Date | Subject | Author | Discuss |
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18/1/2006 08:11 | Not a good deal for share holders!! |  regalrealm114 | |
18/1/2006 08:11 | HyperAl,
The currency calculator (in the header) gives the correct result.
There's something in the offer RNS about it being open only to 'Qualified Investors', and not being within the remit of the Takeover Code. I must admit to being puzzled by that.
Maybe here comes the 'poison pill' from last year? This, the "Shareholder Rights Plan":
http://www.companyannouncements.net/cgi-bin/articles/200512010700409515U.html |  jonwig | |
18/1/2006 08:06 | very strange, maybe we have a mixup with the exchange rate |  hyper al | |
18/1/2006 07:52 | What's this? - a takeover bid? At 108p? Is it April 1st already?
First Quantum Minerals Ltd. ('First Quantum', TSX Symbol 'FM', LSE Symbol 'FQM')
announced today that it will make a share exchange take-over bid (the 'Offer')
to acquire all of the outstanding common shares of Adastra Minerals Inc.
('Adastra' TSX:AAA; AIM:AAA) at an implied offer price of approximately $2.23
(£1.08) per share ...
(Full RNS in header.) |  jonwig | |
16/1/2006 16:47 | Adastra Minerals Inc ('the Company') announces that it was notified on 6 January
2006, in accordance with Part VI of the Companies Act 1985 (as amended) (the
'Act'), that Prudential plc and certain of its subsidiary companies have a
notifiable interest in 11,109,400 common shares of no par value in the Company
(the 'Shares'). The Shares represent approximately 14.39 per cent. of the
Company's issued share capital.
The change results from the private placement of 6,000,000 common shares of no
par value in the Company, the completion of which was announced on 23 December
2005.
According to an RNS on 10/03/04, they were the largest holder; they increased their holding to 10,609,400 shares on 13/08/04; this is now 500,000 more. |  jonwig | |
13/1/2006 08:49 | The date has been set for the first democratic elections in the Democratic Republic of Congo for more than four decades.
The Congolese Government has set April 29 as the date for parliamentary elections and the first round of the presidential poll.
A run-off for the presidency between the top two candidates will then be held in June if the vote is close.
The April vote will be the first multi-party poll in the former Zaire in more than 40 years.
It follows a successful referendum to change the constitution to limit presidential terms and increase the power of the judiciary in preparation for a new government.
The conflict-ridden Congo has been governed by President Joseph Kabila under a power-sharing peace deal since 2002.
http://www.abc.net.au/news/newsitems/200601/s1546879.htm |  jonwig | |
12/1/2006 12:04 | More good news on the political front:
Landslide vote for Congo constitution
Thursday 12 January 2006, 10:08 Makka Time, 7:08 GMT
Congo held its first national democratic poll in 40 years last December on a new constitution aimed at ending decades of dictatorship
The referendum resulted in a "yes" vote of 84.31%
Voters in the Democratic Republic of Congo have approved a new constitution by a landslide, paving the way for historic presidential and parliamentary elections in March.
The referendum held on December 18-19 resulted in a "yes" vote of 84.31% with 15.69% voting "no", electoral results released late on Wednesday showed.
http://english.aljazeera.net/NR/exeres/32FBC2EC-986F-4C99-8D13-C85DF0B160C7.htm |  jonwig | |
05/1/2006 12:40 | a good week so far and this morning we've hit a true 100p bid.
and here's a good source of industry news from a fellow cobalter...
http://www.formcap.com/s/CobaltNews.asp
(is now in header) |  rambutan2 | |
02/1/2006 20:57 | ;-0000
LOL |  delboy11 | |
01/1/2006 23:56 | good thread imo |  joe moon | |
01/1/2006 23:47 | To the top!
