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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Creat Res Ld | CRHL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.18 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.18 | 0.18 |
| Top Posts |
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Posted at 16/5/2014 07:04 by stockonomist hxxp://www.moneyweekWhy I don't buy Chinese stocks on AIM By Tom Bulford Sep 18, 2012 Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice. "You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you'll never make money in China with that attitude. You'll only be taken advantage of. People will trade off you. They won't pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don't trust each other?" Now that advice is pretty close to the bone. But I've said it before in Penny Sleuth you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes... |
Posted at 11/5/2014 20:40 by theivorytower Things are looking a little brighter for ASX-listed Galaxy Resources (ASX:GXY), which last week signed a binding share purchase agreement (SPA) with Sichuan Tianqi Lithium Industries (SZSE:002466) for the purchase of Galaxy's Jiangsu lithium carbonate plant in China.The transaction is valued at US$230 million, including cash considerations of $122 million and the assumption of $108 million in Chinese debt, and will leave embattled Galaxy Resources looking at a very different balance sheet when it closes. Specifically, with the closing of the SPA, Galaxy will see its balance sheet transition from material negative working capital to a "pro forma positive cash balance of approximately A$62 million." That positive cash will enable the company to focus its efforts on the Sal de Vida lithium brine and potash project in Argentina, an asset it views as core from a position of financial strength. Galaxy's managing director, Anthony Tse, told investors that "[t]his transaction with Tianqi provides Galaxy with the opportunity to significantly strengthen its financial position and transform its balance sheet," adding that moving forward, Galaxy will "continue to retain significant exposure to the lithium sector, through the Sal de Vida lithium brine project and with Mt Cattlin in Western Australia and James Bay in Quebec." The SPA should take about three months to complete. Tianqi ... sound familiar? Investors familiar with recent action in the lithium market may recognize the name of the company that has agreed to purchase the Jiangsu plant. And with good reason. Sichuan Tianqi Lithium Industries is part of Chengdu Tianqi Group, a private Chinese firm that is well on its way to becoming a world leader in new energy, new material and milking machinery manufacturing. It specializes in the lithium industry, a position that it improved in 2013 when it purchased Australian lithium company Talison Lithium. |
Posted at 20/9/2013 12:42 by rec0very stock Typical.Whilst nobody should make an investing decision based solely on posts, any sensible investor takes account of all information and views in their decisions. Why bother to post if you do not think anyone will take the blindest bit of notice, though given the complete garbage you have posted, I can understand why you might think nobody should take any notice of you. I need no validation, I am not invested here, I am invested in GXY, time will tell if that was a good decision or not, but in making it I took account of all the information and views available on it. Given that GXY do produce a good deal of info and there is an active discussion about it on Hotcopper, I cannot complain about a lack of information and views. CRHL however have produced no information and they could and should have. They ceased, over a month ago to be a significant investor in GXY, they did not tell their holders that nor did they give any explanation of why that was the case - they knew it would be. Even the reported phone conversation has not lived up to the promise reported in it. Unlike you and CRHL, I have provided accurate and timely information regarding GXY and CRHL's stake in GXY as well as what has proved to be well founded analysis. So for you to ask "what are you talking about?" says far more about you than it does me, especially when you follow it up by trying to suggest I have something missing in my life. If people like me did not bother to share the information and analysis they have, we would have no discussion board worthy of the name, just mindless ramping boards - good to see post 2110 mindlessly ramping another stock has been removed, well done to whoever made that happen. |
Posted at 20/8/2013 00:38 by rec0very stock It is totally ridiculous to talk about the last trading price before the halt. Morris would have had some credibility if he had referred to the TERP. It is already in the public domain that CRHL did not take up any rights and as a result has been diluted out of significant investor status. As far as Creat group rotating their directors is concerned, it smacks of winning employee of the month and instead of a parking space near the lift and a photo on the wall and maybe a book token you get to be on the board of a bombed out AIM microcap with some directors' fees to boot. |
Posted at 14/8/2013 18:02 by acta_topup Exactly, CRHL is in debt to it's 50% shareholder the Creat Group. This is not "debt" in the true sense of the word. There are no other significant entities involved and Creat have already made it explicitly clear (using the same turn of phrase as they have done year on year) that they will continue to support the company until Summer 2014. It would make no sense to call it in as they would have absolutely nothing to gain. And plenty to lose. They would also miss out on the opportunity afforded by the listing which could be used for a new rapid growth investment.Given the free float all it would take for a massive rise would be the appointment of a major new figure to the BoD. A wealthy Chinese investor with connections to Yuewen Zheng or other Creat board members is quite possible here. |
