartered
Bank
Credit Check of
Subject, President & CEO (as of report date)
Payment Morale: In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING: Financial situation is
average.
COMMENTS
The Company was previous known as Roan Antelope Mining Corporation (Z) Plc, Maximum credit we recommend is USD 80,000 outstanding at any one time.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to
assess SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)