Share Name Share Symbol Market Type Share ISIN Share Description
Arcon Int. LSE:AIN London Ordinary Share IE00B01H3229 EUR0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 28.95p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining - - - - 0.00

Arcon Int. Share Discussion Threads

Showing 1376 to 1398 of 1400 messages
Chat Pages: 56  55  54  53  52  51  50  49  48  47  46  45  Older
DateSubjectAuthorDiscuss
03/2/2007
12:31
Lundin Mining share price has more than halved. Has anybody any idea what has happend. Tried to Google Lundin but just got a chart, don't know were else to look. James
stirkjames
06/5/2005
17:03
http://www.advfn.com/cmn/fbb/thread.php3?id=6897254 We are all over there now!!!
hypocrite
13/4/2005
08:20
I've taken the money in the market. Less than the current value of the offer but I dont know what the cost to trade in Stockholm would be so I will reinvest elsewhere. Anybody suggest any good zinc plays that haven't already gone up. (And I dont want to hear Lundin Mining :-) ) Robin
robinbell
12/4/2005
09:49
Lundin is up 1.5% in Stockholm
benchmark
12/4/2005
09:42
Well they have won. I think the rising price this morning is a bit of professional arbitrage because its easy money for them. Robin
robinbell
11/4/2005
16:11
Was 3pm today the initial closing date/time? Do they have enough to take this unconditional. I hope they dont but we shall soon see!
robinbell
07/4/2005
15:52
OReilly's irrevocable committment has now been announced 3 times!!!
hypocrite
07/4/2005
10:31
Phoenix Magazine Dublin Friday 8th April 2005 TONY BOYS' NEW PAL YOU'VE got to hand it to Tony Boy. Every now and then he pulls off a master stroke, and his sale of Arcon to the Swedish oil baron Adolph Lundin is one such stroke – what ever about for the other shareholders in Arcon. Those with short memories may have forgotten that only three years ago Arcon was on the rocks, bust, hopelessly insolvent. And what did Tony O'Reilly do? He made a virtue out of necessity. He got Ulster Bank to write off no less than €67 million owing to it by Arcon. Brilliant. This must have been a record of sorts. Now thanks to the jump in the price of zinc, Arcon is in the money. According to Moneybags (see page 30) it could make as much as €50 million this year. So Tony is getting out while the going's good. Or so it appears. In fact, he is getting his hands on some badly needed cash and, even more significantly, he is getting into bed with the colourful Adolph Lundin. shareholder in a little local company called Island Oil and Gas, which is not unknown to Tony Boy. Three years ago, Tony made a deal – well almost a deal – with Paul Griffiths, the principal in Island Oil and Gas. Island had a 12.5% stake in the Seven Heads gas field, and the idea was to back this into Tony's Providence Resources. But the deal collapsed at the last moment and Griffiths had to scramble up an alternative sale to the Norwegian DNO Group. As fate would have it, DNO was taken over in turn by Lundin Petroleum, which is now capitalised at over €1.0 billion and, in due course, Lundin also acquired a major stake in Island Oil and Gas. With O'Reilly's Providence now having up to five drillable targets offshore Ireland and Island itself having three prospects, a company like Lundin Petroleum is needed to step in with a rig to start a coherent drilling programme on both Island and Providence's prospects. Welcome aboard, Adolph Lundin. Adolph Lundin Tony O'Reilly
hypocrite
06/4/2005
08:09
Moneybags Friday 8th April 2005 Ireland's only source of independent company appraisals for the Irish Investor. Phoenix Magazine Dublin Ireland Arcon being bought for a steal IN SELLING out to the Swedish Lundin Mining Corp for €93m, Tony O'Reilly has picked an extraordinary time to exit. The Galmoy Mines made a small profit last year for the first time since it was brought into production eight years ago. But with the huge jump in the zinc price this year, Arcon is on line to make a profit of up to €50m in 2005, making the price Lundin is paying look ridiculous. Unfortunately, the shareholders have not been informed about current production levels in Galmoy or of the effect the current zinc price has on current profitability. With O'Reilly holding 65% of Arcon's equity and signing an irrevocable acceptance while the independent directors of Arcon and J&E Davy have recommended acceptance, the position of the independent shareholders is impossible, leaving them little or no option but to accept