Palmaris Capital Share Discussion Threads

[bcf200] 18/11/2004 16:42

I think unless Scotland Mining has more than doubled in value in last year that price up with events. Persiverance at 37.5 cents = £9Mill approx. Scot Mining was valued at £10 Mill in last years accounts.

[skiski] 15/11/2004 14:15

Very strong today

[shearluc] 14/11/2004 17:06

Lol damn ! you're right

[shearluc] 12/11/2004 10:53

Just phoned Palmaris - results will be released to shareholders on the 20th November

[bcf200] 09/11/2004 17:34

Shares in Perseverance now valued at 38 Aus cents which is double price shown in last years accounts ( to 30.6.03.). This gives a value of about £10 Mill on this asset. With all other assets as well share price now seems to be up to date with valuations. Does anyone know when accounts due out - must be soon ?

[shearluc] 08/11/2004 08:08

Level 2: 3 v 1

[shearluc] 08/11/2004 07:55

well spotted! PMS is going to take off very soon!!

[phillis] 08/11/2004 04:15

Perseverance has had chart breakout

[shearluc] 03/11/2004 13:01

Snippet in The Times 29/10/04 - apparently a possible buyer sniffing around Mining Scotland. Interims due out 5/11

[bcf200] 25/10/2004 17:11

Still going up and at an all time high. There must be some good news around corner as not the type of share to be bought without some info.

[shearluc] 21/10/2004 11:07

Nice, up 12%, must be expecting good results beginning November?

[bcf200] 16/9/2004 21:27

Must be due for some news soon. Price ticking up nicely with a few decent share buys. Finals due end of Oct ?

[stevie blunder] 29/8/2004 08:55

From the Sunday Times:



August 29, 2004

Soaring oil price breathes life into Scots mines
Paul Lamarra




THE sharp rise in the price of oil is about to bring new prosperity to Scotland's coalmining communities.



The nation has an estimated 150m tons of easily accessible coal, but its mines fell victim to cheaper imported coal and the Thatcher government's policy of promoting natural gas.

However, with prices rising to £50 a ton Scottish Coal, Scotland's biggest producer, has decided to open and extend opencast mines in east Ayrshire, south Lanarkshire, the Lothians and Fife.

Industry experts are even predicting that the price is reaching the point where many of Scotland's deep mines, which closed during the 1980s and 1990s, could again become profitable.

Planning applications have been submitted to extend the Broken Cross Muir opencast mine in south Lanarkshire, increasing production by 4.1 million tons, and to open a smaller mine near Douglas.

Plans have also been lodged for mines at Chesters Wood East, in Midlothian, that will employ 40 people; at Headless Cross in north Lanarkshire, where 50 people will be employed; and at Nettly Burn in Fife, where 45 people will be employed.

Permission has been secured for an extension to a mine near New Cumnock in east Ayrshire where 100 jobs will be maintained and an additional 1m tons extracted.

Dacre Purchase, development director at Scottish Coal, said: "Technological advances have made it much more cost effective to get at underground coal.

"You begin with an opencast mine, but as you restore the site you leave a tunnel down to the coal seam. You can then use sophisticated machinery to chase the seam as far as it goes - maybe for a mile or more.

"This is a much easier way to mine deep coal than sinking new shafts. It is known as drift mining."

Only a handful of pits remained after the 1986 miners' strike, employing 2,000 miners and producing 2m tons of coal per year. The industry now produces 6m tons per year, entirely from opencast mines, and employs 1,500 people.

Flooding closed Scotland's last deep mine, at Longannet in Fife, in 2002.

David Hamilton, Labour MP for Midlothian and a miner for 20 years, believes that even Longannet has a future.

"The Fife area still has massive reserves of coal and the flooding could be reversed," he said.

"We'll never get back to the heyday of 2,000 working at a pit but you will be talking about 200 or 300 people employed and earning high wages again. Because of new technology a workforce of 200 men is equivalent to 1,500 when I was in the pit."

Mining communities that would benefit most are those in the Ayrshire coalfield, where unemployment has remained high since the mid-1980s when deep mines were closed.

