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CNM Consol.Minerals

206.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Consol.Minerals LSE:CNM London Ordinary Share AU000000CSM6 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 206.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Consolidated Minerals Share Discussion Threads

Showing 2451 to 2472 of 2700 messages
Chat Pages: 108  107  106  105  104  103  102  101  100  99  98  97  Older
DateSubjectAuthorDiscuss
26/7/2007
05:37
Up 12 cents in Oz overnight!
gryphon2
25/7/2007
20:40
Sandpipers -> "The price went up late in the day with no transactions."
Not all transactions go through LSE. 'Selftrade' for example frequently use alternatives

rmjones
25/7/2007
16:37
Looks odd. As you say, blue here where red is elsewhere. The price went up late in the day with no transactions. I'm trying to find out if there is any news from Aus.
sandpipers
25/7/2007
14:58
are you watching dsandpiper .. on a day when teh market is going backwards we are blue .. I think a big buy order working behind the scenes!
gryphon2
24/7/2007
08:11
Not yet but I'm thinking about it.
sandpipers
24/7/2007
07:40
well spotted sandpiper you are on the ball this morning! someone else has followed me in though... you?
gryphon2
24/7/2007
07:34
10,000 I believe!
sandpipers
24/7/2007
07:22
well. based on little downside risk I have added more today!
gryphon2
24/7/2007
06:12
Andrew Trounson, Takeovers | July 24, 2007

MICHAEL Kiernan's Territory Resources will decide by the end of the week whether
to make an alternative all-cash offer for Perth-based manganese miner
Consolidated Minerals.
Speaking yesterday to The Australian from India, Mr Kiernan said an all-cash
alternative offer to Territory's current cash and scrip bid was possible, as he
tries to see off a rival $3.30 a share all-cash bid from Brian Gilbertson's
private equity resources fund Pallinghurst.
"We could give a cash alternative. It is certainly being canvassed at the moment,"
Mr Kiernan said.
Such an offer would be made concurrently with the existing combined scrip and cash
offer, he said.
Mr Kiernan is in India on business for listed explorer India Resources, of which
he is executive chairman.
But he plans to return to Australia later in the week, when Territory will review
its options.
Under pressure from the Territory bid, Pallinghurst was forced last week to make
an all-cash offer for ConsMin, dumping its already improved previous offer of
$1.68 a share plus two shares in a new ConsMin for every five held.
That offer was was aimed at securing 60 per cent control of the target.
The new all-cash bid, which is conditional on Pallinghurst securing 50.1 per cent
of ConsMin, has been backed by the ConsMin board.
The board has supported Pallinghurst throughout the takeover battle, much to the
chagrin of Territory and a group of ConsMin shareholders concerned that
Pallinghurst's original offer was too cheap.
While Territory's offer of $2 cash plus 1.5 Territory shares currently values
ConsMin shares at $3.68, the ConsMin board doubts the value of Territory scrip and
is concerned at the debt Territory is taking on to fund its bid.
Pallinghurst is also trying to tempt ConsMin shareholders with Mr Gilbertson's
undoubted -- but to date intangible -- deal-making skills.
Pallinghurst is believed to have signed a memorandum of understanding over a South
African chrome asset and a coking-coal asset, which it plans to add to ConsMin if
it wins control.
Mr Gilbertson is a former CEO of resources giant BHP Billiton, and is credited
with building South Africa-based Billiton into a resources major.
ConsMin shares yesterday continued to hold a premium to Pallinghurst's bid, but
fell 4c to $3.42, valuing the company at $779 million.
Territory shares fell 2c to $1.125.
Territory is being backed by Hong Kong commodity trading group Noble, Austrian
trading house DCM DECOmetal and US bankers Lehman Brothers.
In Pallinghurt's corner is US trading group AMCI, South Korean steel giant Posco
and US investment group NGP Midstream & Resources.

sandpipers
21/7/2007
12:20
its not over till the fat lady sings Baxter!
leadersoffice
20/7/2007
15:35
Making heaps .. I hope you are right but he will have to find cash somewhere and take away all his conditions.. I thought Kiernans bid was opportunistic but appealed because Pallinghursts was so lousy .. now maybe a third player will come in with a knock out blow .. that is what I expect.. I remember significant buys around 148/150 earlier in teh week .. you don't make those unless you know something all imho of course and I could be wrong .. lets see what monday brings!
gryphon2
20/7/2007
14:48
Kiernon knew that the previous Pallinghurst bid was below par. He would also know that Pallinghurst would respond to any bid he made so will have a plan B up his sleeve. There is no way he and Noble will just shrug their shoulders and walk away. I think they're more likely to go for a knock out second bid at something like £1.55 or £1.60
makingheaps
20/7/2007
09:14
Clever offer by gilbertson ,now only needs 50%and gives holders a chance to share in upside. But why cant he offer the present market value or try to buy them in the open market. Kiernan will have to respond quickly. Will still sit tight and await further development ----patience---
culchi
20/7/2007
07:29
This converts to only 141.16p
et1
20/7/2007
05:40
Another lousy offer from Pallinghurst. Poor offer plus directors keep their jobs adds up to NO!
sandpipers
20/7/2007
04:56
$3.30 cash bid from Palingshurst recommended by the Directors .. market closes at $3.44 indicates market expects another bid.

Directors recommend bid . agree that we shareholders should pay $5m if they stop recommending bid.... scandalous!!

gryphon2
19/7/2007
22:10
Unless the two bidders increase their offers (which seems quite possible), I would hope that both bids are unsuccessful. If this was the out-turn, then I would expect the share price to move up as a result of the rejection of both offers.

The TTY bid is better than the Pall. bid, but the status quo remains slightly more attractive.

Sam

sammu
18/7/2007
19:21
researching the manganese market and noticed this link to the Macquarie article mentioned by culchi,
gardenboy
18/7/2007
14:46
The Board is now rubbing its hands. It is issuing frequent releases to up the anti with two bidders.
Expect a higher offer from P because the situation has changed

phillis
18/7/2007
14:19
My posting from 6 June 2007:
"I think the asset base, given current metal prices, is nearer Aus$4 than $3. One day the markets might recognise this."

I now think that Aus$4 is rather prudent. How about Aus$5? One day the markets might recognise this but will they in 2007?

sandpipers
18/7/2007
11:59
I note that the free hot copper aus. site now has an update from Macquarie Research Equities stating csm. is worth considerably more following the unaudited results. With the rise in the global manganese market,they have an outperform rating with a price target of 3.80 aus . They feel both bidding parties will need to and are capable of paying 4.00 aus. dollars for the company . that converts into £1.65 . .
culchi
18/7/2007
08:46
It's going to be very interesting. The major factor that determines the fortunes of this company is the world price of metals. Movements over the last six months favour shareholders and makes it more difficult for opportunistic bidders to succeed. Few, except the board, are interested in the Pallinghurst offer. On the other hand, Michael Kiernan would love to get his hands on the company's assets and would do well while world prices stay high. The existing board know that if Michael Kiernan succeeds, most, if not all, will lose their jobs. Therefore the board is fighting for its own survival. What fun!
sandpipers
Chat Pages: 108  107  106  105  104  103  102  101  100  99  98  97  Older

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