||EPS - Basic
||Market Cap (m)
Real-Time news about Consol. Gen.Min (London Stock Exchange): 0 recent articles
|chestnuts: The directors of this company should be sacked they had a great company just on the verge of production, and also on the verge of the biggest gold run probablby ever, and what do they do they sell it out at a very cheap price and rob the shareholders of an exciting company , they should be a shamed of them selves, where is the fsa at , just think the share price for this company would most likely be nearer £3 now, also why don't they cancel the listing and then share out the proceding all in 1 day.|
|giant steps: CaC, the other factors to be mindful of are director fees, other admin costs,
compensation for loss of office if windup proceeds. Any perceived discount in
the current share price (assuming no claim against $10m) may soon disappear.|
|themoneymonster2: As of 28 February 2010, the company was left with cash of $23 million in cash, which translates into £15.27 million or 31.5p per share at current rates. This compares with a market cap of just under £10 million and a share price of 20.25p.
Some talks are already underway, but the company has until September 2010 to make a company-transforming deal before the liting authorities start getting agitated (CGM now being classified as an 'investing company' under AIM Rules). Failing that, the cash burn rate is low and the cash is currently sitting in an Australian bank account earning a decent rate of interest, so the company should be able to return not far short of the current cash position to shareholders. Either way, it's a nil brainer!|
|agcooper: I can understand why so many shareholders wanted to get out of this company, with the share price at an all time low point. I must be one of the few who has been buying recently- @ 11.75p, 12p, 12.8, & 13p. (112,500 shares in total). I think 2010 will be a very exciting year for the company, whether they buy into a new project, or return their cash back to the shareholders. Cannot see much downside to the share price with so much cash in the bank very soon. Personally I see a lot more upside & excitement with investment in a new resources project, whether in oil or mining. Is the Robert Adair the same one as at the oil company Melrose Resources? Returning cash to shareholders must surely only be a last resort if no good project can be found by September 2010. I have also bought into Leyshon (LRL) within last few months, it's in the same position as CGM with cash in the bank from selling a project in China.|
|giant steps: O/T
Ovoca Gold, another good example of discounted cash.
Reminder from chairman's statement, June 2009
I would like to take this opportunity to address shareholders directly. I know it has been a frustrating experience as the share price has been depressed for so long. As a large shareholder of the company I am particularly aware of this issue. However, sometimes the market is irrational and this seems to be the case now, as we trade at a fraction of the cash and securities value the company has. However, we are not alone; there are multiple junior mining companies that are currently trading below their cash level. This may not be particularly reassuring, but it does let you know that the share price phenomenon of Ovoca is far from unique. What is the answer to this issue? What is the road to higher share price valuation? I think it is clear. Utilizing our cash position wisely, and deploying our human capital on our existing projects in the Kola Peninsula as well as making opportunistic, value accretive acquisitions will serve to raise the value of Ovoca. It is here where I must make a point; short-term promotion, without substance, will only lead to disappointment. In fact, I would argue that much of the world's current economic malaise is due to promotion in the absence of tangible value. Please note, lack of promotion does not mean passivity. It simply means acting like the serious company that we are. I look forward to 2009 as a year of change and new beginning. Crisis is also opportunity, and Ovoca like never before is prepared to seize opportunity and create value.
free stock charts from www.advfn.com|
|nilip: Share price starting to look very perky all of a sudden ?
free stock charts from www.advfn.com
Chart looks like we're coming off the bottom for a recovery bounce ...
I've just gone long :-)|
|fordtin: Gs, not quite following you re 151%.
The way I've been looking at it is :-
share price of 13p + (55.24% of 13p) = 20.18p|
|fordtin: I'm not quite sure of the purpose of your question, but if you are seeking a comparison;
operationally UGY are performing much better than CGM, in terms of current share price they are doing no better. UGY are profitably producing at a rate of approx 60,000 ounces per year with a proven capability as opposed to CGM's as yet unproven target of 25,000 ounces which has just been revised down to an unproven 20,000 ounce target.
As the two companies have a similar market cap, UGY are obviously much better positioned to benefit if gold ever makes the long awaited break-out to new highs.|
|elban: Quarterly update - my viewpoint
The production figures for the quarter were very disappointing - 2,399 oz mined, 1,417 oz milled and only 560 oz sold. I assume that they must have had some gold milled externally and increased their gold stock - otherwise it looks like an awful lot was stolen.
Cash (and near equivalents) fell from $12 million to $9.3 million - so an approx $3 million cash burn. But what do we have for that cash?
(1) a new high grade ore body
(2) improvements in the individual mines
(3) acquired land rights
(4) advancement of long term plans
(5) payments towards the Gekko system (?)
(6) progress with highway 40
This looks like a reasonable return, so although the advancement in gold production was not realised this quarter, at least the company looks to have a higher intrinsic value at the end of the quarter than at the start.
Clearly the management need to get their security sorted out - but now at least we now know what they meant by "disturbances resulting from local cultural issues" - i.e. the locals are a bunch of thieving gits (as a less politically correct analysis).
The tone of the update was very encouraging with: "we should be ideally placed to pursue significant gold production over the coming year" and "ahead of a ramp-up in operations" and "further capacity will be brought on line to meet the Company's gold production target of 150,000 oz by the end of 2011".
This certainly implies that we are very close to a step change in gold output and hence in the value of the Company. I am sceptical that they will hit 150,000 oz by the end of 2011, but this is not necessary for an increase in the share price by multiples.
The new high grade deposit, combined with previous finds, suggests to me that they are sitting on at least 2.25 million ounces of mineable gold. [Obviously others may have different estimates.] I would expect that if the property was to be sold, it would require bids of well in excess of $100 million.
The fact that they are in discussion with "Companies/Partners who have experience in operating mines in China" suggests that advancement could be imminent - either by the way of someone taking a stake in the mine and assisting the ramp-up of production or by a bid.
I am inclined to believe that something is occurring because of the statement "CGM has taken the opportunity to review the most efficient way of generating funds and value for shareholders from the current gold price".
The resilience of the share price to the production figures shows that there is significant confidence in the progress towards increased gold production. This indicates that a significant jump can be expected when the news is actually good.|
|elban: The next trading statement should be the crunch time. If they are still on track for producing 20,000+ oz this year then CGM will probably be on a PE of much less than two and a sudden jump in share price can be expected.
If they issue an optimistic trading statement that indicates a timescale for production rising in line with previous expectations to 150,000 oz pa then a very large sudden rise may occur.
The recent share price rise of NGL could provide a model of what to expect for CGM - if targets are met.|
China Goldmines share price data is direct from the London Stock Exchange