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Real-Time news about Eastern Plat (London Stock Exchange): 0 recent articles
|leedskier: It has US$87 million in cash.
If the deal closes it will have US$300 million and no liabilities.
There are only 92.64 million shares in issue. Clearly its present market cap (even after doubling on Friday) of CAD$85.79 million is on the light side, and I trust in due course the share price will move up.
If it can leverage that large sum buying assets at the bottom of the market (at least I hope it is the bottom), there could be a remarkable turn around here.|
|4sta: Nice pick up in volume and rising share price in Canada recently. The small cap miners over there have had a relatively good couple of weeks, let's hope it continues and follows through onto AIM miners.
Think the Canadian line of this went up 10% on Friday, to about 5.75p in Sterling terms, so hopefully this will rise Morning too, in line.
This was once (may still be) Canada's largest PGM (platinum group metal) producer.
Listed on AIM, TSX and possibly JSE.
According to latest report still has over C$85m of cash and equivalents (liquid and held in Canada), against current mkcap of circa £40m.
Over 80 Moz's of PGM's in its 4 properties (you do the calculations @ USD$1430/ounce roughly). Keep in mind we think gold resources of only 5 moz's are v.large!!
Share price has been over 100p in past, now about 4.5p, with no dilution during this period that I am aware of.
Shallow platinum properties (from memory).
Has been reporting huge losses, but large chunk of that is impairment charges - non cash item(which most majors have been reporting with reduction in metal prices, e g precious metal prices).
Good platinum prospects according to industry veterans such as robert friedland (at ivanhoe mines).
ELR's operations are mostly suspended at the moment pending further recovery in Platinum price, labour relations resolution, favourable rand/dollar exchange rates.
Share is highly illiquid, so will likely move quickly when it does.
Do your own thorough research before trading - this is just meant to be a brief overview for any newbies here.
source of above: Company website and most recent interim/final statements.|
|4sta: This was once (may still be) Canada's largest PGM producer.
Listed on AIM, TSX, JSE.
In most recent report - still has over C$100m of cash and equivalents, against current mkcap of circa £45m.
Over 80 Moz's of PGM's in its 4 properties (you do the calculations @ USD$1530/ounce roughly currently).
Share price has been over 100p in past, now about 4.75p, with no dilution during this period that I am aware of.
Shallow properties (from memory).
Has just reported huge losses, but large chunk of that is impairment charges - non cash item(which most majors have been reporting with reduction in metal prices, e g precious metal prices). These can later be re-valued back up using certain accounting conventions.
Operations mostly suspended at the moment pending further recovery in Platinum price.
Share is highly illiquid, so will likely move quickly when it does.
Messages such as RIP (serge) therefore may just be a little premature here, take a closer look!!!
Do your own thorough research before trading.
source of above: Company website and most recent interim/final statement.|
|fegga: now into 5th week of increasing share price - any ideas as to why? volume there too.|
|utterberk: Isn't the lawsuit a zero sum game if you're a holder? If the lawsuit proceeds, the share price takes a dump; and whatever damages you get, if you win, will be taken out of the company you own.|
|naithani: Share price will jump after industrial dispute is solved which is most likely going to be. I will presume within a month and share price will go north afterwards. It does not need rocket science not to invest here.|
|melody9999: Yeah - the bid is just an added bonus - but that only means that another company also values ELR highly enough to buy it. On the other hand, in the long term we would probably make more money from our investments without a bid.
The bid rumours also caused a spike in the share price - and some short termers are now moving on. But production is increasing alongside the price of platinum. IMV there is a large upside potential in the share price which will be realised if these factors do not change.|
|doobydave: From yesterday:
Eastern Platinum Offer Update
FOR: EASTERN PLATINUM LIMITEDTSX, AIM SYMBOL: ELR
March 1, 2007 Eastplats to Increase Interest in Barplats to 74% Through an Offer to Minority Barplats ShareholdersVANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 1, 2007) -
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")(TSX:ELR)(AIM:ELR), is pleased to report on the proposed acquisition of minority shareholdings in Barplats Investments Limited ("Barplats"). Eastplats has submitted to the board of directors of Barplats a notice of its firm intention to acquire all the shares in the issued ordinary share capital of Barplats other than those already indirectly held by Eastplats through its wholly owned subsidiaries, and its BEE partner Gubevu Consortium Investment Holdings (Proprietary) Limited.
