|Looking at the Merger document
Number of Cambior shares, post-merger
Current Ariane shareholders... 15,159,670 .. 6.67%
Current Cambior shareholders. 212,176,588 . 93.33%
Merger Vote due: Nov.26, 2003 (Montreal, 11:00am)|
|Cambior / t.CBJ: Canadian Quote .................... : US$ Quote|
|DENVER (Dow Jones)--Cambior Inc. (CBJ.T) has seen its stock rise 432% between
the end of 2001 and Sept. 12 of this year, but it's still got upside potential,
said Chief Executive Louis Gignac Tuesday.
The stock's large percentage rise has been due in part to the fact that "it
was so low to start with," Gignac told Dow Jones Newswires after his
presentation at the Denver Gold Forum 2003 in Denver, sponsored by the Denver
Gold Group. But the rise also has been due to the Quebec-based company paying
down debt, decreasing its hedge position, increasing its cash position, and
getting closer to production on its Rosebel project in Suriname in South
The reason for the upside for Cambior shares, he said, is an expectation that
gold prices will head higher and that Cambior will increase its reserves
through more favorable exploratory results at Rosebel, at its Westwood project
in Quebec, and in Peru.
Gignac reiterated that the company still expects to meet its forecast on
production for 2003, which is 522,000 ounces. However, he said, cash costs per
ounce of production for 2003 will be higher than the $235 initially expected.
That's because of higher-than-expected fuel costs and a stronger-than-expected
Canadian dollar, which means the company's Canadian operations have become more
expensive in terms of the U.S. dollars received for its gold.
The Rosebel project is "on schedule, maybe a little ahead of schedule," said
Gignac, with commercial production there expected to start in the first quarter
of 2004. That will boost the company's earnings and cash flow, he said.|
I have alot of shares here,
so this will at least bring some liquidity.
I do hope someone else jumps in and bids.
I think this price is too cheap!|
|Good luck with that one E. The market needs some more mergers to get it really cooking.|
|HOW ABOUT THAT, Folks!
I have been comparing AGD with CBJ for a long time.
They seemed the most likely buyers./
Let's hope someone else jumps into the fray!
Ariane Gold shareholders will receive one Cambior share for each 2.91 Ariane shares. The exchange ratio implies a price of $1.32 for each Ariane Gold share, based on the closing price of the companies' shares on the Toronto Stock Exchange on Sept. 25, 2003
$3.53 /2.91= C$1.213|
|Cambior, Ariane Gold agree to merge
2003-09-26 09:16 ET - News Release ... Mr. Robert LaValliere reports
CAMBIOR INC. AND ARIANE GOLD CORP. TO MERGE TO DEVELOP THE CAMP CAIMAN GOLD PROJECT
The respective boards of directors of Cambior and Ariane Gold have unanimously approved a proposed combination of the two companies. The merger will bring Cambior's development and operating expertise to Ariane's Camp Caiman gold project, located in French Guiana, South America.
Under the agreement, Ariane Gold shareholders will receive one Cambior share for each 2.91 Ariane shares. The exchange ratio implies a price of $1.32 for each Ariane Gold share, based on the closing price of the companies' shares on the Toronto Stock Exchange on Sept. 25, 2003. Upon the successful completion of the transaction, Cambior will issue approximately 16.3 million common shares to the Ariane Gold shareholders. The agreement provides for a break-up fee of $2.2-million in the event that Ariane Gold terminates the transaction to accept a competing offer.
The merger transaction is subject to the satisfactory negotiation and conclusion of a formal merger agreement which shall include customary provisions and shall provide that:
(a) regulatory approval including consent from the relevant authorities of France, shall have been obtained prior to closing; and
(b) Cambior shall have completed its due diligence review prior to closing.
Subject to the approval of two thirds of Ariane Gold shareholders, this merger transaction is scheduled to close during the fourth quarter of 2003.|
Canaccord as aggressive Buyer up to $1.00,
and then suddenly turning seller for smaller volume.
Are they trying to keep the price down?
