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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Centurion Res | CEN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.645 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.645 |
| Top Posts |
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Posted at 14/11/2013 12:30 by fludde From my point of view this company has always been a way of taking investors money, losing a chunk of it and giving the rest to the directors. SWC fail, CHC, fail, CEN I can hazard a guess...... |
Posted at 12/11/2013 21:07 by mistermagoo3 Centurion Resources: Clayton looks to Austria for his next big projectBy Ian Lyall November 12 2012, 3:01pm Austria provides the backdrop for Clayton's latest project.Austria provides the backdrop for Clayton's latest project. As a director of Extract Resources Alastair Clayton helped shepherd to a successful conclusion the $3 billion sale of the Husub Uranium project to the Chinese. For those who backed Extract, and the company's major shareholder Kalahari Resources, it was a hugely lucrative deal. Investors will be hoping Clayton can emulate this feat of value creation with Centurion Resources (LON:CEN), an Austria-focused copper exploration play that made its debut on AIM this morning. With a market cap of around £2 million, there's a lot of work to be done. But as the company's chief executive describes the opportunity there should be plenty of excitement and upside from this very modest start. He has behind him a very experienced board, including Peter Landau of Range Resources and Black Mountain, and Greg Kuenzel, of Noricum Gold, who are non-execs. In fact it was Kuenzel who helped negotiate the deal to acquire an 80 per cent share in the Mitterberg licences, near Salzburg. The 33 square kilometre project was the site of an historic copper mine dating back to the 19th century that finally closed in 1977 when the price of the base metal was on its backside. In that time around 120,000 tonnes of copper are estimated to have been extracted as the underground mine tracked east to west along a gently dipping vein of high grade ore. Mitterberg has a number of major advantages over green field exploration sites. The first is that infrastructure such as tunnels and shafts are already in place, which allows the group access directly to the ore body. In all there are 40 kilometres of underground workings that track the vein for 11 kilometres. Also, the Austrians were assiduous in compiling data from the mine, which means Centurion knows to a large extent just what it is acquiring and exploring. It has a target of 11-11.7 million tonnes with a grade of 1-1.15 per cent copper. Having raised £1 million via the IPO, the plan is to drill the western extension to firm up what actually lies beneath the surface. Planning for the drilling programme will take place in the run up to the festive period, with work getting underway in the early part of next year (though probably not in January). For a veteran of the African mining scene, hidden gems such as Mitterberg are something of a revelation to Clayton. "We did Kalahari and Extract, which were pretty successful for our shareholders," says the Centurion chief. "We were looking for something new to do. I was personally intrigued by the projects, which dovetailed with my interest in what's going on in mining in Europe, particularly central Europe and the Balkan region. "There are some really quality assets that I hadn't realised existed having been very African-focused for seven years. "And I spoke to some of the bigger metals trading houses who told us they had a lot of spare smelting capacity in Europe. "They wanted to diversify a small proportion of their overall capacity out of Africa and South America. This spurred my interest. "Centurion is a modest first step in terms of size of raising and the size of the company. It is reflective of where we are in a reasonably difficult market." The plan is to add to the portfolio, though he is shy about giving away too many more details. It is unclear just how the first 1,400 metres of drilling will change the perception of Mitterberg, though it is clear Clayton wants to compile a resource of some description very early on. "I will have to wait until we have received independent advice. But we would like to design a first class programme that would give us some global JORC resource that is an inferred JORC resource," he adds. "Whether we can do that with the first drill programme across the whole deposit, or whether we zero in on a specific area to quantify a smaller part is still open to discussion. "These are the decisions we will be making going up to Christmas." "There is no geological reason why the deposit doesn't continue [to the west], but we have to prove this. "We