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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gvm Metals | LSE:GVM | London | Ordinary Share | AU000000GVM1 | ORD NPV |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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| 0.00 | 0.00% | 72.81 | 0.00 | 01:00:00 |
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| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
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| - | O | 0 | 72.81 | GBX |
Gvm Metals (GVM) Share Charts1 Year Gvm Metals Chart |
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1 Month Gvm Metals Chart |
Intraday Gvm Metals Chart |
| Date | Time | Title | Posts |
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| 03/12/2007 | 19:14 | GVM Metals | 199 |
| 20/1/2007 | 01:26 | Gvm Metals | 93 |
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Posted at 21/11/2007 12:40 by drewz Even though a lot of oil juniors have been knocked back badly in this latest bout of sub-prime market nerves, coal plays have stayed strong and even ticked higher. Bodes well for the next couple of years, since I expect coal prices to keep rising and the value of GVM and CHL's assets to keep rising. Add into the mix the fact that both companies over the next 3 years will move from just 'exciting potential' to strong cash flow and dividend payments and there is plenty to look forward to. |
Posted at 21/11/2007 09:51 by e-boffin Little MinxCertainly a good one to watch. I have a feeling that the 65p placing price could be the floor and share price will rise from here. However, I am waiting till the shares are issued and see which way things go. That wedge of cash certainly gives them a chance to really start this company moving. |
Posted at 06/11/2007 12:46 by drewz I don't know e-boffin. I have cross referenced this thread with my other junior coal play - CHL - to try and promote some involvement, but no-one seems interested in GVM for some reason. GVM is doing a brilliant job carving out a strategic role for itself in South Africa's coal industry. It has featured in the premium breakouts chart for some time now, but even that has not attracted new interest. Doesn't get much media coverage either despite its outstanding growth performance. At all events, as long as they keep building the company towards substantial production and cash flow in 2009, I don't think the lack of UK interest matters that much. They are well supported in Aus and Jhb. Having said that, the volume of shares being traded on AIM has picked up markedly in the last few days. Looks like institutional stake building. |
Posted at 26/9/2007 10:35 by drewz More good news. This lot don't let the grass grow under their feet. Must try and get a few more into my ISA somehow.ACQUISITION OF FURTHER COAL INTERESTS IN SOUTH AFRICA GVM Metals Limited ("GVM" or the "Company"), the Australian mineral processing and coal mining company with assets in South Africa, is pleased to announce that it has executed a Heads of Agreement to acquire 60% of the issued capital of Tshikunda Mining (Proprietary) Limited ("Tshikunda"), a company owned by Basani Investments (Proprietary) Limited (60%), and Ndilo Resources (Proprietary) Limited - which owns the Tshikunda Coal Project, a 32,000 Ha property situated between the Company's Baobab project and Exxaro's Tshikondeni coking coal mine. Completion of both transactions will take GVM's interest in the Tshikunda Coal Project to 60%. The consideration payable to acquire Tshikunda is ZAR20 million (approximately A$3.5 million), subject to the following suspensive conditions: 1. obtaining the necessary approvals in terms of section 11 of the Mineral and Petroleum Resources Development ("MPRD") Bill of South Africa; 2. obtaining the requisite approvals of the South African Reserve Bank as are applicable; 3. obtaining any required approvals from the ASX. Tshikunda Coal Project The Tshikunda Coal Project consists of granted prospecting rights over 32,583 hectares in the Soutpansberg / Pafuri coalfields located within the Limpopo Province in the north of South Africa. The area to be acquired adjoins the Tshikondeni coal mine held by Exxaro Limited. The total area of the Tshikunda Coal Project is 32,583 Ha, bringing GVM's total interests in the Soutpansberg coalfields to approximately 55,000 Ha. The Company holds a further 8,000 Ha as part of its Thuli coal project. GVM have committed up to ZAR50 million (approximately A$8.5 million) to explore the prospect to a 'bankable' stage. Thereafter, the parties will contribute development or capital expenditure on a pro rata basis. GVM Managing Director Simon Farrell said that the acquisition was an important development in the Company's goal of becoming a major player in the development of the Limpopo coalfields: "Whilst very limited work has been undertaken on the area in the past, it is now widely considered to be highly prospective as a significant source of hard coking coal. What is particularly exciting is that both Rio Tinto and ourselves believe the rank of coals improve eastwards of their Chapudi and our Baobab projects and given that the value of coking coal is now roughly double that of thermal coal, the dependence of a proximate power station to get the project up and running starts to disappear." ENDS |
