Arcon Int. Share Discussion Threads

[rambutan2] 06/3/2005 19:18

i may well be, but its got ain too cheap - unless the board can prove otherwise.

[hermana] 06/3/2005 19:11

Lundin is a quality share quoted in Stochholm and in Toronto. AT least it has
many prospects including drills with PVR in Nigeria and PCI in Donegal.

[rambutan2] 06/3/2005 19:02

how about something along the lines of...
has there been any interest from other parties apart from lundin and has the board sort any? and if not why not.
has the board sort to get a deal on better terms taking into consideration the recent upturn in the fortunes of the zinc price and its longer term favourable outlook.
at the least many shareholders will want an all-cash alternative due to probs of holding overseas shares in may uk accounts.

[hypocrite] 06/3/2005 18:47

Updated...

[hermana] 06/3/2005 18:28

Anything could happen but a bet against Sir Anthony would be brave.

[rambutan2] 06/3/2005 18:20

just what i was wondering figis...
figis - 6 Mar'05 - 09:22 - 1124 of 1133

To say that I am furious about this deal would be put it mildly. Hugh Hendry of Odey Asset Management said on C.N.B.C on Friday morning last that it would be crazy for Arcon to sell now particularly with the price of zinc on a strong upward trend...


now, if the likes of odey (holders of 36m shares or more) and the bulk of the other shareholders object strongly to the deal will lundin get to 80% acceptances, at least on current terms, and what about the possibility of a higher bid coming in from elsewhere?

[hermana] 06/3/2005 18:01

Its a done deal just as the sale of Eircom to Sir Anthonys consortium a few
years back.When a dominant shareholder wants out all other shareholders have
only the satisfaction of applauding or as in this regrettable case complaining!

[hypocrite] 06/3/2005 17:49

Later...modified version!!!

[hypocrite] 06/3/2005 17:28

Read that again........
"BUT, speaking to the Sunday Tribune recently, Arcon Chief Executive Peter Kidney
said the company has customers "knocking down the door" due to the shortage of
zinc on world markets and has already been approached by one Chinese client
seeking to buy it's entire annual output."



Last week The Sunday Tribune interview with Peter Kidney said the
China man wanted 100 thousand yes 100k tons at todays premium prices!!!!
Turning away orders suggested a bumper results publication in April,
now it looks like manipulation of the figures instead...to put a better
light on the deal!!!!
caveat Emptor!!!

[hypocrite] 06/3/2005 17:25

Picture of Arcon's Peter Kidney again today in The Sunday Tribune
which report.s as follows:
O'Reilly gives up the Zinc King feeling!

It must have been with some relief that Tony O'Reilly decided to accept an offer for Arcon Resources, the zinc and lead mining firm that has soaked up
so much cash in recent years.
A major refinancing last year saw O'Reilly stump up E12.5 million to pay
down Arcon's debt and put it back on a more sound footing, but his total
investment in the company has been more than E60 million.
The new owner, Canadian Lundin Mining is paying E94 million for Arcon in cash
and stock. O'Reilly held a 72% stake in Arcon and will receive E40 million
in cash and roughly E40 million worth of Lundin mining stock.
It is the end of a bleak period for Arcon investors as the weak price of zinc on global metal markets hit the company. Zinc prices have been at rock bottom
in recent years, and were among the last of the metal prices to improve this
year following rises in other commodity prices of metals such as copper and nickel.
BUT, speaking to the Sunday Tribune recently, Arcon Chief Executive Peter Kidney
said the company has customers "knocking down the door" due to the shortage of
zinc on world markets and has already been approached by one Chinese client
seeking to buy it's entire annual output.
The market price of zinc could also be set to rise higher as stockpiles are depleted, all heralding a real reversal of fortune for Arcon and other operations here including Boliden's tara mine.

PS: I wonder if that report marks the end of that particular reporter's career!!!

