China Goldmines Share Discussion Threads

[giant steps] 09/12/2009 12:42

Prices bid 12p offer 13p

Observe 500K just published at 12.5p, another institution purchase ?

[giant steps] 09/12/2009 09:55

Anglo Pacific up their holding, no surprise but great news

From 3,460,000 to 4,210,000 (now 8.68% )


RNS 9th Dec 2009

[stuart14] 04/12/2009 12:37

Just wish you could actually speak to the Co here. Franks No doesn't even work!

[giant steps] 04/12/2009 12:32

bull_mega, seeing as you are unsure it is probably best you avoid
- but as usual do your own research and make your own decision.

[bull_mega] 04/12/2009 12:30

advise me to buy this dog or not ????

[giant steps] 03/12/2009 14:42

Do we have a regular institution topping up ? Watch for the announcement

Observe trade 500K @ 11.875p just published
Prices bid 11.5p offer 12p, 2 v 1

[stuart14] 30/11/2009 09:53

I think i'll hold both for a while. Expect to get out of OVG at 9p (entry price) sooner than CGM's 65p average!

[giant steps] 30/11/2009 09:40

Arguably the investment case becomes more compelling with a falling s/p

Prices bid 11p offer 12p

Prospects giving discounts 37% vs 63%(inc warranty),
and percentage rise to par 60% vs 169% (inc warranty)

[elban] 27/11/2009 17:20

Both notoriously awful at keeping shareholders informed.

I hold OVG but getting really frustrated by their abysmal communications.

Sold all my CGM shares on day of sale announcement (got lucky there).

[giant steps] 27/11/2009 14:41

Stuart14,

CGM vs OVG, that's an interesting head to head challenge

"Aussie effect" vs "Russian effect" - both with huge discounts

I would have no problem if CGM part-invested in OVG.

GS

[stuart14] 27/11/2009 14:33

Think they should change their name to "31p per shares worth of cash to invest" Might bring in some interest!

They are about 9 months behind Ovoca when it comes to Gold investments. Sadly I hold there too. Will be interesting to see what sort of return they've generated with their money!

[giant steps] 27/11/2009 14:27

Explanatory Notes to the Annual General Meeting Resolutions for 2009



Extract
"
Change of name

Currently, a company can only change its name by special resolution. Under the Companies Act 2006 a company will be able to change its name by other means provided for by its articles. To take advantage of this provision, the New Articles enable the Directors to pass a resolution to change the Company's name.
"

[giant steps] 27/11/2009 11:15

Geared 10 Month Bet, Cash Covered 18p to 31p Shares (millions)       48.48 Price  £ 0.1250 MCAP £m          6.06 Xrate        1.65 Warranty $10m       10.00 $m £m Disc £m Discount Gain to Par Share (£) Funds exc warranty       14.70          8.91          2.85 32% 47%  £   0.184 Funds inc warranty       24.70       14.97          8.91 60% 147%  £   0.309

[giant steps] 27/11/2009 10:31

"
Anthony Bolton is investing in China. Will you?

The country's most renowned fund manager, who made a fortune for his clients, is emerging from retirement to launch a Chinese fund. Should small investors follow him?
"


The argument
YES
China will continue growing while debt-ridden Britain lags behind

NO
It's a bubble waiting to burst

[giant steps] 26/11/2009 18:56

Paul, yes - a name change seems almost inevitable; will probably be
after the AGM once the investment strategy is agreed.

From page 30, 2009 accounts

"
Relations with Shareholders
The Group values its dialogue with both institutional and private investors. Effective two-way communication with fund managers, institutional investors and analysts is actively pursued and this encompasses issues such as performance, policy and strategy. During the year the directors had a number of meetings with institutional investors whose combined shareholdings represented over 49% of the total issued share capital of the Company.
Private investors are encouraged to participate in the Annual General Meeting at which the Chairman presents a review of the results and comments on current business activity.
"

[pauladrew] 26/11/2009 15:55

GS - it would be nice to change the company's name and get rid of word 'China'.
I think the current company name is misleading PIs.

[giant steps] 26/11/2009 15:11

Extract from Annual Account (now history, but reminder of Mr China)
"
However, as the security situation grew increasingly serious, preventing us from processing higher-grade mining which would fund planned development, we were restricted to mining only small regions within the Mining Licence at a time. Given the widespread nature of the incidents, Local authorities were ineffectual in assisting us.
"

[giant steps] 26/11/2009 14:50

RNS 26th Nov 2009



Extract
"
Annual Report and Financial Statements

China Goldmines plc announces that the Annual Report and Financial Statements
for the year ended 30 June 2009 were posted to shareholders on 26 November 2009,
together with a notice convening an Annual General Meeting ("AGM") and
explanatory notes.

The AGM of the Company will be held on Friday, 18 December 2009 at 9:30 am at
the offices of Brewin Dolphin Limited, 12 Smithfield Street, London EC1A 9BD.
"


Final Accounts 2009

[fordtin] 25/11/2009 15:56

I wouldn't object if they put 10% in APF and maybe diversify 10% into an oiler like XTR. I don't follow many foreign listed companies, but I think HKX:575 would be worth a look too.

[giant steps] 25/11/2009 15:10

fordtin, yes - interesting strategy, i like it

CGM could also go for some OVG, that looks well discounted, unloved and ignored ;-)

Any other discounted cash stocks ? (any thoughts re EO. ?)

[fordtin] 25/11/2009 15:07

CGM could do a lot worse than seeking out & investing in companies trading at a huge discount to assets and/or cash.

eg. putting 10% of available funds in LRL, another 10% in PRL, etc.

[giant steps] 25/11/2009 14:44

O/T

fordtin, i read the LRL quarterly report and note the 13p. However, CGM may
prove more interesting given prospects via Clive Donner/ LINQ or that offered
by Anglo Pacific. I think our cash will make money in 2010.