Recent Trades - Last 10
Time Ex Price Change Volume Buyer Seller Markers
10:45:18 T 0.98 -0.00 2,000 27 Dundee 33 Canaccord K
10:45:09 T 0.98 -0.00 3,000 27 Dundee 33 Canaccord K
10:44:39 T 1.00 +0.02 500 33 Canaccord 27 Dundee K
10:44:26 T 1.00 +0.02 222 27 Dundee 19 Desjardins E
10:44:26 T 1.00 +0.02 9,500 33 Canaccord 73 Sprott K
10:44:26 T 1.00 +0.02 25,000 33 Canaccord 80 National Bank K
10:44:26 T 1.00 +0.02 15,000 33 Canaccord 9 BMO Nesbitt K
10:40:22 T 1.00 +0.02 25,000 33 Canaccord 73 Sprott K
10:40:22 T 1.00 +0.02 5,000 33 Canaccord 27 Dundee K
10:39:48 T 1.00 +0.02 5,000 1 Anonymous 9 BMO Nesbitt K|
|Traded at $1.09 yesterday (new high!) and backed off.
Lets see if it can hold $1.00 for another push up|
Ariane trading North of $1.00! : $1.03 +0.08
11.0 1.01 · 1.05 26.5 1.03 +0.08 8.4 100.6 102
Time Ex Price Change Volume Buyer Seller Markers
13:24:35 T 1.03 +0.08 44,000 33 Canaccord 33 Canaccord K
13:23:50 T 1.03 +0.08 6,000 62 Haywood 33 Canaccord K
13:21:26 T 1.01 +0.06 10,000 27 Dundee 27 Dundee K
13:11:24 T 1.00 +0.05 43 27 Dundee 33 Canaccord E
12:47:43 T 1.00 +0.05 5,000 80 National Bank 27 Dundee K
12:47:15 T 1.00 +0.05 100 27 Dundee 27 Dundee E
12:47:15 T 1.00 +0.05 100 27 Dundee 19 Desjardins E
12:47:15 T 1.00 +0.05 5,000 80 National Bank 80 National Bank K
12:47:15 T 1.00 +0.05 5,000 80 National Bank 27 Dundee K
12:47:15 T 1.00 +0.05 2,000 80 National Bank 131 Penson Financial K|
RESULTS OF LATEST EXPLORATION PROGRAM ON CAMP CAIMAN / Peripheral Zones
Ariane Gold has provided the latest results from an additional drilling program completed in June and July, 2003, on its Camp Caiman project located in northeast French Guiana. This program was concentrating on some peripheral zones from the known deposits, namely the Fourca sector, north of the CC-88 zone, and the CC-093 sector, northwest of the Scout zone. Some drilling was also completed to investigate extension of known lenses from the Scout and CC-88 zones, as well as the less understood CC-08 zone in between. Finally, a new sector located south of the Scout zone, known as Quatre Buses, was also investigated. It is located in a lithological unit (Orapu) not previously recognized to host significant gold mineralization.
One diamond drill and one reverse circulation (RC) drill worked in June and July to complete 29 diamond drill holes totalling 2,564 metres and 34 RC holes totalling 1,596 metres. The objective was to investigate the mineralized potential of some peripheral zones outside and on the extensions of the known deposits. A total of 3,441 samples were sent to Filab in Cayenne. All results are now available.
The following table presents the most significant results obtained. All lengths are reported as core lengths, as the true thickness of new lenses is uncertain at this time.
Hole From To Length Au
No. m m m g/t Zone
CC-375 59.0 62.0 3.0 3.97 Scout
69.0 73.0 4.0 3.49
CC-377 75.1 78.0 2.9 5.14 Scout
CC-383 28.0 45.0 17.0 5.03 Scout (good hole!)
59.0 63.0 4.0 3.58
CC-387 1.0 22.0 21.0 1.05 CC-08
CC-396 57.0 81.0 24.0 2.92 Scout
SS-539 38.1 44.2 6.1 3.62 Scout
SS-543 1.5 15.2 13.7 3.95 Scout
SS-546 36.6 50.3 13.7 5.07 Scout (good hole!)
SS-549 10.7 45.7 35.1 4.01 Scout
SS-551 42.7 56.4 13.7 1.68 Scout
SS-559 1.5 16.8 15.2 2.59 CC-88
SS-575 18.3 29.0 10.7 2.99 CC-88
SS-583 30.5 65.5 35.1 2.46 Scout
SS-584 61.0 64.0 3.0 7.44 Scout (great hole!)
Drilling in the CC-093 zone located northwest of the Scout zone intersected important geologic markers without returning any significant result.
A few holes located about 150 metres west of the Scout zone also failed to intercept significant mineralization, but holes located immediately west of the Scout zone intercepted significant mineralization, suggesting an extension of the zone south of the original projection. Some holes drilled immediately north of the Scout zone also intersected significant new mineralized lenses, suggesting the presence of new parallel mineralization within and north of the Scout zone mineralized corridor.