have a modest budget. But because of the historical record and the nature of the mineralisation we can cost effectively get to a position we can get to a position we can grow the inherent value of the project." Austria is deemed a mining friendly address, which plays host to one of the world's largest tungsten deposits as well as being a producer of talc and graphite. Ultimately the Centurion mine will be developed largely underground, with rock crushed, concentrated and shipped for smelting elsewhere. But this, Clayton emphasises, is a long way in the future. In the meantime the value will be added via the drill bit. And he has some wry observations about the prevailing wisdom in the industry, which calls for early production. "Everyone wants a mine, but nobody wants to pay for it," he says, referring to the inability of many companies to raise even a modest amount of debt for capital projects. "I'm an exploration geologist and like nothing more than adding value by defining resources. "Unless one has connections where you can start with £100 million you have to start from a small base and work your way up. And our shareholders will follow us as we grow the company." Deal CEN at Proactiveinvestors preferred broker Losses can exceed your initial deposit Register here to be notified of future Centurion Resources articles. RSS Meet Genel Energy, IGas Energy Plc, San Leon Energy and Europa Oil & Gas at our event, London, 13 November 2013. Register here » Print article RSS |
Posted at 12/8/2013 08:09 by fludde The underlying tactics remaining get new investors, pay the board, find a new venture that sounds plausible then rename the company when it all goes strangely wrong. Maybe they could call it Sweet China and go into the Chinese confectionary business. Oh damn that's already been done ;o) |
Posted at 01/8/2013 04:49 by diablo1967 I believe from evaluating the information in the public domain that we will be receiving some sort of news in he following ..... The net proceeds of the Placing and Subscription are approximately £829,500, and will be primarily applied to the development of the Mitterberg Copper Exploration Licences. The Company has sufficient funds to complete an initial drill programme of 750m of drilling at the Mitterberg Copper Project and associated costs. Thus far we have only had one update on Mitterberg which was in relation to grab samples only and this in itself was pretty positive ... Do you think we have completed the 750mtrs of Diamond drilling ? Do you think the results if this may have been shown investors in the £200000 138% premium placing ? It's known that they wanted to complete 1400mtrs and that additional funding would be required to do this which obviously has now been secured ..!! For me I make the only reasonable conclusion to the speculation of why pay a premium and why terminate balamara minty project securing £416000 payback .... "The results of the 750mtrs diamond drilling most be pretty special " When will we the lowly pi find out is what I ask...the city and specialist mining investors obviously know something ;-) IMO take a position at these rock bottom prices. Regards to you all |
Posted at 14/11/2012 19:06 by mike111d Correct, sold as principal and if it helps any the primary transactions for placed shares e.g. company to broker or to individual investors taking up the placed stock are never reported, only subsequent sales of shares acquired are reported.Hope you are keeping well Mr White and sorry to see that you elected to take a bath here. |
Posted at 14/11/2012 14:21 by 34simon I've worked it out, Hoodless Brennan have not changed, they owned the stockbut have sold to their own clients at the offer price, so they all appear like buys, well they are buys but not market maker to private investor, more like bucket shop to their own private investors, perhaps Hoodless got a little piece of the action in the 1p placing to sell onto clients for 20-25% profit. |
Posted at 10/2/2008 21:38 by blackbear Few more news links with some interesting name dropping included..I read Glaxo has a 1.2% stake, would be nice to think the unthinkable. Apart from Goldman Sach institutional investors are still fully involved, I feel the market has had this one wrong for at least 6 months. |