The consideration payable in terms of the offer will be 0.98 of an Eastplats' common share and 70 South African cents for every one Barplats share held. On this basis, the total cash consideration amounts to ZAR10,797,471 in cash (Cdn$1,759,125) and 15,118,699 Eastplats common shares. The scheme consideration represents a premium of 48% to the 30-day volume weighted average Barplats share price of R7.96, and a premium of 56.3% to the 60-day volume weighted average Barplats share price of R7.54 up to and including February 28, 2007.
The offer to be proposed by Eastplats will be implemented by way of a scheme of arrangement envisaged to complete on May 18th, 2007. Completion of the acquisition is subject to the passage of a resolution by the minority shareholders approving the scheme. In order to pass, the resolution must be approved by a simple majority of the minority shareholders represented at the meeting. Should the scheme be implemented, Eastplats will acquire all of the scheme members' issued shares being 15,424,959 Barplats shares, or approximately 5.0% of Barplats' shares, and Barplats' listing on the JSE Limited ("JSE") will be terminated. Simultaneous to the termination, Eastplats will list all of its issued common shares on the JSE. The Eastplats common shares are already listed on the Toronto Stock Exchange ("TSX") and the Alternative Investment Market ("AIM") in London. Should the scheme be implemented, the indirect and direct interest held in Barplats by Eastplats would increase to approximately 74%. The Company is confident that the Barplats minority shareholders will vote in favour of the scheme given the very low liquidity and tradability of Barplats shares. Also, the scheme presents an opportunity for scheme members to participate in the future growth of Eastplats through receipt of Eastplats shares. Eastplats is well positioned to finance Barplats' production and expansion plans, already demonstrated by its considerable investment in Barplats' operations at CRM. Also the scheme, if implemented, should enable Barplats to realize value from its KV project in a timely and efficient manner, being developed in part through the proposed mine at the adjacent Spitzkop property by Eastplats.
"The BPL shareholders are being offered a significant premium for their shares at a time when the risks associated with their investment in Barplats have been largely mitigated through Eastplats' financing of the mine operations and expansions at Crocodile River," stated Ian Rozier.
"This offer is attractive, providing a premium to market and substantial liquidity and tradability for these shareholders, something they have not enjoyed in the past. The offer follows a period of lengthy negotiations with the South African regulatory authorities and our B.E.E. partners, and we are pleased with the cooperation and support that we have received," he stated.|
|doobydave: Hi Rambutan,
I decided to take up your challenge re. Sylvania.
153m shares in issue valuing SLV at £52m at 34p share price. My thoughts are that ELR doesn't have sufficient in the bank to make a cash bid, but some sort of merger / share swap is possible. Reading SLV's last quarterly, I notice mention of a third party with whom negotiations re a 3rd PRP plant were ongoing. This could easily be a red herrring but worth noting.
At Everest North, the inferred resource is a beggarly 0.8m oz - tiny in Bushveld terms. Worth no more than $4.8m at Aflats prices - call it £2.5m. However, there's an awful lot more PGM than that, you can stake your house on it.
I've no firm basis for valuing the CWP chromite at Milsell. At Everest North (contig w Mareesburg), the Chromite Tailings Retreatment Project (25% interest) looks like it is netting them $571K per quarter at a very early stage. Respectable cashflow is being generated and more is likely.
The fact of current cashflow generation has given me pause and I wonder anew if SLV is the target in Eastplat's sights. It could fit.
|doobydave: Lonmin having to rebuild a smelter at Marikana - rather overdone 5% drop in their share price as a result (see here).
Happily ELR's offtake smelter deal is with IRS (Implats).
Eastern Plat share price data is direct from the London Stock Exchange