the bid. The only positive aspect of this is that almost 50% of the offer is in Lundin paper and, accordingly, the minority shareholders can participate but in a much diluted form. The very least O'Reilly should do is insist that Lundin shares – currently only quoted in Stockholm and Toronto – get a listing on the London AIM market, although the Lundin takeover document indicates that this is not being considered. TEN FOR ONE Lundin's offer for Arcon works out at 52 cent per share, made up of 28 cent in cash and 24 cent in Lundin paper. What is important to note, however, is that in July 2004 Arcon consolidated its shares on the basis of ten for one. This means all prices struck before last July had to be multiplied by a factor of ten to compare with this 52 cent takeover offer. The offer is as high as the shares have reached over the last four years and double the price of the huge rights issue in July 2002 floated at the equivalent of 25 cent per share. In total, O'Reilly has invested well over €100m in Arcon and it could be that, despite the huge recovery in the zinc price, with Waterford Wedgwood causing him so much anxiety he cannot resist the temptation to cash in his Arcon chips by selling out to Lundin now. For his 65% shareholding O'Reilly has got €32m cash plus the repayment of €13m loans he made to Arcon from his Cyprus companies, Fairfield and Indexia, to give him €45m cash. Even though this represents a cash loss of well over €50m O'Reilly will end up with a €30m shareholding in Lundin, making him the only other large Lundin shareholder (with 10%) apart from Adolph Lundin himself, who has a 13.5% shareholding. Although Lundin Mining was formed back in 1994, the company did very little other than part-fund an exploration project in Northern Sweden in partnership with Boliden to develop a small zinc and copper mine at Storliden in 1998, which was brought into production in 2002. Then, in June 2004, Lundin stepped up a league and raised $160m (Canadian) at $8 a share. This money (about €100m) was used to buy the Zinkgruvan zinc mine in southern Sweden for €20m cash from the international mining giant Rio Tinto Zinc (RTZ) in June 2004. Zinkgruvan Mine produced 62,000 tonnes of zinc last year, along with 31,000 tonnes of lead plus 2 million ounces of silver – almost as much as Galmoy, which produced a higher 69,000 tonnes of zinc last year and 15,000 tonnes of lead. What is odd, however, is the observation of the senior Arcon independent director, Paddy Hayes, that "the Galmoy Mine now has a commercial life of approximately five years". He gives no data or includes any geological report to back up this significant assertion. Arcon has previously advised that Galmoy had four million tonnes of proven and probable reserves, yielding 14% zinc, signifying a zinc content of 558,000 tonnes of pure zinc. Based on Hayes's statement, this must mean Galmoy is producing over 100,000 tonnes of pure zinc pa, which is a huge increase from the 69,000 tonnnes produced last year. The capacity of Galmoy's processing plant is 750,000 tonnes of ore pa. With a 14% zinc grading and Galmoy working as it is now at full capacity, this would produce 105,000 tonnes of zinc and fits Paddy Hayes's assertion. However, this means that last year's results were significantly unrepresentative and, accordingly, in the current year production will be hugely ahead of 2004 with 50% higher production and 30% higher zinc prices. As Arcon only produced 69,000 tonnes of zinc last year, at the current zinc price this alone will increase Arcon's bottom line by €17m. With the Galmoy plant working flat out the total profit could rise to possibly €50m. It is unclear why the independent directors – Kevin Ross, Bill Mulligan, Peter Kidney and Paddy Hayes – do not spell out some of these fundamental facts. Moreover, Lundin's own consultants actually calculated Galmoy's reserves at 5.5 million tonnes grading 14% zinc, signifying 778,000 tonnes of pure zinc metal, almost 50% higher than Galmoy's own estimates. This means there is a 50% increase in the number of years production left in the Galmoy mine – seven and a half years rather than five. Also excluded is Arcon's other known reserves, such as Harberton Bridge in Kildare, which has an estimated 3.7 million tonnes grading 10% zinc, and the Rapla Prospect adjoining Galmoy, which has an indicated 2.7 million tonnes grading 7% zinc. Hayes advises shareholders that "the Galmoy Mine now has a commercial life