Share Name Share Symbol Market Type Share ISIN Share Description
All Active Asset Capital Limited LSE:AAA London Ordinary Share VGG017801082 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  4.00 6.78% 63.00 62.60 63.00 62.80 57.40 57.40 18,928,448 16:35:06
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -0.5 -0.3 - 638

All Active Asset Capital Share Discussion Threads

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which makes avm a perfect contrarian buy! came across this good piece... Adastra forages about for funds to process copper tailings dam November 9, 2004 By Nicky Smith Johannesburg - You would be forgiven for thinking the photograph was shot in the Sahara desert. But the small group near the 4x4 vehicles in the vast expanse of blonde sand with the dark bumps of mountains in the distance is actually standing in a giant copper tailings dam. The "desert" is what remains of the copper taillings and the "mountains" are the edges of the dam. This is about half of what is the world's biggest surface cobalt resource, Kingamyambo, in the southern part of the Democratic Republic of Congo (DRC). The 112 million tons of copper tailings are the byproduct of more than 50 years of copper mining in Kolwezi, just north of the DRC's border with Zambia. Tim Read, the chief executive of Adastra Minerals, said the quality and quantity of copper and cobalt, which could be extracted from these dams, rivalled what some greenfield copper projects in Chile were offering. Adastra, which is Latin for "to the stars", is a junior mining company listed on the Toronto Stock Exchange as well as the London Alternative Investment Market (Aim). Its other projects are a zinc mine, Kipushi, in the DRC, and diamond exploration contracts in Angola. Locally listed Kumba Resources has the option to take up 50 percent of the Kipushi mine. Adastra will be fighting Endiama, the Angolan state diamond company, in court about changes to contracts the Angolans signed and now want to amend. The company used to have diamond exploration programmes in Brazil, Finland and Russia, but that was before Read took over. "Madness, total strategic idiocy," was how Read described these efforts. This sentiment is in stark contrast with how he feels about Kolwezi. "It's a wonderful project because it is devoid of a lot of the mining risks," he said. The mining costs would be less than 1 percent of the project's operating costs. Copper prices have soared in recent months, driven by China's unquenchable thirst for raw materials. Commodities across the board are enjoying a boom because of China and to a lesser degree India. About 60 percent of copper is used in electronic goods, household wiring and telecommunications cabling. Another 20 percent is used because of its anti-corrosive properties in plumbing and sheeting for roofs. Cobalt is used mainly in batteries because of its great charge-holding properties. Lithium ion batteries are used in cellphones, MP-3 players, laptops and more recently in hybrid electrical and internal combustion engine powered cars. Ten years ago, the world consumed about 25 000 tons of copper a year. Now it consumes 45 000 tons a year and by 2010, demand could be as high as 60 000 tons a year. Hilton Ashton, a commodities analyst with Absa, said Chinese demand was expected to continue to be strong, which would underpin the prices of commodities for a while to come. Read said the project would need $250 million (R1.5 billion) to $300 million, of which about $120 million needed to be raised on the markets. "The project's debt capacity is very high because of the quality of the margins," he said. Read said Adastra "might eventually" have a listing in South Africa, which he said had "a robust institutional investor market". All the local banks had expressed interest in financing the project, which would be in two parts. It could yield 10 000 tons of cobalt and 60 000 tons of copper a year for 38 years at full capacity. The company would also look to the Development Bank of Southern Africa, the International Finance Corporation - a World Bank affiliate - and the African Development Bank for financing. Rothschild has been appointed as its financial adviser. Feasibility and environmental and social impact studies are well under way. Read is in South Africa to meet investors and more specifically the Industrial Development Corporation (IDC), which has an option on 10 percent of the Kolwezi project. Adastra owns 82.5 percent and the government of the DRC in effect holds the balance. "At the moment [the IDC] haven't exercised their option. We would like them to come and exercise their option. They're great partners. They are extremely helpful and they have great experience on the continent and in mining projects," Read said. The IDC struck a deal with Adastra two years ago in terms of which it would spend $5 million to buy its 10 percent stake and match the $25 million contribution made by Adastra so far in proportion to its shareholding. Kolwezi is expected to start producing metal in late 2007.