Posted at 07/2/2008 08:03 by dr biotech from the idependantThe biotech tiddler CeNes Pharmaceuticals leapt on a bid approach yesterday. The company has been developing a painkiller, M6G, which is about to enter trials in the US. The drug has fewer side-effects than morphine, so there could be strong demand if it is successful. But for some time CeNes has been looking for a partner to help fund the cost of those trials. It wants an up-front payment, along with future royalties. So far no one has come forward, and before yesterday's rise, the shares had fallen 80 per cent since last year. The market has been losing patience with biotechs. They emerged in the mid-1990s hovering up millions of pounds of investors' money in the quest for miracle drugs. Few have been successful. Institutions have banged a few heads together and forced the merger of some players. The 62 per cent jump in the price values CeNes at £11.3m. A big pharma willing to take a punt on M6G may have decided to buy the whole company rather than pay to enter into a partnership venture to develop one of its lead products. Investors should sit tight |
Posted at 13/1/2008 19:59 by sicilian_kan UK biotechnology in need of healthy injectionBy Salamander Davoudi Published: January 10 2008 02:00 The UK biotechnology sector has failed to deliver and its credibility has been weakened by plunging share prices, slow drug development and investor scepticism, according to a report by Seymour Pierce, the broker. Zhining Xu, an analyst at Seymour Pierce, said the poor state of the credit markets and general negative sentiment had meant last year was a "disaster for biotechnology in the UK". EDITOR'S CHOICE Silence addresses 40% share price fall - Jan-08Credit squeeze casts cloud over biotech - Dec-31Biogen fails to attract buyers - Dec-13Lex: Biogen retreats - Dec-13Novartis set to unveil job cuts - Dec-12GSK in $100m China push - Dec-13In 2007 the country's 47 biotechnology stocks, which constitute Seymour Pierce's UK Drug Discovery and Development Index, underperformed the FTSE All Share by 36.1 per cent. Of the companies in the index 38 suffered decreases in market capitalisation. The sector's problems were further highlighted by the fact that three highprofile biotechnology companies Antisoma, Oxford BioMedica and Renovo struck big licensing deals at the start of the year yet the gains they achieved have since been totally wiped out. Robin Davison, an analyst at Edison Investment, said: "Larger companies have underperformed smaller ones as investors have taken flight from the sector generally. You can't sell the smaller stocks as they almost get wiped out." Shares in Antisoma and Oxford BioMedica have fallen more than 40 per cent in the past six months while Renovo's stock has fallen more than 30 per cent. "It seems a large proportion of investors lose interest, or patience, in waiting for the next value inflection point," says Mr Zhining. "But all three of these companies have a solid cash position and have their lead programmes covered by their partners so they are in a position to push ahead with early stage drug development projects," he added. The report estimates that on average biotech stocks are trading at a 51 per cent discount of their fair value consensus. Optimistic industry observers see potential upside in the short-term and believe the sector may have bottomed out and momentum could build this year. But Mr Davison believes things could get worse as many biotechs are starting the year with less money and the prospect of having to raise capital in more uncertain markets with a reduced share price. The shift from biotechnology, however, has benefited medical devices and medical technology companies, which often have business models with far shorter time lines to profitability. Brett Pollard, an analyst at Numis, said: "We are seeing a flight out of drug makers into medical devices and diagnostics as the regulatory risks are less. We are likely to see more interest in 2008." Last year, many biotech companies were hit by setbacks with their leading drug candidates. Vernalis' Frova failed to gain approval for menstrual migraine from the US Food and Drug Administration. Allergy Therapeutics' key clinical study was put on hold by the FDA after a reported "rare adverse event" and GW Pharmaceuticals was requested by the FDA to carry out additional trials for Sativex, its leading cannabis-based medicine. According to the Seymour Pierce report only nine out of the 47 companies on the index made gains in 2007 while 24 of them lost more than 30 per cent of their market value. The biggest fallers in the sector were Vernalis, which has seen its share price fall almost 90 per cent in the past six months, and CeNeS which has lost 70 per cent |