A new course being offered in mining plant maintenance at Kilmarnock college is the first sign that the industry is making a comeback. "There is a recruitment drive going on," said Purchase. "We need to get new blood and new skills into the industry."

Environmentalists are less happy about a return to coal power. Duncan McLaren, chief executive of Friends of the Earth Scotland, said: "Coal burning is a major source of climate-changing carbon dioxide pollution." Plans to increase extraction should be resisted until coal-fired power stations were far more efficient, he said.

[azalea] 22/8/2004 15:10

With the prices of oil and gas continuing to seriously affect the costs for electricity generating companies and end users, it would appear that coal could make a serious comeback for use in power stations. One snag might be EU restrictions on sulphur emissions: whether these can be relaxed, or, technically reduced is a leading question. It might end up being a question of 'needs must' if there are shortages in supply of gas due to lack of storage capacity. All in all, I believe that there is a realisation that PMS now has a number of interesting strings to it bow as it moves towards its results in November.

[azalea] 20/8/2004 21:58

An interesting rise today, was it simply on the back of a significant jump in the p.o.g.? If so, PMS could move a lot higher. It might also be a combination of two factors, p.o.g and Mining (Scotland)

[stevie blunder] 13/8/2004 21:21

Azalea,

the Blindwells project has been hanging fire for ages, the politicos are having trouble making up their mind. here is the Blindwells web site, where news should appear:



Here is some old comment from the Scotsman about the Blindwells site:



East Lothian has identified a former open cast mine at Blindwells as a site for a proposed new settlement of 1600 homes. It will need all the supporting infrastructure including roads, sewerage, utilities, telephony, landscaping and undoubtedly new shops, schools and other community facilities. Quite an undertaking, both in terms of finance and development.

"The best practice is to be open and give the public what it wants"




Housebuilders are expected to provide all these services and facilities out of the profit from the sales of the houses. Sadly, the sums just don't add up. Housebuilders are now releasing figures which show that land accounts for 25-50 per cent of the value of a modern house, compared to a figure of seven to 12 percent only ten years ago. With such an increase, the actual profit to be realised from each new home is highly unlikely to fund the type of services, facilities and infrastructure required in a new town built completely from scratch.

Given that Blindwells was for many years worked as an open cast mine, there are very obvious concerns about the state of the ground that would be taking these 1600 homes.

-----------------------------------------------------


So it does not have universal approval. however lets us hope that some news is in the offing, I still think Mining Scotland is undervalued.


steve

[azalea] 13/8/2004 17:11

Stevie

Many thanks for the insight. I must say, I thought that it already had planning permission for the 1600 houses 15 year project just outside of Edinburgh. Who I wonder is going to finance the project and has the expertise for such a large development. I believe PMS is worth staying with not only on its immediate prospects but on the basis that the two large holders might make a 'move' following this announcement.

[stevie blunder] 13/8/2004 08:04

From the Times:



Palmaris Capital, the mining finance vehicle that holds 23 per cent of Mining Scotland, rose 2¼p to 15¾p, helped by Wednesday's rally in UK Coal and talk that Mining Scotland is close to securing planning permission for some of its proposed housing projects.

[azalea] 12/8/2004 14:45

Well it has to be something like that and there are of course some very big stake holders, but no announcement from the company despite the 20%+ rise. This might be a good sign in that they are holding off in order to know exactly what the offer is. Ordinarily, the company is duty bound to declare any material information that affects its share price.

What also surprises me that investors are selling despite the share price rising against the tide of a sell/buy ratio of 5.5:1. Still, each to his/here own, for my part I'm holding on.

[alia] 12/8/2004 14:36

bid romours according too iii board

[foxster69] 12/8/2004 14:30

anyone any idea why this is moving up?? thanks

[azalea] 12/8/2004 12:16

The share price has jumped 12.96% this morning on trades (if the data is to be believed) where sells far outweighed buy on a volume of around 24k. The results are not scheduled until early November, so this movement is quite puzzling. That said it could well be the case that the MM know something that is in the pipeline!!

[stevie blunder] 02/7/2004 08:12

Scottish Coal results