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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
  0.00 0.0% 34.40 34.00 36.00 - 0.00 07:33:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -0.5 -0.3 - 335

All Active Asset Capital Share Discussion Threads

Showing 176 to 200 of 825 messages
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DateSubjectAuthorDiscuss
07/11/2005
11:40
opened up 10p this morning, and a bit of volume (by aaa standards). good. good. good.
rambutan2
04/11/2005
01:38
and another one... Africa's shining path? By: Barry Sergeant Posted: '03-NOV-05 18:52' GMT © Mineweb 1997-2004 JOHANNESBURG (Mineweb.com) -- This week's news that Phelps Dodge Corporation, one of the world's leading copper miners, has taken a controlling stake in the Tenke Fungurume project is the biggest to-date thumbs up by the private sector in the freeing up of the Democratic Republic of the Congo. How things have changed from October 16, 2002, when UN secretary-general Kofi Annan sent the Security Council a 25-page report, from the Panel of Experts on the Illegal Exploitation of Natural Resources and Other Forms of Wealth of the Democratic Republic of the Congo. The report documented precise criminal instances, and named individuals, in a story that boggles the brain on every re-reading. The UN took the report very seriously. After an initial DRC peace agreement was signed in December 2002, the UN increased its DRC personnel to nearly 18,000 in November 2004. Just before this week's announcement from Phelps Dodge (which was ratified by Congolese presidential decree), the Security Council reinforced peacekeeper numbers in the province of Katanga, where Tenke Fungurume is situated, as the DRC continues to prepare for its first democratic elections in 45 years. The UN mission in the DRC is the UN's biggest, costing about $1 billion a year. The news from Phelps Dodge is very serious: mining the Tenke Fungurume deposits requires an investment that will run into hundreds of millions of dollars. J. Steven Whisler, chairman and CEO of Phelps Dodge, this week described the deposits as "the largest and highest-grade undeveloped copper/cobalt project in the world today." He wants the feasibility study finished by mid-2006, with first copper production targeted in early 2008. The news has been welcomed by companies operating in, or near to, the DRC, not least Metorex (listed in Johannesburg) and foreign-listed entities such as Equinox, First Quantum, TEAL Mining & Exploration, along with a number of advanced exploration plays such as Banro, which holds a huge gold concession extending over 210 kilometres in the South Kivu province. Phelps Dodge has, of course, benefited from dollar copper prices, which have tripled in the past three years. On the other hand, Tenke Mining Corporation, now a minority partner in the project, has spent $88 milliontowards a feasibility study. The "force majeure" that was declared on Tenke Fungurume in February 1999, upon resumption of a complex war, has now been lifted. The "war" in the DRC, which left millions dead, according to various non-governmental organisations, was no conventional war. It was all about filthy lucre. In 2002, the Security Council read how the DRC conflict attracted no less than seven African states to loot and plunder the country. By 2002, the conflict had "diminished," but, said the report, "the overlapping micro conflicts that it provoked continue." The conflicts over money, money, and more money focused on pre-money, in the form of metals and minerals, hardwood timber, land, and even farm produce and tax revenues. Some of the main beneficiaries, according to the UN, were criminal groups linked to the armies of Rwanda, Uganda and Zimbabwe, and the DRC itself, along with "powerful individuals in Uganda." The "elite" network of Congolese and Zimbabwean political, military and commercial interests transferred ownership of at least $5 billion of assets from the DRC state mining sector to private companies under control of the network in 1999-2000, "with no compensation or benefit for the DRC." Among the individuals named were George Forrest, a Belgian national, who "built up the most wide-ranging private mining portfolio" in the DRC. The UN found that since 1994, Forrest had owned 100% of New Lachaussée in Belgium, a leading manufacturer of cartridge casings, grenades, light weapons and cannon launchers. Forrest was chairman of Gécamines, the DRC's state-owned copper miner, from November 1999 to August 2001. The techniques used by Forrest were allegedly replicated by – among others - Zimbabwean-backed entrepreneur John Arnold Bredenkamp, who has an estimated personal net worth of over $500 million. Today, despite the certainty of hiccups going forward, the DRC is as primed for success as it has ever been. Tenke Fungurume, first discovered by Union Miniere du Haut Katanga in 1918, is at long last going to be mined. Charter Consolidated, among others, tried its hand with the deposits, but abandoned the project in 1976, for reasons that require little imagination. Phelps Dodge this week said that it would now control 57.8% of Tenke Fungurume, with Tenke Mining Corporation at 24.8% and Gécamines at 17,5%. Back in 2002, the panel reporting for the UN found that the-then director-general of Gécamines, Yumba Monga, facilitated several asset-stripping joint ventures between Gécamines and private companies. There may still be lots of worms to pop out of the woodwork. For one thing, there is agitation in the DRC capital, Kinshasa, for the public release of a report, finalised in May, that reviewed all contracts signed by the state from 1996 to 2003. But the vote cast this week by Phelps Dodge says that this time, the DRC could be for real.