AVM has disappointed in Congo.Supposed to have a very rich copper deposit but continually disappoints in production figures. Resurgance of military activity means company is valued on a fire sale basis.
not been following avm recently. what did they do?
Hope it doesn't do an AVM (Anvil)
big jump up today and now into the 70s.
and we have and back into the 60s.
about time we went up.
The triple A (AAA) ...
disappointing... Adastra Commences Legal Proceedings Against Endiama Trading: TSE:AMZ and AIM:AAA LONDON, U.K. (September 21, 2004) - Adastra Minerals Inc. ('Adastra') today announced that its wholly owned subsidiary IDAS Resources N.V. ('IDAS') is commencing legal proceedings in the United States against Empresa Nacional de Diamantes de Angola ('Endiama'), the state owned diamond company in Angola. IDAS and Endiama signed agreements in August 2002 and December 2002 for diamond exploration and exploitation in the Luremo area of Angola. These agreements followed the receipt in October 2001 of the Council of Ministers' confirmation of two licences awarded to Endiama with licence rights to be exercised through a joint venture of Endiama and IDAS. 'Despite agreed detailed commercial terms and fully drafted documentation, we have been totally frustrated in our attempts to progress matters further and Endiama has made it clear that it has repudiated its contractual obligations. This has left IDAS with no choice but to seek legal redress. We have been advised that we have a very strong case,' said Tim Read, President and Chief Executive Officer of Adastra. Mr Read concluded, 'This is a disappointing situation in respect of Adastra's rights; however it will not be allowed to divert the company from its principal focus of bringing the Kolwezi Tailings Project into production.' About Adastra Adastra Minerals is an international mining company listed on the Toronto Stock Exchange under the symbol 'AMZ' and on the Alternative Investment Market of the London Stock Exchange under the symbol 'AAA'. The company has several mineral assets in Central Africa, including the Kolwezi cobalt/copper tailings project and the Kipushi zinc mine in the DRC, and the Cuango River diamond project in Angola. Adastra's growth strategy emphasizes the creation of shareholder value through the development of world-class resources in stable or stabilizing political environments. About Cuango River Diamond Project The Cuango Basin has historically been one of the most prolific sources of diamonds in Angola. The Cuango floodplain licence is an irregular polygonal shaped area running along 50 kilometres of the river Cuango north to the border with the Democratic Republic of Congo. The licence is for exploration of both alluvial and primary diamond sources. The second smaller area, of about 300 sq km, runs along the southern border of the Cuango floodplain licence and is called the Camutue licence. This is a mining licence and covers areas of historic production.
good news today and a late small rise - not sure we will ever see this under 50p again. imho mkt still not taken on board what this offers.
wow! encouraging news, thanks rambutan
and (out yesterday) cans view on the above and the current price and one which i strongly agree with... Adastra Minerals Inc. (AMZ : TSX : C$1.23) - Buy - Target: C$4.40 Mike Jones Comment: Adastra awards Definitive Feasibility Study (DFS) on Kolwezi TRP The company has confirmed it has appointed a consortium of GRD Minproc and Murray and Roberts to lead its Definitive Feasibility Study (DFS) for the development of the Kolwezi Tailings Retreatment project in the south east of the Democratic Republic of the Congo. The company has also confirmed it has recommenced negotiations with the state for the redevelopment of the Kipushi zinc mine. With the DFS now formally underway, we would expect the study to be completed around mid 2005, confirming capital and cost estimates. While Kolwezi accounts for more than 90% of company value, the re-invigoration of the Kipushi Mine project will also add to value. We have constructed a model for the Kolwezi project, which determines a distributable cashflow NPV (13.75%) of US$345 million attributable to Adastra. With dilution for a further US$50 million funding assumed at end- 2005, this equates to C$3.97/share. The project is progressing well through its milestones at the same time that the price outlook for cobalt is getting stronger, yet the share price has deteriorated. We consider this a major buying opportunity and continue to recommend Adastra as a BUY with a target price (based on a US$12/lb cobalt projection, 90c/lb copper and a 13.75% discount rate) of C$4.40/share.
read rns for potentially good news out today.
hortcom this is a very long term and high risk project. I put a couple of k into these and am forgetting about them. They will either be tenbaggers or -100 baggers and the latter is more likely(IMO)!
