All Active Asset Capital Share Discussion Threads

[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.)

[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

[rambutan2] 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)

[delboy11] 02/1/2006 20:57

;-0000 LOL

[joe moon] 01/1/2006 23:56

good thread imo

[delboy11] 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...