Holes drilled in the Quatre Buses sector to the south intersected mineralization in the Orapu, a geologic unit not previously recognized for significant mineralization. Additional work is required to estimate full potential of this area. The Orapu is located within the regional geochemical anomaly.
Holes drilled in the CC-08 zone located between the extensive CC-88 and the Scout zones encountered mineralization, including 21 metres grading 1.1 grams per tonne (g/t) Au in hole CC-387, bringing additional geologic knowledge to this underexplored area.
Northeast and east of the CC-88 zone, drilling failed to intersect significant mineralization in this highly folded and possibly faulted sector. Nevertheless, numerous new lenses peripheral of the CC-88 zone have been intersected, suggesting parallel lenses to the north, and leaving the zone wide open. Additional work is required to understand the projection of mineralization in this sector.|
|GOLD is rising in relation to ALL CURRENCIES.
Today's breakout on Gold stocks showed GOOD VOLUME, esp. AGD|
Can you see the price of gold per ounce breaking $400. ?
Do you think there is a large scale move from equitys and bonds too gold.?
|$12 Million in Cash ... at mid-year
Ariane Gold Corp. Announces its Second Quarter 2003 Financial Results
MONTREAL, QUEBEC, Aug 25, 2003 (CCNMatthews via COMTEX) --
Comments on Financial Results
For the second quarter ended June 30, 2003, Ariane Gold Corp. (the 'Company'or 'Ariane') showed net earnings of $495,900 or $0.01 per common share compared to a loss of $326,500 or $0.19 per share in the corresponding quarter of 2002. As of June 30, 2003, the Company has 44,032,611 common shares outstanding as compared to 1,950,548 at the end of the second quarter of 2002.
For the year-to-date, the Company earned $1,265,200 or $0.03 per share compared to a loss of $346,100 for the same period in 2002.
For the second quarter of 2003, interest income amounted to $100,900 compared to $27,500 in 2002 given the average cash equivalent available to the Company in 2003. Interest income amounted to $206,400 for the year to date compared to $27,500 for the same period in 2002. There were no services activities in French Guiana in 2003 and none are expected to occur in the future.
For the second quarter of 2003, the Company incurred administrative expenses of $707,700 compared to $79,700 in 2002, while business development expenses for the identification of new projects and sources of financing amounted to $96,600 in the same period in 2003 compared to $322,600 in the previous year. For the year to date, administrative expenses amounted to $1,043,500 compared to $110,100 the year before, and business development expenses to 241,900 compared to $322,600 for the previous year, reflecting the new focus of the Company. Prior to March 31, 2002, the Company's activities were limited to local management of projects in French Guiana.
Interest amounted to $120,000 for the quarter and $249,600 for the year to date in 2003 and included respectively $95,000 and $224,600 as interest on balance of purchase price for Asarco French Guyana reflecting the amortization of the discount on its present value for those periods.
Given the current volatility of the Canadian dollar, the Company shows a gain of $1,321,700 during the quarter and $2,598,700 for the year to date, mainly due to the fact that fixed assets and exploration projects are denominated in euros and the balance of purchase price in US dollars.
Earnings for the quarter and the year to date occurred in French Guiana where the Company's wholly owned affiliate benefits from an income tax exemption plan for a term of 10 years. The Company should be tax exempted until 2006 provided it meets the commitments made to the French Tax Administration.
Consolidated Cash Flows
After making adjustments primarily in respect of non-cash interest expenses and gain on foreign exchange, cash used in operations totalled $850,100 in the second quarter of 2003 compared to $196,900 used in 2002, and $1,307,800 for the year to date compared to $215,900 for the same period in 2002. After changes in working capital items, cash flows used in operating activities amounted to $1,090,700 in the second quarter of 2003 compared to a source of $497,400 in 2002. For the year to date, cash flows used in operating activities amounted to $1,357,300 compared to a source of $595,700 in 2002.
In the second quarter of 2003, property and exploration projects required cash investments of $1,686,600, compared to $289,800 for the same period in 2002. For the year to date, this activity required $4,042,300 compared to $404,000 in 2002.
Exploration activities in 2003 occurred mainly on the Camp Caiman project and consisted mostly in drilling activities.
Cash held in escrow as of June 30, 2002 amounted to $22,049,400, which escrow was lifted on August 19, 2002.
