|Copper Resources Corp
||EPS - Basic
||Market Cap (m)
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Copper Resources Share Discussion Threads
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|If there's anyone who still tracks this thread, could I ask for your opinion of the Hinoba-an copper project and for any links or research notes you may have.
My reason for asking is that Mitchell Alland is back in control of the project via a private BVI company called Copper Development Corporation which plans to IPO on AIM in the near future.|
|COX.......I dint care where it is going as I sold at 90p after holding for 2 years!!!!!!!!!!!!!!!!!!!!!!!!!!|
|I would be interested to hear any thoughts on this. I am not sure where this is going with 97% of the shares now owned by 2 different companies so very few shares in free float but it keeps on rising.|
|Seems that a bidding war is about to break out looking at the valuation at the top of the thread even at £2.80 it is still undervalued.|
|To be honest I have no idea as to what is happening here. With the stock in the 160s there seems to be no relationship to the pricing of the Metorex bid. My guess is that there is someone out there building a competing position with Metorex. It could be Glencore, who if you remember were at one point going to be given a substantial stake in the company (via a new share issue). if no-one is there is no rationale to the current share price. Having been in since 40p I sold most of my holding recently at 146p, but I still retain some, but am likely to sell them as soon as I can, given price rise. Go the Metorex or CRC site for all the background info relating to the offer. The risk is that Metorex will get sufficient acceptances to enable it to make a mandatory offer for all outstanding stock and then you'll get 125p or stock equivalent. Given the current share price this would not be clever if you still hold. Take your pick. I don't know what your situation is, so difficult to provide any advice here. Everyone else on the BB seems to have lost interest.|
|Can anyone please help me understand the Metorex bid for Copper resources CRC.
Does anyone know what happens if PI's don't accept either of the offers made by Metorex. Do we still keep our shares in CRC or are we forced to accept 125p cash or the 0.73s share of Metorex for every CRC share. Sorry if this is a stupid question but i've never been in this situation before!!
Any help would me much appreciated.
|Anyone got an update on this. Why did the share price rise by 20p on Friday, when Metorex's share price didn't really budge. On current offer it is either 125p cash or 0.73 per share of a Metorex share, which equates to just under the cash offer. Mid 140s it is not. Does someone know something I don't!|
|Picked some up today at 145 on the b/o...Chart held up well in the turmoil and looks set to go higher|
Looks like financial engineering to me.
With a chart like that - not for me|
|The value baised on todays price is equivalent to around £1.51 I have been advised.|
|Metorex share have advanced significantly since the offer. They are certainly getting some cheap assets.
I calculate the bid price is equivalent to more than £1.40 in Metorex stock value.|
|Second para looks interesting to those still holding....
5 July 2007
Copper Resources Corporation
Re: Substantial Shareholding
The Board of Copper Resources Corporation ("CRC" or "the Company") notes the
announcement by Metorex Limited ("Metorex") of its acquisition of 29,247,126 of
the Company's common shares from the Forrest Group.
In particular, the Board notes that Metorex intends to make an offer to the
other shareholders of the Company.
The Board further notes that the acquisition of the shares held by the Forrest
Group is subject to a number of pre-conditions, including satisfactory due
diligence by Metorex.
In view of the interest of three Directors of the Company who are directors of
companies within the Forrest Group, a committee comprising Sir Samuel Esson
Jonah and Mitchell Alland (the "Independent Committee"), which was set up in
February 2007, will review the strategic options for the Company, including the
consideration of the possible offer by Metorex.
At the present time, the Independent Committee has had no discussions with
Metorex about the terms of the offer referred to above and therefore is not
currently in a position to advise the Company's shareholders on the action that
they should take. Once further details of the progress of Metorex's transaction
and the possible offer are available, a further announcement will be made.
The total number of the Company's shares currently in issue is 70,694,191.
As announced on 26 February 2007, the Company agreed to issue 5,025,873 new
common shares to the Forrest Group to settle certain debt obligations. These
shares have not yet been issued, but are included in the above mentioned number
of shares being sold by the Forrest Group.
Although incorporated in the British Virgin Islands, the Company has adopted
certain provisions of the City Code on Takeovers and Mergers within its
Articles of Association, as was disclosed in the Company's Admission Document.|
|I stand corrected - the share exchange details were not on the earlier statement. Apologies for earlier misinformation - I blame the advisors for not making these deals perfectly clear straight away. Not giving any views re: sell or hold as I dont know enough about Metorex.|
|Just sold out at £1.20 so see you on the other threads guys.....|
It's not a cash deal. Metorex will issue 21.3 million shares to Forrest in eachange for their shares in CRC.
The CRC assets that Metorex are buying are cheap, the market appears to like the deal and Metorex shares are up since the offer was made. I make the current value of the bid in excess of 130p.
CRC shares are now really equivalent to owning Metorex whose shares have put in a stellar performance in the last few months. So I have the feeling that CRC shares may appreciate a little more ove the next few days as the news sinks in.|
|Simple maths really - they are paying Forest 125p cash and will have to offer minorities 125p aswell. Cant see any other outcome as Metorex have control of CRC post this purchase. You can either take a slight discount in the market or wait to get 125p from Metorex. Its all over - onto the next one.|
|38.7% for 36.56m = £94.5m share capital how the hell do you get 145p when there are 70.594 shares in issue, 6.8m warrants & 4.9m options?
Just taking the shares alone only equates 133p!
Take out the options and you're down to 125p. If the warrants are taken into account its 115p.|
|no wonder they are offering over mid for shares. Wakey wakey.|
|145p it should be, warrants aren't included in a t/o deal. Getting a steal here under 140p.|
dbj the first
|yes people not worked it out, also this will go for more given the nav, plenty of co's will be looking at this if they think they can get it sub 150p. Sit back and relax.|
|douggy - 29.2m shares for £36.56m is £1.25 pershare......|
|no it will be over 150p, why do you think MMs been buying????????????????
nice chance as peeps not cottoned on here yet.|