Posted at 15/7/2013 17:50 by acta_topup Nice post on hotcopper. GXY management finally stepping up to the plate:sydney investor presentation (salty74) Forum: ASX - By Stock (Back) Code: GXY - GALAXY RESOURCES LIMITED ( 23c | Price Chart | $140.90M | Announcements | Google GXY) Post: 9518231 (Start of thread) Views: 204 Posted: 15/07/13 16:08 Stock Price (at time of posting): 23c Sentiment: Buy Well, just spent over 2 hours at the Sydney preso - I was very impressed with Anthony Tse - he took a lot of tough questions and handled himself very well. The whole gist was that he knows the money wasn't handled very well in the past and his first focus is getting on top of costs and reducing debt while at the production level concentrating only on Jiangsu - he admitted that they can't produce at $17k per annum currently - as they need around $5M to tweak the plant to ramp up at name plate levels. He said at the current pace he can confidently predict $10-12k tonnes. He knows it's a big ask for shareholders to stump up more cash - but he's confident in the company, stating he believes in the assets. He knows he's in the hot seat and he wouldn't have taken the job on if he didn't believe he could turn the company around. He said if the Koreans take up the option to go from 4% to 30% that's all well and good and they will have to back the debt for capex to completion. He said if they don't take up the option they are already in preliminary discussions with Chinese investors who may take up to 40% of SdV. Again he said Jiangsu was the main focus and SdV is around 5 years away from making money. A very important point was that he and Charles Whitfield both believe the major holders are taking up their full entitlements - so the minimum raising of $12M is all but guaranteed. They are in discussions with the convertible bond holders to either move to equity with 'a bit of love given from each side' otherwise to extend the timing further (they are up in November this year). I really liked his focus on cutting costs and getting cash flow in - it's made me feel more confident that GXY can pull through. It won't be easy and it will take time. We shall see. |
Posted at 21/5/2013 22:14 by sniffer78 convertible note.Convertible notes are often used by angel investors who wish to fund businesses without establishing an explicit valuation of the company in which they are investing. When an investor purchases equity in a startup, the purchase price of the equity implies a company valuation. For example, if an investor purchases a 10 per cent ownership stake in a company, and pay $1m for that stake, this implies that the company is worth $10m. Some early stage investors may wish to avoid placing a value on the company in this way, because this in turn will affect the terms under which later-stage investors will invest in the company. Convertible notes are structured as loans at the time the investment is made. The outstanding balance of the loan is automatically converted to equity when a later equity investor appears, under terms that are governed by the terms set by the later-stage equity investor. An equity investor is someone who purchases equity in a company. Example Suppose an angel investor invests $100,000 using a convertible note. Later, an equity investor invests $1m and receives 10% of the company's shares. In the simplest possible case, the initial angel investor's convertible note would convert to 1/10th of the equity investor's claim. Depending on the exact structure of the convertible note, however, the angel investor may also receive extra shares to compensate them for the additional risk associated with being an earlier investor. |
Posted at 01/5/2013 16:48 by sniffer78 Totals: Top 20 holders of FULLY PAID ORDINARY 662,957,135 99.35Total Remaining Holders Balance 4,319,539 0.65 As at 18 April 2013 Note: Pursuant to the CRHL Constitution a shareholder is a party registered on the Australian registry who has been provided with the share certificate by the Company or Computershare as its agent. Only a party listed on the Australian registry is a legal shareholder. As the Company's shares are traded on the London Stock Exchange's AIM, Computershare maintains a Depositary Interest (DI) service in the UK (where "Computershare Clearing Pty Ltd (UK)" is the legal owner) and maintains a register of the beneficial interests of investors. The DI structure allows intermediaries and investors to trade in the Company's securities while settlement is effected electronically in the CREST system. DI's held by Computershare Clearing Pty Ltd (UK) are designated by "UK". |
Posted at 12/2/2013 14:58 by whereareallthemugpuntersyachts this company has MASSIVE LIABILITIEShttp://www.moneyweek Why I don't buy Chinese stocks on AIM By Tom Bulford Sep 18, 2012 Greg Rudd, the brother of the former Australian prime minister, once met a Chinese businessman who gave him some prudent advice. "You tend to see the good in people, Mr Rudd", he started. "People like you. You laugh a lot. But you'll never make money in China with that attitude. You'll only be taken advantage of. People will trade off you. They won't pay you. The number one rule of doing business in China is this; never trust a Chinaman. Why would you as a foreigner trust a Chinese businessman when we as Chinese don't trust each other?" Now that advice is pretty close to the bone. But I've said it before in Penny Sleuth you have to be very careful when you invest in a Chinese company. The record of AIM-listed Chinese companies is simply awful. And with so many still coming to market, there is a real chance that many private investors will end up making some very expensive mistakes... |