Hope your reading Sky |  delboy11 | |
01/1/2006 00:54 | This guy really has his head up his own backside....Cant ban me from this thread matey...Hope your New Year is as bad as your last... |  delboy11 | |
26/12/2005 09:59 | Improving chance of stability in the DRC seems to be one factor behind the share price movement in Banro Gold. This article is pretty encouraging and includes some general points:
http://www.resourceinvestor.com/pebble.asp?relid=15646
And the 'yes' vote in the constitutional referendum seems assured:
http://news.bbc.co.uk/2/hi/africa/4558394.stm |  jonwig | |
23/12/2005 11:55 | Yes - the referendum on the constitution appears to be on track for a substantial 'yes' vote, too.
Will put the D into the DRC, and lower risk factors, we hope! |  jonwig | |
23/12/2005 11:19 | all looking pretty positive for 2006 then. |  rambutan2 | |
23/12/2005 10:12 | Placing completed.
Note there are now 77,185,331 Class 'A' common shares in issue.
'This funding concludes an important year for Adastra, in which we have made
great strides in the progression of the Kolwezi Tailings Project,' said Tim
Read, President and Chief Executive of Adastra. 'The funds raised will be used
to finalise the Definitive Feasibility Study and the Environmental and Social
Impact Assessment, both expected for completion in March 2006, as well as for
other general corporate purposes. The stage is now set for 2006, which promises
to be an exciting and active year as we enter the next stage in Kolwezi's
evolution.' |  jonwig | |
14/12/2005 16:31 | Interesting article; but 'next two years' ... will be a glut when ours gets cracking?
Cobalt production setbacks in Zambia and recent problems at Falconbridge's high grade refinery in Norway, against a backdrop of anticipated soaring demand, could result in severe shortages of cobalt over the next two years, according to producers, traders and consumers.
http://metalsplace.com/metalsnews/?a=3261 |  jonwig | |
14/12/2005 07:10 | Placing of 6m shares @ CD1.70 making total shares in issue 77.2m.
This is as near as doesn't matter to the current share price of 85p. |  jonwig | |
13/12/2005 19:11 | Ash what do we have to do to get you to return with your useful posts on the traders thread.....by the way the old bfc looks over sold and is on the point of turn and is sets mm..........so would like your view |  seagreen | |
13/12/2005 08:30 | A rare mention in the national press (Times, market report):
Adastra Minerals perked up 3½p to 85p on appointing Royal Bank of Scotland to arrange the commercial bank tranche of its project financing for its Kolwezi cobalt venture in the Democratic Republic of Congo.
http://www.timesonline.co.uk/newspaper/0,,2740-1922958,00.html |  jonwig | |
12/12/2005 17:09 | Appointment of RBS
RNS Number:4712V
Adastra Minerals Inc
12 December 2005
Adastra Mandates Royal Bank of Scotland
In Kolwezi Financing
Trading: TSX and AIM: AAA
LONDON, U.K. (December 12th, 2005) Adastra Minerals Inc. ("Adastra" or the
"Company") is pleased to announce that it has awarded Royal Bank of Scotland plc
("RBS") the mandate to arrange the untied commercial bank tranche of the project
financing for the Kolwezi Tailings Project ("Kolwezi" or the "Project") in the
Democratic Republic of Congo.
The mandate agreement has been executed by RBS and Adastra's wholly owned
subsidiary Congo Mineral Developments Ltd ("CMD"). CMD is the majority
shareholder of Kingamyambo Musonoi Tailings SARL ("KMT"), the company that will
be the borrower and operate the Project. CMD is responsible for carrying out the
Definitive Feasibility Study and the Environmental and Social Impact Assessment,
and for organising the financing for the Project.
"This important mandate forms a key component of the project financing of
Kolwezi", said Tim Read, President and Chief Executive of Adastra. "The untied
commercial bank tranche will be for US $60-75 million with an eight year
maturity and will fund some 20% of the Project's total capital requirements. We
are delighted to have the support of such a pre-eminent bank in driving the
Kolwezi project forward."
The RBS appointment follows the recent announcement by the International Finance
Corporation (part of the World Bank Group) and the Industrial Development
Corporation of South Africa of their participation as shareholders in the
Project. The two institutions are also expected to be important lenders to the
Project, in addition to the untied commercial bank tranche.
