|Central African Gold
||EPS - Basic
||Market Cap (m)
Real-Time news about Central A.G. (London Stock Exchange): 0 recent articles
|pauladrew: Just researching some gold stocks, and can't believe NRRP has been overlooked. From their website- project at Ubib:
"North River Resources owns 100% of the Ubib Copper/Gold Project which is located 15km south-west of Namibia's longest producing gold mine, the four million ounce Navachab Gold Mine. "
Looks an interesting company and share price at all time low.
|royalalbert: Well there's the large sell, taken up by the 4 large buys at .6 Easy money for the mm's. The large buys however do bode well for future share price increases.|
|rambutan2: well, hopefully that sets a bottom on what's been a fairly dismal investment so far. I should have known that big ambitions and little cash don't work. And that the trajectory of the share price over recent months was saying so.
Central African Gold Plc ("CAG" or "the Company")
Proposed placing of 60,000,000 new ordinary shares of 0.5p each at £0.26 per
share to raise approximately £15.6 million in gross proceeds (the "Placing")
Central African Gold Plc, the AIM quoted gold mining and exploration company, is pleased to announce that, subject to shareholder approval, the Company proposes to raise £15.6 million (before expenses) through the issue of 60,000,000 new ordinary shares ("Placing Shares") at a price of £0.26 per share. The funds raised, together with the additional flexibility provided by the recently secured extension to the Company's existing debt facility, will be utilised to fund the development of CAG's African production and exploration portfolio in Ghana, Mali, Zimbabwe and Botswana.
|tanazuk: What effect are the announcements made today after market closing time going to have on the share price? Any ideas..????
Came across an interesting link, and apologies if already posted!
|mikkydhu: There's a new "Greg's blog" on the website. Nothing really new: just positive bits about equipment arriving and preparations for mining. Continues to give the impression of energetic activity.
Very much looking forward to announcement of greatly increased Bibiani reserves and of the start of production there. Might conceivably do something for the share price?|
|rambutan2: mikky, a couple of months ago i met and chatted to greg hunter and thought him and his experienced team well worth following and that CAN looked cheap, especially considering that they were already producing and got all sorts of kit when they bought bibani.
anglo gold were unexpectedly foreced to sell their shares by the sa govt - it was not from choice - which has effected the share price subsequently.
also, the phil edmonds link hasn't helped. however, camec is now just a 6%shareholder with no influence beyond that.
the idea behind the geoset team also looked v interesting to me.
the annual report and website in general is well worth a look for those who haven't visited it yet.
the ambition is to have a much larger mkt cap within a few years and i think they've got a chance of achieving that.|
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|looneytune: What effect will this have on the share price?|
|looneytune: for anyone who hasnt read this article it make an intresting reading, please be aware that this stock has not yet done anyfin so IF and when good new comes you can be guaranteed this will get alot of press coverage like CFM and WNL have had and will continue to get obviously that is hoping phil can turn this one into another one of his big companies.
Few of the current generation of resources entrepreneurs can raise an investor's pulse like Phil Edmonds, the former England cricketer.
The power of the Phil Edmonds name has been starkly illustrated this year - and this week - by the rapid ascent of his flagship Central African Mining & Exploration Company (CAMEC).
The fledgling company, which has grand aspirations to grow into a mining giant like Xstrata, has seen its shares rocket from 12¾p at the start of the year to 90½p yesterday on the back of strong market trading.
More than 60m shares in the stock have changed hands this week alone.
That has given a market capitalisation of £887m to a company that has only recently moved into production and made pre-tax profit last year of just £2.5m.
CAMEC's market valuation places it in the same league as some of the Aim mining sector's most established names, such as Peter Hambro Mining and Bema Gold, both worth around £1bn.
CAMEC's main asset is International Metal Factors, a company that owns 75 per cent of a copper and cobalt refining and marketing joint venture in the Democratic Republic of Congo, a hot-spot for mining companies.
The deal, announced two months ago, bought CAMEC its first significant revenues - $9.3m in March and $7m in February.
On the exploration side, the company owns some coal projects in Mozambique and a 51 per cent stake in a fluorospar prospect in South Africa.