[hypocrite] 06/3/2005 16:42

Now mark you, the news media are to a man talking about a deal that is done......not a deal that is yet to be done and an offer that has yet to be
made.....
So will we see the bid next week, followed by a statement that the INDEPENDENT
committee, appointed by the Takeover Panel, and the INDEPENDENT financial
advisers, aproved by the company......saying that they have met, and approved
the offer......
Will they have met at all.......or have they already decided that "they have
met" and the INDEPENDENCE thing is just lip service...and an unecessary
inconvenience????
Caveat Bloody Emptor!!!!

[hermana] 06/3/2005 15:07

Agreed,Hypocrite this is a poor deal for shareholders.THe o reillys have been
seeking an exit strategy from Arcon for at least a year.Lundin is a quality
outfit involved in consortia separately with PVR in Nigeria and PCI in Donegal.
As with PVR and PCI it is important to have a diversified International portfolio. Arcon was in a weak position to negogiate from strength with only
one aging Irish mine in its ownership.

[hypocrite] 06/3/2005 14:46

Questions....
Concerning the Intent to Merger announced by Arcon last week......

[hypocrite] 06/3/2005 14:31

Notably the Sunday Independent said little.....what it did say in the risers and fallers of the week was that Arcon fell because it "had run ahead of itself" in the
lead up to the bid....
Where before they w ere in positive spin about Arcon, in the last week they haveswitched
to negative...or nothing at all.....as if there were no good reasons for the rise recently with all the best commentators turning towards the share.....How dare they!!!!
But RISE IT DID.....
It had to rise....it is hugely undervalued....running ahead of itself suggests
that the share price rise was undeserved.

Who would blame minority shareholders for thinking that the company is doing it's level best to paint the upcoming results in the worst light possible!!!!
This deal MUST NOT go ahead without full and frank disclosure of the company's
recent performance and it's future potential in the current climate for zinc
and lead!!!
Caveat Emptor!

[theberg] 05/3/2005 09:41

Adolph Lundin?

[hypocrite] 05/3/2005 07:47

I wonder how the local unions and workers must feel....
they went on strike last year?
Of course the rns said they would'nt be affected....
which some might have interpreted as being told that
it is none of their business!!!
Lundin is of course family dominated as well.......
So I suppose it is better tohave two families, running
the business than one?
And as for the Lundin share price....well it had risen
to it's all time high of $13.25 by Tuesday....
Well that's no surprise!!!
Caveat Emptor!!!

[hypocrite] 05/3/2005 07:41

Sharewatch News!
3rd

Arcon down as Lundin merger disappoints

Recent high-flier Arcon International eased back as traders expressed disappointment with Lundin's merger terms.

[hypocrite] 04/3/2005 18:34

And another....

I am looking at the Minews Story you copied me on 24 October 2004. Page 2
says
"If it achieves the 2005 target the shares are only selling on a p/e
around 5 times."
Then the shares were selling around 4 cent, but if the
earnings projections are revised to reflect to-day's marketplace the
p/e is still surely a snip, to Lundin.
I wonder what p/e Lundin earnings are
valued at?
Sunday Times and SBP will likely headline 'Shareholder discontent at Arcon
offer'.
I wonder does the O'Reilly commitment preclude a counter offer?
And will the panel have the guts to unearth any side deals.

[rambutan2] 04/3/2005 14:37

is there an arb opp?
i cant be bothered to work out what the deal is worth in pounds and pence at present.

[britishbear] 04/3/2005 11:28

Still holding although it looks bleak - I am wondering what happens to the new shares we get if I hold these shares in a nominee account. Canadian shares can still be traded I imagine.

I will sit it out although it is a shame to have the cash tied up for so long with no chance of a price increase so almost tempting to take a loss on these and bail.

[hypocrite] 04/3/2005 11:25

I'm all on my own here it seems....has everyone sold out?

[hypocrite] 04/3/2005 06:27

.....The company should appoint an INDEPENDENT panel....fully at arms length....and bring in an approved financial adviser from a recognised neutral quarter....and publish the best set of results for them and everyone to see....fully audited....with an Independent auditors stamp upon them.
Caveat Emptor!!!