Posted at 01/10/2012 00:08 by acta_topup As I was saying(!):Could More Lithium Mining Stocks Benefit From Merger Mania? By The Energy Report | Commodities | Sep 05, 2012 08:04AM GMT Rockwood Holdings' deal with Talison Lithium means more consolidation in an already tight market. With demand on the rise and supply lagging behind, lithium juniors and their partners are jockeying for market share. Analyst Jonathan Lee dissects the deal's implications in this exclusive interview with The Energy Report and champions both low-cost producers and Argentinean plays in this growing industry. The Energy Report: What's been going on in the lithium business since your last interview in October? Jonathan Lee: Demand, which has enjoyed double-digit growth year over year (YOY), continues to outstrip supply. Higher growth from the battery sector has had many of the companies playing catch-up with their buyers. Talison Lithium Ltd. (TLH) completed its expansion in June. FMC Lithium Corp. (FMC) also expanded its facility early this year, but it has been having some weather-related delays, which have added further supply constraints. The lithium price increased roughly 1530% YOY. It's really been a very strong market for lithium suppliers since last October. TER: The big excitement is this just-announced takeover bid by Rockwood Holdings Inc. (ROC) for Talison. Of course, Talison is much bigger in the lithium business than Rockwood, which is a bigger company overall. What's the story behind that deal? JL: Over the past several quarters, Rockwood made a strategic decision to grow its lithium business. Although it has a smaller, higher-cost asset in Nevada, its low-cost-advantaged property is in Chile. Its options were to either expand its facility in Chile or acquire Talison, which is what it has decided to do. It is paying cash in an outright purchase, so the shareholders of Talison will not be able to gain any of the upside synergies. From a straight valuation point, it looks dilutive to Rockwood Holdings, but it does make logistical sense if Rockwood wants to expand its lithium business. Talison has a strong hold in China. TER: Unlike the mining or oil and gas industry, lithium has a limited number of players. What effect will this deal have on the industry in general and other players in it? JL: This deal consolidates the market into three major producers, rather than four. To a large extent, it shows the capital commitment for growth in the market. All the market participants agree they want long-term growth. There is capital flowing into this industry and we continue to believe that it's going to be strong in the near term. This is the second acquisition this year in the lithium industry. Galaxy Resources Ltd. (GXY) acquired Lithium One Inc. (LI) in March in an all-stock transaction. Whether or not we'll see more consolidation is unknown, but I think we'll see some of the industry players, especially buyers of lithium products, become more aware of the industry dynamics. TER: Is this a done deal or could other potential buyers enter the picture? JL: I think there are two strategic buyers that would potentially bid up for the project. One is FMC Lithium Corp., which is one of the four majors that produce lithium products. The other strategic investor would be a Chinese company like Tianqiu Lithium, which is a state-owned enterprise that currently sources 100% of its material from Talison. However, the Australian Foreign Acquisitions and Takeovers Act, which mandates a vetting process to make sure Australian assets are not sold to foreign entities, could make for some potential pushback against a Chinese company purchasing it. For FMC, with $75 million in cash at the end of Q2/12, we think it will be more difficult to come over the top with a larger offer. Another pushback that could impede the Rockwood/Talison deal is the antitrust issue. Prior to this acquisition, Talison owned around 35% of the lithium market. Chemetall had roughly about 20% of the market. Together, they would control over 55% of the marketplace. So that could put a potential kibosh on the whole deal. It really comes down to what the Federal Trade Commission, the Department of Justice and other regulatory bodies dictate is an antitrust issue and what it considers lithium products, because many of the products are sold into different marketplaces. The argument could be made that it's not a monopoly or that there are no antitrust issues. In short, it's not an entirely done deal. TER: How long could this get dragged out if everybody gets to put in their two cents? JL: As an example, the AT&T/Cingular acquisition took less than a year. It's pretty difficult to put a timeline on it. TER: If this goes through, it looks like it could be a nice payday for your clients and other people who got into Talison early. When did you first start recommending the stock? JL: I started recommending it in June 2011 around $4. Once it completed the expansion, you could see the earnings growth coming in sequential quarters and the share price was starting to reflect that. At $6.50/share, it's a big win for our investors. TER: Is this going to have much effect on the smaller players or do they have to get further along in the development process before people start taking shots at them? JL: It's still early to determine whether or not they would. Most are still exploration/developm TER: Let's talk about some of the other companies that you cover in the industry at this point. Bring us up to date on whichever ones you think are worthy of note. JL: We like Orocobre Ltd. (ORL, ORE) as a Speculative Buy with a $2.25 target price. The company has received all the permitting to go ahead with its project in Argentina from the expert committee. It is