It also has interests in transport and agriculture projects and is looking at uranium and bauxite assets around Africa.
CAMEC says the breadth of its activities reflects Mr Edmonds' and business partner Andrew Groves' deal-making talents and their passion for Africa.
"They have a very good network of contacts across Africa - they are always having new projects bought to them," a spokesmansays.
But as analysts have yetto publish any in-depth research on CAMEC, it is hard to find an independent view of what the company's assets are worth.
This is not the first time that Mr Edmonds and Mr Groves have figured in such a share price run.
Slightly more than a year ago, they floated White Nile, an exploration company looking to develop a huge oil field in south Sudan.
The speed of the rise - the shares grew 12-fold in their first week of trading last February - gave a new name to what was going on in Aim resources shares: White Nile Fever.
White Nile is causing a stir again. This week, its shares advanced 33 per cent in just fours days.
That move forced the company to issue a statement yesterday saying it knew of no reason for the rise.
However, even this did little to cool the share price, which yesterday still ended 13p, or more than 10 per cent higher, at 140p.
At that level, White Nile is valued at £443m, in spite of the fact that the company has yet to start drilling and faces a claim on it assets from Total, the French oil company, which White Nile disputes.
But CAMEC and White Nile are far from the only companies caught up in the current resources bubble. This week saw a spectacular market debut for Rift Oil, an exploration company chaired and 20 per cent controlled by Ian Gowrie-Smith, the former boss of SkyePharma, the drug delivery company.
Floated at 5p, its shares closed at 11.87p yesterday, valuing the company, which raised £2.3m to develop oil assets in Papua New Guinea, at £40m.|
|richgit: Date: February 23, 2005
Capricorn Resources Celebrates Its Second Birthday, But Still Has No Assets.
Minews hates to rain on anyone's parade, so is suggesting very tactfully that the bulletin board cowboys, who have got so hyped up over White Nile, should take a quiet look at Capricorn Resources. This is another from the excellent stable of Mr Phil Edmonds which listed almost exactly two years ago. And it still has not an asset to its name.
When it listed in February 2003 the panting punters were told that it was pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa. A deal could be expected in the fairly near future was the gist of the release.
A year later in February 2004, after the share price had gone through some amazing gyrations, another release appeared. This kicked off with the sentence, "As a result of recent interest in the company and the subsequent rise in the share price, the board wishes to announce that it is pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa.(Haven't I heard that somewhere before? Ed).
Phil Edmonds then went on to say "Due to our growing reputation within the region, we are being introduced to a range of projects that we are in the process of evaluating. Our aim, as stated in the admission document, is to locate resource based opportunities and mining projects, with an emphasis on countries including Angola, the Congo, Mozambique and Zambia. As a result of our research, we have identified some exciting opportunities that we feel fulfil our investment criteria, which we hope to be able to announce on in the not too distant future."
The English is a bit mangled, but the erstwhile spin bowler hails from Zimbabwe. The intention is there for all to see, but another year has passed and another press release appeared on February 7th 2005. "The company notes the recent increase in its share price. The company is in discussions that may or may not lead to an acquisition that would constitute a substantial and a related party transaction, but not a reverse transaction under the AIM Rules. A further announcement will be made in due course."
Don't hold your breath, but note the reference to a related party transaction. Maybe this is meant to indicate a game of pass-the-parcel around the Edmonds stable which also includes Southern African Resources, Central African Mining and Central African Gold.
The announcement duly stimulated a rise in the share price to 7p where it ran into sellers and fell by over 20 per cent today. Were the sellers shorting the stock, or were they some of the founding shareholders who must now be well clear of any hold period? Perhaps we should be told.
Two years of doing nothing except having the odd placement when the share price came to life intermittently on the back of rumours must be an ideal life style for comp any directors. But even Bruce Rowan got bored with it last summer and resigned to get on with his other interests such as Tiger Resource Finance. He had provided funding for our Phil's earlier ventures and is now spitting blood as he was left out of White Nile when best friends took shares at 0.1p each.
Never mind Bruce. You could find they are the best shares you never had.|
Central African Gold share price data is direct from the London Stock Exchange