Consolidated Minerals Share Discussion Threads

[greenleaf] 18/9/2007 10:01

Yes, 870,000 shares traded today on ASX with a closing price of A$4.70/4.72 (day's high 4.75, day's low 4.64)

There was a suggestion of a false market in the UK over on TMF:

[rmjones] 18/9/2007 08:17

Last share price I have on ASX is for friday: 4.710 dollars = £1.96.



Can anyone confirm/explain this? Was there any trading yesterday in Aus?

[phillis] 16/9/2007 20:36

Doubt it but hope I am wrong!

[nickgrant2] 15/9/2007 18:32

So,

in the UK its best for us to cash in to Palmary. $4.50 at 41.9 pence per dollar (sourced from one of the foreign exchange site) gives a price of 188.5.

Is it the off market nature of the bids that leave us floating below the bid value?

I expect Gilbertson will come in for another one.

[culchi] 14/9/2007 09:18

buying in oz. at around 4.70 seems to suggest we might still have another bid from gilbertson. Still sitting tight . As i have already said , big ego , neither side want to lose.

[sammu] 13/9/2007 23:04

Maybe Tinfos will wait for both Pals to shoot their bolt before deciding whether their remains value in entering the fray and delivering a knock out blow?

I recall that Palmary own just under 15%, Noble 6.5%, Tinfos 5.1%. I'm not sure exactly how much Pallinghurst own, but there is reference to a fully diluted approximate 10% stake. Just FYI.

[greenleaf] 13/9/2007 22:55

Interesting to note that there was a late reported trade in the UK today: 935,000 shares at an average price of 178.86p (it's not clear over what period these shares were traded - presumably they represent part of the same stake building which has been going on in Australia)

[phillis] 13/9/2007 18:46

Tinfos have done DD but no bid made-yet

[greenleaf] 13/9/2007 16:59

...and who is buying in volume at above Palmary's $4.50 bid?

[makingheaps] 13/9/2007 10:58

Presumably there is no fourth bidder or they would have announced today that they had granted due diligence access to them.

Like everyone else I cannot understand the disparity between UK and AUS. My assumption is market forces, ie there is no demand in the UK to buy shares therefore the MM's keep the price low to entice trade. Meanwhile if you sell in the UK market they make enough holding onto the stock until completion.

[greenleaf] 13/9/2007 09:20

Current position

Recommended bid from Palmary: A$4.50 (£1.865)

ASX closing price: A$4.62/4.65 (£1.92/1.93), volume 4.3 million shares, high A$4.69 (£1.94), low A$4.61 (£1.91)

This morning's AIM price: £1.81/1.85

...so in Australia the shares trade above the agreed bid and in the UK they trade below it

[leadersoffice] 13/9/2007 08:05

is Pallinhurst likely to come back for another punch up with an increased offer or walk away? It is interesting to note that the board were promised positions on the new CON MIN board. There has been no talk as to if they will retain there jobs under Palmary

[greenleaf] 12/9/2007 19:38

The status of the bid is here:



It is conditional on a recommendation from the CSM board by midday tomorrow and a break fee for the deal being put in place by the CSM board by Monday

Incidentally the GBP/AUD exchange rate has moved and the bid is now worth around £1.87

[primachm00] 12/9/2007 18:37

does anyone know status of bid from ukraine buyer?

[sammu] 12/9/2007 17:45

$4.50. Not entirely unexpected but good news anyway.

It will be interesting to see if the 4th party has anything to add!?

[goingforgreen] 12/9/2007 17:12

Indeed! That converts to around GBP1.85, so looks like the London price still has some headroom.

[leadersoffice] 12/9/2007 16:11

this is excellent news!

[dpmcq] 12/9/2007 15:54

Now we know why the jump - $4.50 bid

[midherts] 12/9/2007 14:19

As I understand it, none of the bidders can buy in the market without increasing their bid. So it looks as if the buyer late on in Australia - and here in the last half hour is someone else. It begins to look as if the fourth party is about to bid and perhaps A$4.85 (£2) is a possibility.

[a3477681] 12/9/2007 12:58

Todays sells are being snapped up without dropping the price. So somebody wants em!

[greenleaf] 12/9/2007 09:49

It went on to hit a high of A$4.60 (£1.89) before closing (8am our time) at A$4.39/4.50 (£1.80/1.85) with a volume of 6,500,000

It's currently quoted on AIM at £1.71/1.75

If Australian takeover rules are anything like ours, I think the fact that it has always been priced in the market above the Pallinghurst offer means that Pallinghurst will not have been able to buy in the market. So I guess that others are still stakebuilding

[gryphon2] 12/9/2007 08:56

out now .. made a good return time to use the money elsewhere good luck to all who still hold... off bottom fishing .. made 14 k from csm over past 4 months .. much better than anywhere else

[dpmcq] 12/9/2007 07:29

Big jump at the end in Oz on good volume finished $4.56, RNS due?

[nickgrant2] 11/9/2007 21:44

Greenleaf, anyone, Any idea why the difference?

[greenleaf] 11/9/2007 09:52

Up again in AUS to A$4.35/4.39 (£1.77/1.79) but still £1.67/1.70 here