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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gvm Metals | LSE:GVM | London | Ordinary Share | AU000000GVM1 | 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% | 72.81 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
26/9/2007 10:35 | More good news. This lot don't let the grass grow under their feet. Must try and get a few more into my ISA somehow. ACQUISITION OF FURTHER COAL INTERESTS IN SOUTH AFRICA GVM Metals Limited ("GVM" or the "Company"), the Australian mineral processing and coal mining company with assets in South Africa, is pleased to announce that it has executed a Heads of Agreement to acquire 60% of the issued capital of Tshikunda Mining (Proprietary) Limited ("Tshikunda"), a company owned by Basani Investments (Proprietary) Limited (60%), and Ndilo Resources (Proprietary) Limited - which owns the Tshikunda Coal Project, a 32,000 Ha property situated between the Company's Baobab project and Exxaro's Tshikondeni coking coal mine. Completion of both transactions will take GVM's interest in the Tshikunda Coal Project to 60%. The consideration payable to acquire Tshikunda is ZAR20 million (approximately A$3.5 million), subject to the following suspensive conditions: 1. obtaining the necessary approvals in terms of section 11 of the Mineral and Petroleum Resources Development ("MPRD") Bill of South Africa; 2. obtaining the requisite approvals of the South African Reserve Bank as are applicable; 3. obtaining any required approvals from the ASX. Tshikunda Coal Project The Tshikunda Coal Project consists of granted prospecting rights over 32,583 hectares in the Soutpansberg / Pafuri coalfields located within the Limpopo Province in the north of South Africa. The area to be acquired adjoins the Tshikondeni coal mine held by Exxaro Limited. The total area of the Tshikunda Coal Project is 32,583 Ha, bringing GVM's total interests in the Soutpansberg coalfields to approximately 55,000 Ha. The Company holds a further 8,000 Ha as part of its Thuli coal project. GVM have committed up to ZAR50 million (approximately A$8.5 million) to explore the prospect to a 'bankable' stage. Thereafter, the parties will contribute development or capital expenditure on a pro rata basis. GVM Managing Director Simon Farrell said that the acquisition was an important development in the Company's goal of becoming a major player in the development of the Limpopo coalfields: "Whilst very limited work has been undertaken on the area in the past, it is now widely considered to be highly prospective as a significant source of hard coking coal. What is particularly exciting is that both Rio Tinto and ourselves believe the rank of coals improve eastwards of their Chapudi and our Baobab projects and given that the value of coking coal is now roughly double that of thermal coal, the dependence of a proximate power station to get the project up and running starts to disappear." ENDS | drewz | |
11/9/2007 11:02 | Thanks for that suggestion Omelette. I'll take a look at GCM. | rupe1958 | |
11/9/2007 09:36 | Rupe1958 - You could buy GCM instead - much more risky - but they have a holding in this company. | omellete | |
10/9/2007 13:09 | Today's news looks positive, but I haven't been following this co. long, and my understanding of it is still rather shallow. Have a small position that I bought a few weeks ago, along with Churchill Mining, which has coal assets in Indonesia but is at an earlier stage than GVM and a smaller mcap. One of the attractions of junior coal seems to be that it's so less risky and so much less prone to political interference than junior O&G. Also looking at WTN (West Canadian Coal). 'Big Coal' - like Peabody - may also be a less risky buy than big oil, for the same reasons. | rupe1958 | |
24/8/2007 09:27 | just taken 25,000 shares at 38.5, there is at least 25,000 left at that price if anyone fancies a top up. | lonrho | |
24/8/2007 09:17 | One would hope so - with the spot price of coal at record highs and GVM moving closer to turning their huge coal assets into cash flow. | drewz | |
24/8/2007 08:52 | Morning gang, Nice to see another +ve start today. | devere | |
23/8/2007 16:06 | 500k B trade and other big ones showing at 38p Buys or Sells ??? | devere | |
23/8/2007 09:15 | This seems to me that we've finally turning the corner Current online trading limits : Buy 10k @ 40.0p Sell 25k @ 37.5p Much more balanced than I've seen lately | devere | |
15/8/2007 10:17 | How wrong I was. | drewz | |
27/7/2007 15:48 | Wazza is somewhat aggrieved because I suggested they were unwise to keep holding IVK as it fell off a cliff and kept falling as the nickel price fell away. So the above is his little retaliation. Fortunately the price of coal is going up, so I don't expect GVM to emulate IVK's plummet. | drewz | |
27/7/2007 15:38 | Looks to have doubled since start of the year,wish i could ride more of these down. | lonrho | |
27/7/2007 15:21 | Are you still all riding this one down drewz? Goodness me. | wazza208 | |
27/7/2007 15:09 | What's this? Knife Catchers Anonymous Club? Might I suggest a new club policy? Sell falling shares and buy rising ones. You know it makes sense. | wazza208 | |
27/7/2007 15:06 | Very much so. Dear old Hatti is an impatient soul, however. | drewz | |
26/7/2007 17:03 | Weak market, illiquid stock = people panic Long term still a good story | daviddunne82 | |
26/7/2007 12:14 | Ahhh! It dies again! This is on it's final warning! | hattori_hanzo | |
19/7/2007 09:18 | Ahhh! It lives! EDIT: someone is keen, 25k buy at 2p over offer went through at 8.52am. | hattori_hanzo | |
19/7/2007 09:16 | quite a lot of buying this morning , good timing seagreen | gardenboy | |
19/7/2007 09:16 | well played the whenger man there is no stock in london hence the price move | seagreen | |
19/7/2007 08:15 | opened a position in GVM. | thenry2468 | |
18/7/2007 11:09 | Spot prices of coal are up 50% over the past year and still trending higher. GVM's substantial coal assets are going up up up in value. | drewz | |
18/7/2007 11:07 | Bought back in again yesterday. Nice to see this rising today. | samplerboy | |
17/7/2007 08:27 | gone long again at 44p ish | seagreen | |
14/6/2007 20:23 | drewz, cheers Mirabaud Report - valuation 103p Mirabaud Report June 07 - valuation 103p | gardenboy |
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