All Active Asset Capital Share Discussion Threads

[rambutan2] 18/1/2006 19:08

is worth listening to the fqm conference call (link on post 219). blatantly clear that tailings are worth well north of current offer, especially to fqm which has clout/resources way beyond what aaa possess. but that of course is the nub of the problem. are the aaa instit holders prepared to take the risk and hold out until aaa can get into production. fqm is still v much a growth stock, is liquid, top management that delivers, could itself be taken out. hmmm, i think that when they up the bid they will succeed. aaa has taken too long (not necessarily due to its own fault) and 2008 is a year too far into the future. 125p might do it imho, which is what the mkt seems to be suggesting...

[mr ashley james] 18/1/2006 18:34

Rambutan, Great Call well done. Cheers Ash:)

[arf dysg] 18/1/2006 18:15

I'm hanging on to my shares. I'd love to see the reactions of the investment managers inside the IFC, the IDC and the Prudential to today's news. There must be eyeballs popping out as they see how low the offer is. I rather suspect that this is no surprise to AAA - the rules have only recently been changed (by Adastra) to make takeovers more difficult. They must have had an idea that this was coming.

[mr ashley james] 18/1/2006 17:45

Response to First Quantum Bid RNS Number:1138X Adastra Minerals Inc 18 January 2006 Adastra Minerals Responds to First Quantum Minerals Ltd. Announcement Trading: TSX and AIM: AAA London, 18 January 2006 - Adastra Minerals Inc. ("Adastra" or the "Company") notes the announcement made by First Quantum Minerals Ltd. that it will make an unsolicited share exchange offer to acquire all of the outstanding shares of Adastra. The Board of Adastra has appointed a Special Committee which will consider this unsolicited offer for the Company. In the meantime, shareholders are urged to take no action until the Special Committee has had the opportunity to review the proposed offer and the Board of Directors has made its response. On December 1, 2005, the Board of Directors of Adastra implemented a shareholder rights plan. The plan was adopted in order to provide the Board of Directors with sufficient time to assess and evaluate any takeover bid or other potential change of control transaction, and to explore and develop alternatives that maximise shareholder value and to give shareholders adequate time to consider any such transaction. A further announcement will be made in due course. About the Company 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 several 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. Additional information on Adastra Minerals is available on its website at www.adastramin.com Contact us: Adastra Tim Read, President and Chief Executive Officer Tel.: [phone] Rothschild Charles Mercey Tel.: [phone] Canaccord Adams Limited Robert Finlay Tel.: [phone] Parkgreen Communications Justine Howarth / Cathy Malins Tel.: [phone] This information is provided by RNS The company news service from the London Stock Exchange END RSPEADFPFASKEFE

[rambutan2] 18/1/2006 16:27

agree. im certainly holding onto mine for the timebeing. although i see that im actually excluded from the bid ie as a normal joe uk investor. funnily enough, over the last couple of weeks as ive decided im a copper bull for this year, ive had a look at fqm again (having held from £1 up to £8 - a lesson in getting out too early!) and have put it on my watch list. in the interview i saw with clive newall he appeared v confident of fqm's prospects and of a continuing high copper price. i've always rated him highly.

[mangal] 18/1/2006 16:14

Ram, I doubt v much that they would take any notice of me either. Just as well that it has not come up in their %-lists; the less ppl that know, the better; but, I'm sure this will now be more visible because of today's bid.

[rambutan2] 18/1/2006 16:07

yes, they'll have it down as an international stock and so it not picked up. ive moaned at them before about this re crosby capital and a bunch of others i hold which never appear. perhaps they'll take more notice of you than they did of me mangal!

[mangal] 18/1/2006 16:02

Second highest % riser today and it doesn't even show up on advfn %gainers. does anyone know why?