of approximately five years" and adds that "the proven Zinkgruvan Mine has a significantly longer remaining commercial life currently having an estimated eleven year reserve life", without giving any backup data or geological report. It is significant too that if Arcon were only to produce at Lundin's current production of 52,000 tonnes of zinc metal, Galmoy could actually produce for the next 12.5 years, and that is assuming Harberton Bridge, Rapla and the area from Galmoy down to Lisheen are all also ignored. The other producing mine Lundin has in Storliden in northern Sweden – where the company has just increased its 27% shareholding to 100% at a cost of €22m – is hardly worth talking about. According to Hayes this only has "an estimated remaining commercial life of approximately three years". ZINC PRICE When you consider that, on a pro forma basis, if Lundin had owned both of its present mines for the whole of last year it would have made a small profit of only €5m, there is little to justify its current €300m capitalisation. The jump in the zinc price this year will, however, seriously increase returns and particularly so with Arcon contributing. It could also be that Adolf Lundin, an impressive operator judging by the Zinkgruvan mine deal, has a much better chance of sorting out the European zinc smelter cartel, now that he is producing a hefty 200,000 tonnes of zinc pa. Although Arcon shareholders are getting a lousy deal from Lundin at least, they are getting 28 cent in cash per share, which is actually not much different to what the shares were trading at up to a couple of months ago. The 24 cent equivalent in Lundin paper could well be worth holding, especially if Adolf Lundin can pull off any more sweet deals. It will also be interesting to see how Tony O'Reilly rides his 10% stake in Lundin Mining and, in particular, whether he participates in any future fund raising the company undertakes.
hypocrite
05/4/2005
07:13
This merger is by no means a done deal!!!!
hypocrite
04/4/2005
20:15
Well......if they have gotten more than a couple of million shares by shaking the bushes...thats about the strength of it...... now we await the result of the postal vote....how many of us had the good sense to kick the deal into touch!!!!
hypocrite
04/4/2005
14:36
nearly half a page in the business section of the Irish Times..... basically another "I'm all right Jack!" approach.....
hypocrite
04/4/2005
11:23
The share price will hopefully fall....we dont want this price.... we did'nt want last weeks price......why should we want any price less than a FAIR price and that is not 52.2 cents which has already depreciated by 20%....... Anyone who sells now is a MUG....plain and simple!!! Caveat Emptor!!!
hypocrite
04/4/2005
08:54
Hypo - are you the famous "Dillon"? Is so, well done. All good press although with the share price falling I am not so sure it was a wise move.
britishbear
04/4/2005
07:54
Down 2.25p.....come on lads....you can do better......shake it baby shake.... Every cent fall in the Lundin price takes approx $1 million off the value of the deal!!!! Caveat Emptor!!!
hypocrite
04/4/2005
07:32
Good man David!!!! Caveat Emptor!!!
hypocrite
04/4/2005
07:30
Me Fein = Myself Alone!!!
hypocrite
04/4/2005
07:25
In any case, with Lundin's stock price falling from above 13 to nearer 11$can.......the value of the deal has fallen by 15% approx..... from near 93 million to nearer 79 million!!!! A serious fall in value....... Even the Lundin shareholders seem to be ambivalent to it..... maybe the news was in their price too!!!
hypocrite
03/4/2005
20:34
I understand the Sunday Business Post also published an unflattering report on the deal today!!! I also hear The Irish Times wont be very favourable tomorrow morning either!!! There is almost universal opposition to the deal it seems!!!!
hypocrite
03/4/2005
09:54
You need to get peskier Hypo - small shareholders unite (but lose anyway)
britishbear
31/3/2005
10:58
Price goes up 1.25 on 850 shares.......it'll probably fall again for 10000....
hypocrite
30/3/2005
14:11
Watch for a Lundin sell off when their shareholders realise this is'nt going through......down to $11 can on the bid at open today!!! caveat Emptor!!!
hypocrite
30/3/2005
12:47
Panic...run for the doors.....mm's trying to fool you....they dont want your shares............. down to 28.75p .....41.75 cents at .689....on the bid now!!!! !!!! Caveat Emptor!!!
hypocrite
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