Separately, Adastra and its project finance adviser, Rothschild, have held
detailed discussions with a wide range of public and private sector financial
institutions. The positive response has enabled Adastra to commence detailed
planning of the financing of Kolwezi.
"The Project remains firmly on course," said Tim Read. "The Definitive
Feasibility Study and the Environmental and Social Impact Assessment are
expected to be completed in March 2006, the negotiations for the power contract
are well advanced, and there has been considerable progress towards securing
long term off-take agreements for the cobalt and copper production. Our
objective is to start construction of the Project in the second half of 2006."
About Adastra
Adastra is an international mining company listed on the Toronto Stock Exchange
and on AIM, in London, under the symbol "AAA". It is currently developing
mineral assets in Central Africa, including the Kolwezi Tailings Project and the
possible rehabilitation of the Kipushi zinc mine in the DRC. Adastra's growth
strategy emphasizes the creation of shareholder value through the development of
world-class resources in stable or stabilizing political environments.
About the Kolwezi Project
Adastra's Kolwezi Project consists of two dams containing 112.8 million tonnes
of oxide tailings, grading 1.49% copper and 0.32% cobalt, as determined by Dr.
Isobel Clark of Geostokos Limited, a "qualified person" as defined by the
Canadian Securities Administrators' NI 43-101. This resource has the potential
to host one of the world's largest and lowest cost cobalt producers. A
definitive feasibility study is expected to be completed in the first quarter of
2006. If this study is favourable, construction is expected to commence before
year-end, with first production in mid 2008. The project is expected to produce
initially approximately 5,500 tonnes of cobalt and 30,000 tonnes of copper
annually, at which level of output Kolwezi has a mine life in excess of 50
years.
Such a project would generate significant taxation, royalty and dividend
revenues to the Government, as well as providing local employment and
contributing to the regeneration of the DRC's copper belt infrastructure.
Contact us:
Adastra in London
Tim Read Justine Howarth / Cathy Malins
Chief Executive Officer Parkgreen Communications
T: +44 (0)20 7355 3552 T: +44 (0)20 7493 3713
F: +44 (0)20 7355 3554 F: +44 (0)20 7491 3936
E: london@adastramin.com E: justine.howarth@parkgreenmedia.com
Adastra in North America
Martti Kangas
The Equicom Group
T: +1 416 815 0700 x. 243
+1 800 385 5451 (toll free)
F: +1 416 815 0080
E: mkangas@equicomgroup.com
This News Release contains forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1995 concerning the
Company's plans for its Kolwezi Project in the Democratic Republic of Congo ("
DRC") and the resource size and economic potential of that project. These
forward-looking statements are subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those
reflected in the forward-looking statements, including, without limitation,
risks and uncertainties relating to political risks involving the Company's
operations in the DRC and the policies of other nations and organizations
towards companies doing business in such jurisdictions, the inherent uncertainty
of production and cost estimates and the potential for unexpected costs and
expenses, commodity price fluctuations, the inability or failure to obtain
adequate financing on a timely basis and other risks and uncertainties,
including those described in the Company's Annual Report on Form 20-F for the
year ended October 31, 2003 and Reports on Form 6-K filed with the Securities
and Exchange Commission. |  mr ashley james | |
12/12/2005 12:45 | It's pleasing to see today's news that they've started raising the project finance, having appointed Royal Bank of Scotand to raise 20% (upwards of $60 million). |  arf dysg | |
05/12/2005 17:24 | I've just been speaking to a friend of mine who is Congolese. He says Kalemie is quite a big town. The infrastructure and communications in the region are not good, partly due to years of war in Eastern DR Congo, so it may take a while for us to hear about casualties. If I find out something more definitive in the next few days I'll post it here. |  arf dysg | |
05/12/2005 15:47 | The share price dropped on Toronto open.
The earthquake near Kalemie (see map) may be a factor.
It seems -fortunately- that there were no reported casualties.
http://news.bbc.co.uk/1/hi/world/africa/4499938.stm |  jonwig | |