This doesn't look good. When are we going to see light at the end of the tunnel? It's far too cheap surely?
spoke to london office yesterday (names slipped my mind). to sum up, he sounded quietly confident. as canaccord says above, on that basis this is currently very cheap.
from last thurs... Adastra Minerals Inc. (AMZ : TSX : C$1.50) - Buy - Target: C$4.40 Mike Jones Comment: Company update on Adastra (formerly, American Mineral Fields) Since the six-year high in the cobalt price of US$27.59/lb average for the month of February, Adastra's price has fallen considerably despite cobalt still trading at 25.89/lb (average of May). Considering that all of our valuation projections have been based off a cobalt price of US$11.00/lb, this is clearly excessive. Several small steps have been taken by the company that together paint a picture of good progress, and we are thus using this opportunity to reflect on our valuation. The cobalt price is now trading at just under US$26.00/lb, the one-year trailing average is US$17.70/lb and the two-year trailing average is US$12.30/lb. With the clear message in May from the Cobalt Development Institute that the pressure was definitely to the upside, we have moved our cobalt price estimate from US$11.00/lb to US$12.00/lb. However, at the same time we have moved our price assumption for the dilution that will be required for the project equity financing round, down again to the current price. The net effect is no change in our target price of C$4.40, and we retain our BUY recommendation.
simon K- yes very pleased, starting to panic for a bit, not adding until a bit more stable. You were right about Radstone on the day of the results, what a slump! is that people taking profits? Instead I have added to Radstone(£200) that is, not 20,000 Simon!! I only pay £2 for my shares but I have to do it on a certain day of the week. Keeping a north eye on Petrel, another week or two and I might pounce! rambutan2 - Thanks for info on ZOX, must do some more reading! Adastra has taken it all out of me, what a complex share. I liked what Tim Read had to say though with the blend of politics, he has the right focus.
well i bought just a few of these as had got too cheap according to my riskometer. rns was a nice bonus. petrel – now they always seemed too pie in the sky for me. but will have to take another look now! in return, take a look at zincox (zox), i think they look too cheap and management agreed with me when i rang them yesterday (yes, they would wouldnt they!). they (the gurus) always say back the management before anything else, and i think thats what you need to do with zox. in the world of zinc they are tops. price has been depressed by a seller and a big line. but the big line has now been withdrawn after talk of good things to come. prelims are out soon.
Well done hortcom77 you will be pleased with today's announcement that AAA have secured a permit to exploit the Kolwezi Tailings deposits in the Democratic Republic of Congo. The permit, from the country's ministry of mines, gives Adastra an 82.5 pct ownership in the project. This will undoubtedly help to settle the nerves. rambutan2 - I am receiving daily reports from my contact in Angola about Petra Diamonds. Sounds positive. On the otherhand, favoured mining stock remains Petrel Resources (PET) - the Iraq oil play - they are in there, having had Saddam do all the work with his surveys and testing. I am a firm buyer of these. I am keeping my powder dry on AAA but monitoring their progress.
simon k
simonK, i once came a cropper with petra when it looked a cert for the big time, when a uk govt minister stepped in. shares were suspended for months and the deal fell through. however, this time it looks for real.
both these are well worth a read...
hortcom77 - i am not altogether comfortable with this one, in truth. I have a client, whose son is working out in Angola and for what it is worth he is buying Petra Diamonds quite heavily. I much prefer that situation - it is quite a high risk but Adastra more so IMHO. Stick with wonderful Radstone (RAD) they take some beating in terms of investment performance.
simon k
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