Posted at 07/6/2007 11:44 by drewz Mirabaud Securities Limited (Mirabaud), GVM Metals Limited's (GVM) broker in the United Kingdom, has released an updated valuation of GVM. The 12 month valuation of GVM was raised to 103.4p from the Mirabaud 17 May 2007 value of 69.0p. The valuation was reviewed after GVM released a trading update, the most important element of which was the announcement of the potential doubling of the previously modelled Mooiplaats coal project near Ermelo. |
Posted at 14/5/2007 11:00 by gardenboy Hi drewz,yes, indeed. Mooiplats worth 33p per share alone according to Mirabaud, Mooiplats lies just 1.4km from a 800-1,000MW power station restarted at the end of last year by the state-owned utility Eskom, offering an immediate market for the mine's thermal-coal product The bulk of our valuation (33p per share) comes from the Mooiplats project near Ermelo in South Africa's Mpumalanga Province. The project includes the farms Mooiplats, Adrianople and Klipbank. Mooiplats has new-order mining right status, and the other two farms have new-order prospecting rights. Coal of Africa Ltd (CoAL) the operating company in which GVM is acquiring a 70% interest has outlined a mine plan of steady-state run-of-mine output of 1.14Mtpa of raw anthracite and 3.42Mtpa of bituminous coal for 13 years. This exploits a total of 59Mt, based on 121Mt of Samrec-compliant resources (Samrec is the South African equivalent of JORC). However, Mooiplats has a further 340Mt of non-Samrec resources, which CoAL is in the course of converting to code-compliant status via a drilling programme. This work is scheduled to be completed by the end of April. We have thus extended the project life by a further ten years. Even with this extended life, our mine plan exploits only 105Mt of coal in total. CoAL's project manager, whom we met on a recent site visit, is targeting first production in February 2008, resulting in calendar 2008 sales output of 2.5Mt and rising to 4Mt in 2009. We have used this latest schedule to adapt CoAL's mining plan into our model. Project cash operating costs for Mooiplats are based on a provisional contract with a mining contractor for an all-in mining cost to deliver the coal to the nearby Camden power station (via a 1.7km overland conveyor to be supplied by the contractor). This accounts for the low capital costs assumed for the mining operation, as the contractor would also provide the mining equipment. Mining will be by underground room-and-pillar, with ramp access from box-cuts. Camden was restarted at the end of last year as part of a wider initiative on the part of state-owned utility Eskom to solve South Africa's power shortage. The station is currently running three of six generator trains, and would require around 6.5Mtpa of total feed at full output (800-1,000MW) We have assumed the cash mine operating cost for delivery of the run-of-mine anthracite product to a contractor-operated washing plant, which would wash the anthracite fraction. Reject from the anthracite sales project would also be delivered to Camden. Washing costs are based on the washing contractor owning and operating the plant, thus the capital cost of the plant is just R15m required to pay a contractor to mobilise an existing unit to site. Total project capital expenditure to start-up, including mine development, is R141m (100% of project basis). Based on our own yield assumptions for the washing (anthracite feed) and screening (thermal-product feed) plants, we assume steady-state sales of around 700,000tpa of anthracite to the domestic market, realising an assumed price of R350/t (free-on-rail) in today's terms. This price was sourced from according to CoAL's project manager and confirmed by information from an independent consultant. We model thermal sales of around 3.4Mtpa. The assumed price for the thermal coal is R125/t, based on current sales of coal being trucked in to Camden (R120-140/t delivered, according to CoAL's project manager). The truck movements are causing local disquiet, putting further pressure on Eskom to source coal locally ie from Mooiplats and from another local property, which is capable of supplying 2.5Mtpa (this property was developed by BHP Billiton, and mothballed reportedly owing to a dispute with Eskom which holds the mineral rights). Other possible sales destinations for Mooiplats' thermal product include Eskom's Majuba power station, 80km away. The Mooiplats property is crossed by the main railway line from Ermelo to the Richard's Bay Coal Terminal (RBCT South Africa's main coal-export facility). A rail spur has already been established by the holder of an adjoining property (subject to negotiation, this 50Mt property could ultimately be mined by CoAL's operation for a royalty to the holder). Mooiplats transaction details The transaction to acquire 70% in CoAL totals £37m in cash and shares. This comprises £2m in cash and £1.7m in shares to acquire Kelso Mining Ltd, holder of an option over the 70% interest in CoAL. (We have assumed