Chromex Share Discussion Threads

[sailing john] 10/10/2011 08:13

Off topic
Shareinfo not loading
Problem reported - hopefully back soon
SJ

[valirx] 18/7/2011 08:32

sailing john

ferrex listed today

[sailing john] 22/1/2011 16:33

Thanks PL
They appear to be a private comapny at the moment?

[sitiain] 23/12/2010 10:27

good luck to all...
merry xmas

[sailing john] 22/12/2010 08:37

Selftrade have now credited my account.
GL with your future investments
I have a note to look at Ruukki in 2 years time when they are about to commission smelters/power plant. Still think they have got a bargain - I guess it will all depend on FeCr prices over the next 10-20 years.
SJ

[sailing john] 21/12/2010 19:40

Selftrade posted notification this afternoon that funds will be "credited shortly" whatever that means?
This week hopefully
SJ

[p bear] 21/12/2010 19:03

Does anyone know when we get paid?

[sailing john] 17/11/2010 11:50

Ruukki Group Plc is pleased to announce that all the resolutions proposed at today's Extraordinary General Meeting were passed.

The arrangements between the Company, Kermas Limited and Synergy Africa Limited relating to the formation and financing of the acquisition vehicle Synergy Africa Limited and the acquisition and subsequent holding of shares in Chromex Mining plc as detailed in the circular dated 22 October 2010 (the "Circular"), the Joint Venture Agreement, the Shareholder Loan Facilities and the Kermas RHL Loan Facility (as defined in the Circular) were all approved. The Board of Directors was also authorised to take all the necessary steps to implement the transactions.

The Offer and the Warrant Offer (as defined in the Offer Document), remain subject to the terms and the conditions set out or referred to in the offer document (the "Offer Document") posted to shareholders of Chromex Mining plc on 18 October 2010. As set out in Ruukki's announcement on 9 November 2010, the Offer and the Warrant Offer will remain open for acceptance until 1.00 p.m. on 29 November 2010 (the "Second Closing Date").

[sailing john] 01/11/2010 21:07

I have accepted the offer today - so it is for me
Deadline for my two nominee accounts is today/tomorrow
Left until the last day but no sign of a counter bid so have accepted the 36.5p
If you intend to accept I suggest you check the deadlines for your nominee account as most appear to be 1st/2nd November.
If you don't intend to accept I suggest you read the offer document carefully so that you understand the implications.
As always DYOR
SJ

[64bit] 01/11/2010 20:44

still holding.. no volume.. 35.7p bid for size today.. is it over yet? ;)

[sailing john] 20/10/2010 10:26

Looks like Xtrata are another major investing in SA FeCr. Does suggest that demand is expected to increase significantly. I see from the press release below that they are investing $100m in their chromite mines.
And how much are Ruukki paying for Chromex's 1mT/annum RoM assets ........... circa $55m
Hmmm.......

Johannesburg, 20 October 2010
Xstrata plc ("Xstrata") has approved the development of the second phase of its Lion ferrochrome complex expansion in South Africa. The expansion will involve the construction and commissioning of a 360,000 tonne per annum capacity smelter and will increase the Xstrata-Merafe chrome venture's ("the Venture") total ferrochrome capacity to over 2.3 million tonnes per annum. The project has met all of Xstrata's key value and risk metrics for some three years since it was first considered. However, the absence of security of supply of electricity resulted in the project's approval being held in abeyance until a firm allocation of capacity was received by Eskom for the second phase of the Lion complex. In addition, emerging plans within Xstrata Alloys for an "own generation" capability further reduces Xstrata's concerns on the availability of electricity by the time this plant is commissioned.

The development will entail a total capital investment of R4.9 billion (US$710 million) and includes R700 million (US$100 million) for the concurrent development of the 1.2 million ROM tonne per annum Magareng mine within the Thorncliffe mine complex. Construction is scheduled to begin in the first quarter of 2011, with commissioning planned for the first half of 2013. The expansion will create over 1,000 permanent jobs and a further 1,800 jobs will be generated during the construction phase. Around 80% of the total expenditure on project goods and services will be sourced locally.

[sailing john] 19/10/2010 13:32

Offer document posted today
Deadline for acceptances 1pm - 8 Nov but likely to be earlier in nominee accounts
Very short period - I wonder why!
Time to make a move Mr Nerurkar or anyone else who wants a bargain. I've not given up on you yet!
Bet there will be some chatter at the World Chromium Forum in China on Thursday/Friday this week.
SJ

[sailing john] 12/10/2010 11:35

Interesting and current presentation from Merafe Oct 10 available via this link

Interesting slides
Slide36 - Barriers to entry including "Shortage of available quality ore reserves"
Slide 43 - Indian companies moving out of India eg Tata to South Africa
Slide 44 - Global ore demand vs supply shortfall from 2012

[sailing john] 10/10/2010 20:37

36.5p is not enough for me

SJ

[64bit] 08/10/2010 17:07

well, i'm still here. even without a counter offer the 1.25p between current
bid and the ruukki offer is worth the wait..

[sailing john] 08/10/2010 16:24

Press reports that ore supplies currently tight. - But you can buy 40mT for a miserly £1/tonne! Come on Mr Nerurkar - don't you read this thread?!

[p bear] 05/10/2010 08:13

From trade press:

Ruukki announced a cash takeover offer for Chromex
(Ryan' s Notes, Sept. 20, p2) by a newly formed subsidiary,
Synergy Africa, a company 51% and 49% owned by Kermas
Ltd. The offer values Chromex at approximately £37-million
and represents a premium of 82.5% to the closing price of 20
pence per Chromex share on July 14.
Commenting on the offer, Alwyn Smit, CEO of Ruukki,
said: "The acquisition of Chromex is a logical transaction as
it achieves all three of our strategic objectives; it completes
the vertical integration of our South African business, it
increases our production capacity and it expands our market
share. By acquiring an accessible, sizeable resource base and
a producing mine at Stellite, we are consolidating our pres-
ence in one of the world's premier chromite mining regions,
adding immediate value to our existing operations and lay-
ing the foundations for future growth. Looking ahead to the
medium term, Chromex provides a critical building block for
our processing growth plans, particularly the construction of
two 70-MW DC furnaces, which will have a planned com-
bined annual capacity of up to 280,000 mt, and we will be
examining the opportunity for building these DC furnaces at
Stellite."
Ruukki's major South African chrome asset, Mogale, lacks
a secure source of feed and wanted to increase its use of UG2
to make up for a lack of lumpy material.

[sailing john] 04/10/2010 18:01

I'm guessing that Synergy are taking everything on offer at 35-35.5 as expected. Looks like they have taken 3-4% so far unless it is someone else.
Anyway just wanted to say - you had better get a move on Mr Nerurkar!
SJ

[bo doodak] 30/9/2010 17:12

Not much to get excited about

[bonsoir7] 30/9/2010 13:51

agree with your thoughts, great homework, thanks for sharing