[rambutan2] 18/1/2006 15:42

conference currently broadcasting... http://www.first-quantum.com/fm-disc.htm

[jonwig] 18/1/2006 15:17

ram, yes - I remember your posts there now - well done! As suspected, Toronto saw a strong open with these - wish I'd had the sense to buy more this morning. But the wider market being as it is, I held off. I might take my profits around 150p.

[gardenboy] 18/1/2006 15:05

decided to accept a good 45% gain today thanks - all in isa too

[gardenboy] 18/1/2006 15:00

now what's happening ? - market must expect higher bid ?

[rambutan2] 18/1/2006 14:08

fqm approach perhaps not such a surprise! rambutan2 - 23 Oct'05 - 00:34 - 151 of 214 edit wonder if they're still interested - it would cost them less than that to buy it on the stock mkt now! 33. Such high levels of mineral exploitation would be impossible without the collusion of highly placed government officials who provide mining licences and export permits in return for private gain. The Panel has compiled extensive documentation of such facilitations. For example, in its attempts to buy rights to the Kolwezi Tailings, First Quantum Minerals (FQM) of Canada offered a down payment to the State of $100 million, cash payments and shares held in trust for Government officials. According to documents in the possession of the Panel, the payments list included the National Security Minister, Mwenze Kongolo; the Director of the National Intelligence Agency, Didier Kazadi Nyembwe; the Director General of Gécamines, Yumba Monga; and the former Minister of the Presidency, Pierre-Victor Mpoyo. The FQM share offer to those officials was premised on a sharp rise in its share price once it was announced that it had secured some of the most valuable mineral concessions in the Democratic Republic of the Congo. http://www.afrol.com/Countries/DRC/documents/un_resources_2002_govt_zim.htm rambutan2 - 24 Oct'05 - 10:39 - 155 of 214 edit well i think that these two sentences from my post 151 bear repeating: "For example, in its attempts to buy rights to the Kolwezi Tailings, First Quantum Minerals (FQM) of Canada offered a down payment to the State of $100 million, cash payments and shares held in trust for Government officials. ...The FQM share offer to those officials was premised on a sharp rise in its share price once it was announced that it had secured some of the most valuable mineral concessions in the Democratic Republic of the Congo." aaa current mkt cap is just US$75m!!!!! despite having got a long way down the road to production, having the Industrial Development Corporation of South Africa and World Bank on board as substantial shareholders (10% and 7.5% stakes), having strong backing from national govt, local people and environmental lobby groups - in other words all the riskier bits (see header) as the metal is basically just sitting there on top of the ground waiting to produce a lovely income stream for decades. http://www.advfn.com/cmn/fbb/thread.php3?id=6480815&from=151

[jonwig] 18/1/2006 13:58

AAA sensibly advising 'no action'. They also refer to the 'Shareholders Rights' scheme. See what happens when Toronto opens?

[mangal] 18/1/2006 10:02

why is this not showing up in advfn's %risers?

[arf dysg] 18/1/2006 09:58

I want to see the Adastra board's response. I think Adastra is worth about £5 a share in a few years time. Can FQM match that?

[limor] 18/1/2006 09:26

I have no doubt in this situation,that the matter in play now !

[jonwig] 18/1/2006 09:22

Quite, Limor. The question is, whether to add at this level, now that AAA is seen as being in play.

[limor] 18/1/2006 09:16

What a cheeky and oportunistic offer by Fqm .I hold a valued stake in this company.There is no way I will sell out at this low price.I would expect Adastra to back my claim ! I would summise that FQM will go hostile as time goes by.Time will tell !

[gardenboy] 18/1/2006 08:33

Under the Offer Adastra common shareholders will be entitled to receive 1 First Quantum Common Share for each 17.5 Adastra Common Shares held. which gives me about a 20% gain and may not be too bad - I wish all my stocks had charts like FQM

[regalrealm114] 18/1/2006 08:11

Not a good deal for share holders!!

[jonwig] 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

[hyper al] 18/1/2006 08:06

very strange, maybe we have a mixup with the exchange rate

[jonwig] 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.)