now attempting to get debt financing from Toyota Tsusho Group (TYHOF). This agreement is a step closer to putting in the capital infusion needed to move the project forward. A second project that's right next door with a very similar type of salar is Lithium Americas Corp. (LAC, LHMAF), which just completed its definitive feasibility study. We have a Speculative Buy on that company with a $2.20 target price. It received approval from the environmental agency in Jujuy Province. It's now waiting on the expert committee for project environmental approval. It also has two strategic investors in Magna Resources Ltd. (MNA) and Mitsubishi Corp. (MSBSHY). Those two projects are the farthest along. I think you'll see a commitment made from at least some of those joint venture partners in the near term, probably within the next six months. Given the Talison/Rockwood deal, I think it puts more pressure on the trading houses to move forward with their commitments to ensure that they are able to get a healthy supply of lithium products. TER: Is there any concern that Argentina's government may do something strange here? JL: I think that's the biggest risk in many of these salars in Argentina. It has the potential to be a low-cost producer, but there is a significant amount of economic and political risk in Argentina. Inflation is also fairly high in the country and there are import and export delays. There's also the short-term devaluation of the Argentine peso to consider. Country risk remains the biggest problem with Argentinean projects. Yet we believe that most of the salars will be the low-cost producers going forward. Even though they are in Argentina, we think those are the best-in-breed assets around the world outside of the four existing, major producing assets. I think they can overcome political risk. TER: You've discussed Rodinia Lithium Inc. (RM, RDNAF) in the past. What's going on with that company? JL: Rodinia has a small salar in Argentina and is very cheap. It does have a joint venture with Shanshan Tech Co. Ltd., which is a battery manufacturer in China. Talison currently sells a lot of its materials to Tianqiu Lithium, which converts the lithium product that Talison sells into lithium carbonate for batteries. Shanshan is most likely a buyer of that material. If the Talison deal gets approved, it'll be interesting to see how the operation is run under Rockwood and if it keeps the same customer base under the same terms and relationships, because Tianqiu Lithium does source well over 90% of its material from Talison. I think it's imperative that the relationship stands pat, or somebody like Rodinia may benefit, given Shanshan's relationship with Tianqiu Lithium and, subsequently, Talison. TER: Rodinia is fairly cheap. Is there any chance somebody is going to take a shot at it, or do most of the other people have enough to handle already? JL: Most of these companies, especially on the junior exploration or development side, are finding that capital doesn't come cheap in these markets. This has been the biggest hindrance to project development, as it has been for many other mining projects on the Toronto Stock Exchange. Stocks are depressed and if anything were to be done, it would be on a share swap, which doesn't really move projects forward. Capital costs are also rising, which is probably the biggest risk besides political and country risk. TER: It's pretty frustrating to see that the cost of debt capital is virtually nothing these days, and yet companies can't get money. JL: That's true, but in the mining industry as well as in other industries, we've seen significant cost overruns on many mining projects over the past year. That's creating some pushback from many of the debt facilities that would come to the market. TER: Are there any other stories that you'd like to talk about at this point? JL: I really think the Argentinean story is the place to be. There are near-term producers in Galaxy Resources Ltd. and Rodinia Lithium Inc. that should potentially be in production by Q1/13. Both have completed their financing, and Galaxy is producing. Canada Lithium is supposed to be commissioning in Q4/12 or Q1/13, which would be welcome news to have another supplier. TER: Where is the market headed, and what should investors be looking at if they're really interested in lithium? JL: I think there is significant opportunity in the space. As I mentioned earlier, we've seen double-digit growth in the past year on a price and volume basis. Demand continues to be strong and we fully believe that will continue. We think it really comes down to costs. Low-cost producers have a major advantage, because if there are any downturns in the space, you want to be on the lower end of the curve. Most of the best assets are already taken by Talison, Rockwood and FMC, so the next player needs to be cost competitive. TER: How are lithium prices expected to behave in the short term? JL: Very well. Talison raised its prices in December 2011 and again in July 2012. FMC and Chemetall did the same in mid-2011, then at the end of the year and again in the middle of 2012. All of the companies have announced price increases on many of their lithium products. That's a big indication that demand is outstripping supply, above and beyond what these companies had forecasted. There's a big lag in expansion so this price environment should persist for the time being. TER: We'll just have to stay tuned and see how things shake out. Thanks for speaking with us today, Jonathan. JL: Thank you. Jonathan Lee is a battery materials and technologies analyst with Byron Capital Markets in Toronto. As a member of Byron's research department, Lee's primary focus is on the battery materials sectors, which includes lithium, vanadium and cobalt. |
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