Petmin Share Discussion Threads

[m4m] 28/12/2006 18:01

cheers max

buy the dip when profit taking breaks out ?

[maxk] 28/12/2006 17:57

It was tipped by UK-Analist earlier today, missed it as usual :-(

[m4m] 28/12/2006 17:51

bulldog - where was it tipped ?

[m4m] 28/12/2006 17:50

Excellenty and nice one mike ;)

Tho I'm wary of blooody rockets.

Another one I'm still in was on its way to the moon when it promptly reversed and halved in value tho 6 mths later and it turned around. It's now on the verge of breaking out to all time highs so I tend to take a longer term view.

[stegrego] 28/12/2006 13:26

Hmmm getting wayyyyyyyyyyy ahead of the JSE price now - not a good sign IMO

1.42 ZAR = 0.102846 GBP

[895bulldog] 28/12/2006 12:54

tip certainly helping !!

[mikehardman] 28/12/2006 10:51

long 12.5p; better late than never

[m4m] 21/12/2006 14:45

going down on JSE but holding gains on AIM albeit now only 4.5% up


Interview with COO prior to listing

[m4m] 21/12/2006 10:41

Mike - I'll try not to clutter it too much and as the charts increase I'll put them in scrolls bars etcAye a 16% spread is not for widows or orphans paperAgreed about the m/ment. Petmin Ltd Short Name:PETMINJSE Code:PET Sector:Reg No:1972/001062/06 Founded:01/01/1978Listed:01/01/1986Nature of business:Petmin Ltd, previously Petra Mining Ltd, is a South African-based, JSE-listed minerals, mining and processing company which services the metallurgical and industrial sectors. Next AGM: 31/01/2007 (Unconfirmed)General Information:Chairman:Pieter J NelCompany Secretary:River Sponsors (Pty) LtdE-mail Address:Postal Address:PO Box 899, Groenkloof, 0027Internet Address:Telephone:[phone]Fax:[phone]Financial Information:Amounts in ZAR '000JUN 2006FinalDEC 2005InterimIncome Statement Working Revenue 176 67657 661Working Profit 56 97640 858Income Attributable To Equity Holders 48 60038 999 Earnings Per Share (ZARc) per share (cents)16.3817.64Headline Earings Per Share (ZARc) per share (cents)4.982.34 ;Balance Sheet Ordinary Shareholders' Interest 360 466265 073Long-Term Liabilities 27 93771 039  Total Capital Employed 442 898377 405  Mining Assets 349 775295 065Other Current Assets 386-Net Current Assets 77 12667 333 Net Asset Value Per Share (ZARc) (cents)81.9476.05

[paperking] 21/12/2006 10:29

This share has a great deal in the price on the JSE today it is trading at the equivelent of 10.58p/ 10.8p (1.45sar/1.48) up .03 with a p/e ratio of 29.15.
Apart from the obvious rediculous spread on AIM the shares on JSE have hardly reacted to the placing at a 10% discount on the then price. This seems to be a well managed company so I'll wait till the price drops or buy on the JSE.

[mikehardman] 21/12/2006 10:29

thnx 4 the thread, m4m;
looks rather promising;
initial trades and share price reaction OK, too

[m4m] 21/12/2006 09:54

Good start to the day as up nearly 7%

Petmin starts well on AIM
Date: Wednesday 20 Dec 2006

LONDON (ShareCast) - South Africa-based minerals, mining and processing company Petmin joined AIM Wednesday, enjoying quick gains as jumped to 11p from its 9p placing price.

The Johannesburg-listed multi-asset company with profitable specialist coal and silica assets in South Africa bagged £3.6m from a placing of 40m shares, valuing the group at £43.2m.

"Admission to AIM represents a further step by the company in its long-term strategy of becoming an international multi-commodity minerals business," it said.

The fresh cash will help pay for a comprehensive drilling programme at its Somkhele anthracite colliery in KwaZulu-Natal province, to move resources to proven reserves and extend the life of mine beyond 25 years.

In addition, money will go towards the acquisition of additional Richards Bay coal terminal allocation to support the planned growth in Petmin's anthracite exports.



December 2006 Interim estimated to be released on Wednesday, 28 February 2007

Next AGM date: Wednesday, 31 January 2007

[m4m] 21/12/2006 09:00

Petmin raises R50m ahead of AIM debut
20 December 2006

Author: Charlotte Mathews
ANTHRACITE and silica producer Petmin said yesterday it had raised about R50,4m before expenses by placing shares ahead of its London's Alternative Investment Market (AIM) listing today.

Petmin has been listed on the JSE since 1986, but changed its business from granite to gold in the 1990s and to silica and anthracite mining last year.

Since the beginning of last year its share price almost trebled to 145c from 50c. The company placed 40-million shares ahead of its debut on AIM at 126c, or 9p, each, which represents a 9% increase in its issued shares.

Apart from the funds raised in London, Petmin will get about R35m from the sale of its stake in the Baobab joint venture to GVM Metals, announced last week.

The reason for seeking a quotation on AIM was to enable it to access a wider range of opportunities and sources of capital with the intention of becoming an international multicommodity business, it said.

Petmin would use the funds raised in London to undertake a comprehensive drilling programme at its Somkhele anthra-cite mine near Richards Bay to improve the definition of the resource and extend the life of the mine beyond the current 25 years. It would also apply for an additional export allocation at the Richards Bay Coal Terminal, where it now has an allocation of 235 000 tons a year, establish logistics and distribution channels for Somkhele and the Springlake Colliery near Dundee, upgrade plant at its SamQuarz silica operation, finance new projects and acquisitions, and supplement general working capital. According to the group's latest annual report, it has budgeted R75m for capital projects in the current financial year, of which R60m would be on Somkhele.

At the end of June it held R32m in banking facilities and R70m in cash, and had negotiated a R40m asset-based finance facility for the coal preparation plant at Somkhele.

Petmin's assets, which are SamQuarz, Springlake Colliery and the Somkhele anthracite project, is estimated to be worth altogether R869m against its market capitalisation of R604,7m based on the placing price.