Posted at 25/9/2006 14:26 by qazwsx123 Investor's Chronicle22nd September 2006 Drugs War Although there are three big companies in the UK pharmaceutical sector, it is largely a two-horse race. Investors pit GlaxoSmithKline and Astra-Zeneca against each other like two rival stallions, with their strengths and weaknesses constantly under the spotlight. Shire, the number three, differs from the other two because it is a speciality player selling niche medicines to specialist doctors. For some years, AstraZeneca was the punters' favourite, thanks to its plentiful pipeline of products in the later stages of development. Its shares consequently traded at a premium to peers'. But the company fell out of the saddle last year after a handful of drug flops, including blood-thinning drug Exanta. So analysts started putting their money on Glaxo instead, citing its now-superior pipeline. Despite this shift in expert opinion, AstraZeneca's shares are ahead of Glaxo's by several lengths this year. This is puzzling, considering that the latter's pipeline contains three potential blockbusters - Tykerb for breast cancer, Cervarix for cervical cancer and Eltrombopag for low blood-platelet count. The company has reported encouraging data for all three drugs this year and analysts think they could eventually generate sales of $4bn a year. By comparison, AstraZeneca has been forced to look to the outside for its next generation of products. It has licensed in Protherics' sepsis drug Cytofab, as well as swallowing up rival companies, such as Cambridge Antibody Technology and Kudos in order to bolster its dwindling pipeline. "What was the last drug AstraZeneca launched?" complains Navid Malik, analyst at Collins Stewart, who backs Glaxo and recommends selling shares in AstraZeneca. "Glaxo has delivered. It is filing three blockbuster drugs this year with the regulators and every single one is novel. But the equity market's not willing to price it in. We thought investors would react to clinical data from Glaxo's products this year, but it seems they won't until the sales have kicked in." Howard Miller, head of research at Teather & Greenwood, counters that the difference in relative share price performance is all down to earnings. "AstraZeneca's earnings growth is significantly higher than Glaxo's," he says. "It's not got a great late-stage pipeline, but its earnings growth is visible, and rumours of a takeover have supported the price." Takeover speculation has also boosted AstraZeneca's shares this year. The industry has experienced some recent merger and acquisition activity (M&A). German company Bayer snapped up Schering AG for E16.3bn after rival Merck KGaA abandoned its bid for the company. And, after AstraZeneca bought up Cambridge Antibody Technology, rumours abounded that it, too, was a target, with Novartis tipped as a potential suitor. Rumours of consolidation involving a UK player have so far come to nothing, though. And, this week, US company Bristol-Myers Squibb (BMS) has effectively replaced AstraZeneca as the main morsel for predators. After the firing of its chief executive, Peter Dolan, US press reports reckon the company is being courted by Schering-Plough. BMS came unstuck after a deal with generic drug company Apotex to keep a cheap version of BMS's blood-thinning drug Plavix off the market fell apart. And analysts point out that AstraZeneca has also said that it sees its future as an independent company. "We haven't seen a bid yet and the share price has gone up strongly," Mr Malik points out. "Whoever the [potential] suitor is, they've made a pretty bad decision. Wouldn't they have bought the company before? Now they're going to pay a 30 per cent premium. I wouldn't be expecting much M&A activity in the sector. And I don't think AstraZeneca is a target. Plus there is a lot of risk in its pipeline." Mr Miller agrees: "I think it's unlikely that we'll see a takeover in the short term. You'd have to pay a fair whack and most of the potential parties have refused to comment on it." Both companies report third-quarter results in late October and, while these statements don't typically deliver much in the way of exciting news, analysts say there is a chance the two companies could raise their earnings guidance. So while investors shouldn't expect any surprises in AstraZeneca's results, Glaxo could update investors on the company's new pandemic bird 'flu vaccine. investors chronicle continues to recommend buying Glaxo's shares and selling AstraZeneca's. Shire: the rumours aren't true ...Shire has been hit by speculation that its new ADHD drug, NRP104, might not cut the mustard. The product, which was in-licensed from partner New River Pharmaceuticals, is currently undergoing evaluation by the US Food and Drug Administration, and an update is expected from the regulators on 6 October. ...rumours are circulating among some investors that the drug will not be approved. They claim that the regulators will drop the product due to the novel way it is activated in the body. However, Navid Malik, who has a 'buy' recommendation on Shire's shares with a target price of 1,086p, insists he cannot see "any reason" why the US regulators would reject the drug. "Nobody knows this market better than Shire," he says. "We still think it will be approved." |
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