At June 30, 2003, the Company's assets stood at $44,690,500 compared to $46,089,500 on December 31, 2002, including $11,992,400 in cash and cash equivalents and $32,041,200 for exploration projects, compared to $17,322,000 and $28,203,900 respectively at the end of 2002.
At June 30, 2003, current liabilities stood at $4,982,100 compared to $5,724,600 at the end of 2002. The long term portion of the balance of purchase price in relation with the acquisition of Camp Caiman in 2002 and Changement in previous years amounted to $13,085,500 compared to $15,007,100 at the end of 2002. The short-term portion, amounting to $4,049,500 compared to $4,650,400 at the end of 2002, is included in the current liabilities.
On August 21, 2003, Ariane Gold Corp. announced that it has received a positive Preliminary Assessment for its Camp Caiman Gold Project, located in French Guiana. The independent assessment was conducted by CSMA Consultants of Cornwall, UK in collaboration with Bateman Minerals of Perth, Australia, and covered all aspects of the geology, mining and processing of a 1.4 million tonne per year gold operation. The August 21 press release and the Preliminary Assessment are available on the Sedar website (www.sedar.com) and on the Company's website at (www.arianegold.com).
The Preliminary Assessment also highlights a number of potential improvements to the project that could accrue. Ariane believes that the study represents a base case for Camp Caiman at this price of gold, and that substantial improvements and cost savings could be realized during further studies.
|RECORD VOLUME today
Great volume day:
1.00(830)/ 1.01(20) 1,411,700
after a good earnings announcement
That big bid may mean NO LOOKING back from here|
|CANACCORD MAINTAINS C$1.50 TARGET
ARIANE GOLD (AGD : TSX : C$0.95) - BUY - 12-MONTH TARGET PRICE: C$1.50
Comment: Ariane Gold provides Camp Caiman update
Ariane Gold has received a positive Preliminary Assessment for its
100%-owned Camp Caiman project in French Guyana. The independent study,
which was conducted by CSMA Consultants of Cornwall, UK in collaboration
with Bateman Minerals of Perth, Australia, looked at all aspects of the
project including: geology, mining and processing. The study also
identified several areas that could potentially be improved to enhance the
project economics. Ariane believes that this study represents a base case
for the Camp Caiman deposit, and the company now plans to move towards full
feasibility. Based on the Preliminary Assessment report, we can generate a
project NPV which is in line with our C$1.50 target price. As such we are
maintaining our BUY recommendation on the stock.|
|SUBJECT: Volume worth $850,000+ today Posted By: ukboard
Post Time: 8/20/03 17:48
« Previous Message Next Message »
Vol. Bid - Offer Vol Close Chg.. %chg $Vol. ShVol
23.7 0.95 · 0.99 5.8 $0.99 -0.02 -2.0 868.7 852
Last Ten Trades
Time Ex Price Change Volume Buyer Seller Markers
15:59:53 T 0.99 -0.02 3,000 80 National Bank 2 RBC K
15:22:36 T 0.99 -0.02 1,200 62 Haywood 2 RBC K
15:22:36 T 0.99 -0.02 3,000 62 Haywood 33 Canaccord K
15:22:36 T 0.99 -0.02 5,800 62 Haywood 80 National Bank K
14:52:06 T 0.96 -0.05 43 27 Dundee 7 TD Sec E
14:52:06 T 0.96 -0.05 100 80 National Bank 7 TD Sec K
14:12:17 T 0.95 -0.06 5,000 62 Haywood 62 Haywood K
14:12:17 T 0.95 -0.06 3,000 7 TD Sec 62 Haywood K
14:12:17 T 0.96 -0.05 2,000 80 National Bank 62 Haywood K
13:56:08 T 0.96 -0.02 20 27 Dundee 2 RBC E|
|Looks like most of it was a same broker cross
...so maybe not so meaningful
10:21:08 T 0.80 -0.05 826,000 59 PI 59 PI K|
|SUBJECT: 0.82 -0.03 : 850,100 : Serious VOLUME! Posted By: ukboard
Post Time: 8/14/03 12:28
That's serious volume.
And SO CLOSE to the top of the trading range.
Someone is dumping a big block, but that buying UP HERE
is very impressive IMO. I think it will breakout.
Maybe this week?
0.82 -0.03 0.82(130)/ 0.85(60) 850,100
It is still mid-day, and it will be interesting to see
where the close comes in|
|Quick Quote: 0.85 (+ 0.10) T.AGD
sellers dwindling. All time high is $0.88|
|Pushing higher today. Glad to see your post on StockHouse,e. I do have a small holding. Cheers, M.|