the shares will be issued at 30p each, as the deal stipulates a range of 20-30p and the shares are currently being traded at above the maximum level.) This first phase is expected prior to the end of GVM's current financial year (June 30, 2007). Exercise of the option will involve paying £17m in cash to CoAL's owners, expected early in GVM's 2007/2008 financial year, and a further £10m in cash 12 months later. Exercise will also trigger a further payment of £4m in GVM shares to Kelso's vendors (again we have assumed at the 30p upper limit of the range stipulated), plus an additional £2.2m in cash and shares to Kelso's vendors with respect to an asset in the Philippines held by Kelso. GVM intends to sell on this asset for the same terms. Thus, we assess the entire cost of the 70% CoAL acquisition at £34.7m (we net out the Philippines asset), against our modelled NPV of 70% of the asset of £77 |
Posted at 27/3/2007 20:26 by gardenboy extract from Minesite article on GCM,......The second development was to participate in a placing by GVM Metals that gave it an 18 per cent stake in the AIM and ASX listed South African coal company for a cost of £2.4million. GVM has completed the purchase of a small nickel magnesium alloys manufacturing and distribution business that is mature but is very cash generative at this stage of the commodity cycle. It provides what Simon Farrell, managing director of GVM, calls "walking around money" of about R30 -40million a year. But the real interest in GVM is its four undeveloped coal properties in South Africa: Mooiplats and Holfontein, Limpopo and Kelso Mining. Despite the best efforts of a disparate group of academics, diplomats, politicians and a variety of anti-business lobby groups known collectively as "environmentalists" economic progress is still best made by employing energy to raise living standards. And coal is one of the cheapest sources of energy. South Africa is now an economy growing rapidly after decades of stagnation and that is reflected in its rising energy consumption. Eskom, the energy parastatal, is now struggling to cope with demand growing at 6 per cent a year and is running plants at 90 per cent capacity instead of the designed 75 per cent utilisation rate. It has re-commissioned power stations that have been mothballed for years and has a programme to build one new power station every two years. That will add six million tonnes a year of demand to an annual coal burn that is currently 112 million tonnes and rising. GVM is a company supremely well placed to supply that additional demand after its rapid acquisition process. In the space of six months or so the team at GVM has put together an impressive package of coal properties, two of which could be in production by the middle of next year. Drilling now under way is expected to define a massive resource base of two billion tonnes of coal from these four properties. The exact nature and structure of the asset base that GVM has assembled deserves an article in its own right, and that will be coming shortly. |
Posted at 19/1/2007 23:51 by gardenboy Asia Energy Takes GVM Stake in Coal Tie-Up By Gareth Tredway 21 Dec 2006 JOHANNESBURG (I-Net Bridge) -- GVM Metals [LSE:GVM; ASX:GVM], which listed at the end of November on the JSE Securities Exchange, has sold about 15% in new shares for 2.4 million sterling (US$4.7 million) to AIM-listed Asia Energy [AIM:AEN] to further develop its coal interests in South Africa. GVM has greenfields coal exploration projects in the Limpopo region and on the Witbank coalfields. GVM, which was founded in 1980 has shifted its focus from being a gold, platinum and base metals explorer to becoming a coal mining and metals processing company, mostly focusing on South African mineral targets. Simon Farrell, GVM managing director, said in a company release, "We are delighted to work with Asia Energy bringing our diverse coal interests into production. Steve Bywater brings enormous experience in operating world class coal and iron ore mines and I look forward to his help in what is going to be a very exciting and challenging period of the company's growth" Asia Energy, a 42 million pound sterling ($82 million) market cap company, is involved in the development of the coal basin at Phulbari in northwest Bangladesh. After the recent issue of 12.2 million shares at 20 pence each, Asia Energy will be a 13% shareholder in GVM. Asia Energy's chief executive Steve Bywater and its CFO Graham Taggart have been invited to join the GVM board as non-executive directors. "This is an exciting opportunity for Asia Energy as it looks to expand its investments in coal on a global basis," said Bywater in a statement. In an interview following its listing, Simon Farrell, chief executive of GVM, told I-Net Bridge that the company could be a 10 million tonne producer in the next five years. "Our goal is to be producing five million tonnes out of the Witbank, so obviously we have to acquire another property to make that target," says Farrell. "[In the Limpopo] we are actually unconstrained in terms of resources. Its only infrastructure and market constraint, but I would hope in five years we would be producing five million tons." "This transaction provides a platform for the Company to be involved in new and developing coal projects with GVM, who have a strong management team. |
