Central African Mining Share Discussion Threads

[romantic rambo] 18/9/2009 13:52

how does a spreadbet work on the T/O
if you wait for it to go through will you get the full 20p
on dec expiry so would it be signed sealed and delivered by then

[strangeglow] 18/9/2009 13:43

dealy

this concurs with suspiocions I had a while ago,that they had too many baskets and not enough eggs.

I think cash has been key here.

[dealy] 18/9/2009 13:41

One thing that is very fishy is that we have no idea how well the company is doing. We've had no financial news since Christmas. Definitely a sweet heart deal here for management. Still, this is one of my biggest earners on the markets.

[armsteel] 18/9/2009 13:29

is there a difference between shares with voting rights

[sdt7618] 18/9/2009 13:24

armsteel how could anyone raise a counter bid when the current bidder owns more than half of the company?

[josels] 18/9/2009 13:23

The chinese could always prepare to pay more money for the rest of the shares after all it is reported that they rather prefer to own minority stakes in the companies they invest in. I hold my shares tied just in case it closes above 20 today.... not in a hurry for some few more days, if the directors sell I may do the same...

[armsteel] 18/9/2009 13:18

can anyone tell me if it is possible or not possible for a counter bid to come in now that enrc hold 55% shares, seems silly to sell now if 20p is definate, when there is a chance another bid may come in has Mr G sold his 35% stake

[davius] 18/9/2009 13:17

Couple of points regarding timescales from the ENRC RNS...

"The Offer Document will be sent to CAMEC Shareholders as soon as practicable and in any event on or before 5 October 2009, or such later time for dispatch as may be agreed with the Panel."


"Bidco has agreed to pay the consideration due to the shareholders within seven days of the date referred to in Rule 31.8 of the Code instead of 14 days and to confirm the same in the Offer Document."

Which means the cash will turn up earlier than usual.

So within a fortnight we should know how long the offer is in place and what date we'll get the cash.

[ldmachin] 18/9/2009 13:15

Well, when i bought in at 2.8p i was expecting a bigger return... but i was also expecting to wait longer than 9 months... swings and round-abouts... i still think that in 5 years time we will look back at this and see we were robbed blind...

... oh well, glad i spreadbetted it long at 7p too.

[dealy] 18/9/2009 13:14

nothing crazy about the current order book. The crazy bit was that you could buy shares at 18.25p this morning and when we all here trigged that major holders were getting 20p.

Best thing to do now if you have low commission rates is to sell. No point in waiting for an extra 0.5p.

[fountains] 18/9/2009 13:13

well that's me closed. Bye.

[max101] 18/9/2009 13:12

something going on. why can't there b a counter bid ??

[sdt7618] 18/9/2009 13:06

who would want to bid agains the major holder? unless they wanted to make a quick buck!

[stevi111] 18/9/2009 13:06

22m on 19.5 bid !

50m bid in total !

Crazy !

[armsteel] 18/9/2009 13:04

why has level 2 gone crazy with 19m on buy side at 19.5p can another bid come in or not, no that enrc has 55% stake

[darklord2] 18/9/2009 13:04

Well Mr Edmonds has made millions out of this

[davius] 18/9/2009 13:02

ENRC have bagged a bargain, maybe put some of the CFM cash in there...

[darklord2] 18/9/2009 13:02

Through DMA mutley

[paji] 18/9/2009 13:01

Davius, thanks for the very precise clarification

[sdt7618] 18/9/2009 13:00

so basically would be best to roll any T trades, any idea how long this normally takes?

[armsteel] 18/9/2009 13:00

if enrc have 55 % then there cant be a counter bid can there

[davius] 18/9/2009 12:58

The L2 order book has gone crazy, bid volume 38.2m (!) and rising, offer volume 18.9m.

[max101] 18/9/2009 12:58

counter bid ????

[mutleymagic] 18/9/2009 12:55

Darklord.. - you mean your selling at 19.75 through DMA?? or you've just bought some !! - cheers MM

[dealy] 18/9/2009 12:54

If you wait about 2 months you'll get 20p in cash and you won't have to pay commission. Some people want the cash now and are happy to let somebody else earn 2% for the privilege.