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Real-Time news about Sthn.African (London Stock Exchange): 0 recent articles
|richgit: Date: February 23, 2005
Capricorn Resources Celebrates Its Second Birthday, But Still Has No Assets.
Minews hates to rain on anyone's parade, so is suggesting very tactfully that the bulletin board cowboys, who have got so hyped up over White Nile, should take a quiet look at Capricorn Resources. This is another from the excellent stable of Mr Phil Edmonds which listed almost exactly two years ago. And it still has not an asset to its name.
When it listed in February 2003 the panting punters were told that it was pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa. A deal could be expected in the fairly near future was the gist of the release.
A year later in February 2004, after the share price had gone through some amazing gyrations, another release appeared. This kicked off with the sentence, "As a result of recent interest in the company and the subsequent rise in the share price, the board wishes to announce that it is pursuing a number of resource based opportunities in the area north of the Tropic of Capricorn in Africa.(Haven't I heard that somewhere before? Ed).
Phil Edmonds then went on to say "Due to our growing reputation within the region, we are being introduced to a range of projects that we are in the process of evaluating. Our aim, as stated in the admission document, is to locate resource based opportunities and mining projects, with an emphasis on countries including Angola, the Congo, Mozambique and Zambia. As a result of our research, we have identified some exciting opportunities that we feel fulfil our investment criteria, which we hope to be able to announce on in the not too distant future."
The English is a bit mangled, but the erstwhile spin bowler hails from Zimbabwe. The intention is there for all to see, but another year has passed and another press release appeared on February 7th 2005. "The company notes the recent increase in its share price. The company is in discussions that may or may not lead to an acquisition that would constitute a substantial and a related party transaction, but not a reverse transaction under the AIM Rules. A further announcement will be made in due course."
Don't hold your breath, but note the reference to a related party transaction. Maybe this is meant to indicate a game of pass-the-parcel around the Edmonds stable which also includes Southern African Resources, Central African Mining and Central African Gold.
The announcement duly stimulated a rise in the share price to 7p where it ran into sellers and fell by over 20 per cent today. Were the sellers shorting the stock, or were they some of the founding shareholders who must now be well clear of any hold period? Perhaps we should be told.
Two years of doing nothing except having the odd placement when the share price came to life intermittently on the back of rumours must be an ideal life style for comp any directors. But even Bruce Rowan got bored with it last summer and resigned to get on with his other interests such as Tiger Resource Finance. He had provided funding for our Phil's earlier ventures and is now spitting blood as he was left out of White Nile when best friends took shares at 0.1p each.
Never mind Bruce. You could find they are the best shares you never had.|
|thunders: Here is a reason why they sold it on 10th Nov for 28p--Institute wanted to buy in mln and only we they can get is ask one of the director to sell . Now they can not sell for one year unless it goes to 100p.
Concurrent with the management changes, on 10th November 2004 Phil Edmonds,
Andrew Groves, and two other shareholders - Brian Moritz and Bruce Rowan -
agreed to release some of their equity to meet growing demand from institutional
investors that was not satisfied in the Company's recent capital raisings.
Directors Phil Edmonds and Andrew Groves, who have each exercised 1 million
warrants, each sold 5 million shares. These shareholders have agreed in writing
to the Company, to make no further share disposals for the next 12 months or
until the share price reaches 100p a share. Non-Executive Director Brian Moritz
sold 178,571 shares and founding investor and former director Bruce Rowan sold a
further 4 million shares. The share sales, all of which were at 28 pence per
share were as follows:|
|thunders: No one doing any research so I will do cut and past from old RNS.
These shareholders have agreed in writing
to the Company, to make no further share disposals for the next 12 months or
until the share price reaches 100p a share.
|bodeng: With the news from Botswana shouldn't we expect a higher share price?|
|looneytune: Great news, share price up 14% then back down again......|
|ppowerscourt: Wakey, wakey!
Today's announcement by CLU on her huge discovery and the harrier jump-jet movement of CLU's long suffering share price is worth a look.
I think this bodes well for SFU's prospect too. Even if SFR has some degree of inherent risk, the CLU discovery acts as a positive boost. PGM is embedded in S.Africa more than anywhere else in the world, for sure!
Your thoughts will be appreciated!|
|m.t.glass: Share price has more than doubled already this year (115% up now) after climbing a whopping 570% in the previous year (almost all in the second half).|
|apeters1: Southern African Resources 4th March 2004
Edmonds hires ex-Zimplats boss
Roy Pitchford, redoubtable former boss of Zimbabwe Platinum, is moving to become chief executive of Phil Edmonds' Southern African Resources in order to develop the company's existing platinum group metals (PGMs) projects and to find worthwhile new ones. Robert Tyerman reports.
AIM high flier Southern African has been concentrating on Leeuwkop in South Africa's Bushveld, where the Snowden consulting group has suggested potential resources of 56 million oz of PGMs. In the autumn, the company raised £1 million at 2p through broker Canaccord and £400,000 at 4p from the family of Thomas Kaplan of American-quoted Apex Silver Mines.
Pitchford, who successfully steered Zimplats through the troubled environment of Zimbabwe to a 300 million-oz company, has been without a challenging role since the much larger Impala Platinum bought the company last year. He says his move to Southern African 'is an exciting opportunity for me to develop new platinum exploration and mining operations that have great upside potential.
'I feel that Southern African is a fledgling company that has demonstrated its ability to locate good projects as well as secure access to capital.' Edmonds, Southern African's chairman, says Pitchford has 'not only the technical expertise to lead the development of our existing projects but also the corporate know-how, ability and contacts to expand the company and its portfolio.'
To welcome its new chief executive, Southern African has supplied Pitchford with ten million 'in-the-money' options at 19p, against today's share price of 31.75p. That compares with 5.25p when Growth Company Investor highlighted them in September.
Partial profit-taking would be prudent. But, in today's market, the shares should have significant more mileage yet.|
|thecynical1: wdurham.....just wondering whether you have position in or an opinion on the following....CFM? TIR? if you have been around this for a while...could you please explain to me the exact relationship between CFM and SFU? do CFM have 10 million shares in this or is it more ? tks for your assistance.
TIR looks to me to be undervalued...NAV 3p as of 31.12.03...present share price around 2p....real NAV as of now...must be closer to 3.5+ p .....any comment?|
I dont think you are being naiive at all - there are many people who share the view that these shares have a lot further to go and that further positive announcements will see significant appreciation in the share price. The fact that they have moved so swiftly to present levels (on the back of very little information) may well result in some significant volatility in the short-term.|
Sthn.African share price data is direct from the London Stock Exchange