Posted at 19/1/2007 21:09 by gardenboy Investors slowly tune in to GVMAdriaan Kruger Wed, 17 Jan 2007 [miningmx.com] -- Sometimes a little fanfare would not hurt. A case in point is the quiet listing of GVM Metals on the JSE at the end of November, when investors and fund managers were maybe too busy to finish their work for the year in planning their holidays. The first trade in the shares were only on 27 December - two weeks after the listing in the metals sector of the JSE. In the first 29 days on the JSE, trades were recorded on only nine days. To date, slightly more than 100,000 shares have traded. Despite the subdued listing, GVM Metals has started to attract attention and the share reached a new high of R4.50 last week, compared to the first trades at R2.60. In thin trade, the share hiked up by another rand to R5.50 on 18 January. Previously known as Golden Valley Mines, GVM has been listed on the Australian Stock Exchange since 1980. It secured a secondary listing on the Alternative Investment Market (AIM) of the London Stock Exchange in 2005 also in the quiet weeks of December and now in the minerals sector of the JSE. Of interest is that the share trade at a premium in South Africa to it primary listing in Australia, as well as the London listing. Through a series of strategic acquisitions GVM Metals Limited has moved its focus from being a gold, platinum and base metals exploration company to becoming a coal mining and metals processing business, targeting predominantly South African mining and minerals processing assets. Currently the company earns most of its income from a 74% stake in a nickel magnesium alloy facility near Magaliesburg, west of Pretoria. It has just acquired a coal deposit near Kinross from black empowerment company Motjoli Resources in exchange for giving Motjoli a 32% stake in GVM. It also bought a coal deposit in the Limpopo area for the equivalent of R84m, paid for in the newly-listed shares which could help liquidity if the sellers of the coal fields decide to unload their shares. GVM aims to complete a feasibility study at the Kinross coal deposit early next year and will apply for new-order mining rights then. The potential mine has an inferred resource of 50m tonnes to produce 800,000 tonnes per annum (tpa) of thermal coal and 400,000tpa soft-coking metallurgical coal starting in 2008. The mine in Limpopo could be brought into production in 2009. It currently has an inferred resource of 325m tonnes, but it is expected to be as high as 500m tonnes. Initial capital to get the ball rolling was raised in Australia. GVM issued another 12.2m shares in a private placing to Asia Energy plc, an minerals investment company run by ex-Rio Tinto managers. This raised R34m for working capital to start with initial work to get the South African mines up and running. The secret is out, with enough risk to satisfy South African speculators in smaller mining shares. |
Posted at 26/4/2006 10:49 by magazine2 Gvm Metals Ltd Coal Deposit AcquiredRNS Number:0065C GVM Metals Ltd 26 April 2006 26 April 2006 GVM Acquires Coal Deposit in Limpopo Province GVM Metals Limited (ticker: "GVM"), the South African mineral processing and coal mining company, today announces that negotiations have now been completed to acquire a substantial open cut coal deposit in the Limpopo province of South Africa. The consideration for the acquisition of a 74% interest in the permits will be satisfied by the issue of 20,812,500 GVM Metals Ltd shares. Subsequent to the issue of these shares, the total number of shares on issue in GVM will be 52,123,387. The acquisition is subject to a number of conditions including the consent of the Minister of Mines to the transfer and Shareholder approval. The Prospecting Right acquired consists of the adjacent farms Semple, Over Vlatke, Bergen Op Zoom, and Voorspoed and cover an area of 8,662 Ha. The northern boundaries of the farms are formed by the Limpopo River and are 50 Kms east of Messina. The existence of coal on the farms has been known since the turn of the twentieth century, although no real exploration occurred in the region until Southern Sphere Mining and Development ( a division of Utah Mining ) undertook a detailed exploration program in the late 1970's and early 1980's. The project was taken to a relatively high level of confidence with the drilling of cored and percussion boreholes with geophysical wireline logging, surface magnetic and gravity surveys and the mining of a bulk sample "shaft". Unfortunately in the intervening years much of the original bore hole data has been lost. It is believed that if all this data was available, the current resource would be much closer to being classified as measured. The project lost favour with the dis-investment of Utah Mining from South Africa and the sale of Southern Sphere assets in the middle 1980's, and low coal prices. A Competent Persons Report has been prepared and is based largely on the Feasibility Study on Overlakte completed in 1983 by Southern Sphere. It has defined an inferred resource of 352 million tonnes with a life of mine strip ratio of less than 5:1 (5BCM waste to 1 tonne of coal). It should be noted that the coal seams extend into the adjoining farms and it is believed that the resource will be substantially increased in time. Detailed analysis of 50 boreholes and a 1535 tonne bulk sample suggest a soft coking product quality product with a yield of 23%, a calorific value of 30MJ/ kg, ash of 12%, fixed carbon of 51-52%, total sulphur of 1.01-1.04 % and a free swelling index of 3.0-7.0. The washing would also produce a middlings ( "steaming") product with a calorific value of 23MJ/kg and Sulphur of 1%. The project lies some 40/50 kms north of Rio Tinto's billion plus tonne Chapudi Coal Project. Rio have announced that they are in discussions with Eskom the South African power parastatal to supply coal to a new Limpopo located power station . The ability to sell the middlings/steaming coal to a proximate power station will substantially improve the economics of the project. The project is some 40 kms west of the main Zimbabwe to South Africa railway line which connects to Richards Bay and the Mozambique port of Maputo. Simon Farrell, Managing Director of GVM Metals said: "This is a very exciting development for GVM. Domestic demand for both coking and steaming coal has increased considerably and the export markets for coking coal remains strong. The Limpopo area is seen by many as the new coal province of South Africa and we intend to become a major part of that development. Work is progressing on our Holfontein coal project at Witbank and negotiations continue on expanding both our Limpopo and Witbank interests. The next stage of work at Limpopo is to conduct a drilling programme to further validate the original Utah Mining studies and to bring the current resources into the measured category." GVM Metals Limited Simon Farrell T: + 61 8 9322 6776 Beaumont Cornish Limited, Roland Cornish Nominated Adviser T: +44 (0) 207 628 3396 Conduit PR Leesa Peters / Abigail Singleton T: +44(0) 20 7429 6600/ 6606 M: 0781 215 9885 / 07739 461 061 Emails: leesa@conduitpr.com / abigail@conduitpr.co NOTES TO EDITORS: GVM Metals Limited is registered in Australia (ACN 008 905 388) and has been listed on the Australian Stock Exchange ("ASX") since 1980, with the ticker "GVM". Copies of the Company's Annual Report can be found on the Company's website : www.gvm.com.au SOUTH AFRICA: South Africa is the Company's principal area of expansion for mining and minerals processing assets as illustrated by the recent acquisitions of NiMag and the JV of the Holfontein project. Traditionally, South Africa has been a major producer and exporter of coal. The vast bulk of this coal has been sourced from the Witbank coalfields which are now in their mature phase. Recent developments in the demand for coal have concentrated expansion efforts towards the relatively underdeveloped northern coalfields, an area of great interest to GVM. Domestic demand for coking coal is also growing rapidly as a result of expanding steel production in the face of contracting local supply NIMAG : GVM has a 74% interest in NiMag which produces a range of metal alloys and fibres. The alloys are principally used in improving the technical characteristics of cast iron and also in exotic metals used in the aeronautical industry. The Company can increase this interest to 100% HOLFONTEIN : As a result of increasing power demands in Southern Africa and the switch in South Africa from being a coking coal exporter to importer, it was felt by the Company that it should examine local opportunities. In April 2005 GVM acquired a 49% interest in a small coal mining project called 'Holfontein'. The Holfontein Coal project is a mineable coal deposit consisting of two mineable coal seams, the No 5 seam, which is a coking coal, and the No 4 Seam, which is a low-grade steam coal. The recent scoping study confirms the value of the Holfontein property. FUTURE EXPANSION AND ACQUISITIONS: The Directors intend to grow the Company both organically and by acquisition especially in the coal mining sector. Largely through Chairman Richard Linnell's connections, several substantial coal properties have been identified and negotiations have commenced regarding GVM's participation. Richard Linnell, BSc. Hons (London), Chairman, is a geologist with over thirty years of experience. His early experience includes involvement in the establishment of the Delta Manganese Project (now Manganese Metal Company) and the Murray & Roberts Industrial Corporation. He was also marketing manager for the Stainless Steel division of Middelburg Steel & Alloys and general manager of the Manganese Division of Samancor, a joint venture between Billiton Plc and the Anglo American Corporation. Richard was accountable for all of Billiton's exploration and development activities in Africa and was an originator of the Bakubung Initiative, a forum designed to revive the South African mining industry which in turn led to the establishment of the New African Mining Fund. |
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