rambutan2
01/11/2005
22:37
and here's a timely example of drc developments... http://www.companyannouncements.net/cgi-bin/articles/20051101173900N6942.html
rambutan2
01/11/2005
17:28
all i do know is that many mining cos, mega and small, are now desperately trying to get into drc. if aaa were the only one there, i might feel a bit more concerned. give me drc over russia anytime.
rambutan2
01/11/2005
17:13
Now they not only have permits to mine the Co and Cu under (sorry, sitting on top of) the ground, but also own their own ready concrete supply. I suppose the event of elections (or not) next year is a scare factor, as is the general fear that DRC officialdom are still unreconstructed. Would the Zambians (doorstep of Kolwezi and Kipushi) step in to keep order in the event of civil war? At least that would help mining continue, but then there's the problem of getting the money out.
jonwig
01/11/2005
08:57
Rambutan FYI http://www.advfn.com/p.php?pid=nmona&cb=1130835370&article=13009888&symbol=L%5EAAA
mr ashley james
31/10/2005
18:14
I, too, am getting very tempted. Around 60p to buy is a complete steal. Surely since the definitive feasibility study is so soon this stock ought to be getting more valuable. I guess everyone is terrified of the DRC.
arf dysg
31/10/2005
17:00
well, i know that mr mkt is always supposed to be right, but now this is getting silly. ive resisted topping up since my last nicely timed (not!) buy in the low 80ps, but am getting sorely tempted.
rambutan2
31/10/2005
16:29
It looks as though the Canada price was down last week, and the London price is now converging.
jonwig
30/10/2005
01:18
What might come out of it is Angola get a black mark & less financial support from West if ENDIAMA insist on breaching the contract. But maybe the Angolan's will get backing from Russia their long time allies & thus not give a hoot about the promises with strings attached from the West. It was my interpretation from the last statement that aaa are not going to put to much effort & resources into this debacle but rather they are going to put more effort into the copper venture. IMO
the gull
29/10/2005
23:46
arf, trouble in aaa's case is that endiama insist on having a controlling stake, but expect aaa to pay all costs. there is no doubt that aaa have paper that shows that they were given control of the land. and that's what they have taken to court in the states. not sure what might come out of it though.
rambutan2
29/10/2005
17:21
AAA has diamond acreage in Angola, but the last set of results said that the Angolan state-run diamond company, Endiama, had reneged on its agreements, preventing AAA from carrying on, so AAA was taking legal action. It seems that Endiama is continuing to behave this way, if I read a recent Shares Magazine article correctly. New Millenium Resources (NML) has a concession in Angola which includes alluvial diamond areas and some kimberlites. NML were producing diamonds from the alluvial areas and applied for an exploration license for the kimberlites. Endiama then told NML to stop production, including in the alluvial areas, so that a consortium running an adjacent mine could explore the kimberlites on NML's concession. This sounds like Endiama has pulled the rug out from under NML, effectively destroying their business. One has to ask why Endiama would let a rival company explore on NML's concession. Unbiased observers might ask why Endiama are effectively stealing NML's concession and giving it to a rival. Shares magazine seems to think that it's NML's fault but the facts in the article suggest at least high-handed behaviour by Endiama and possibly some hidden relationship between Endiama and the rival company (a consortium which includes the Russian diamond giant Alrosa). Considering AAA's statement of the situation with Endiama, one would be forgiven for suspecting that this continues a pattern of Endiama's behaviour.
arf dysg
27/10/2005
11:22
Today's RNS item: Directors have been granted more share options, exerciseable at various times over the next ten years, depending on the performance of the company's share price relative to a specified index. The minimum per director seems to be 100,000 new options, making 500,000 in total. Some directors (Tim Read, for example) have more new options, bringing their totals to over a million options. That's a vote of confidence.
arf dysg
24/10/2005
09:39
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.
rambutan2
24/10/2005
08:23
This article could have AAA written all over it: "Resource Sector Interest and Awareness is Almost Nil" http://www.resourceinvestor.com/pebble.asp?relid=13924
jonwig
23/10/2005
01:42
Post removed by ADVFN
shirishg
22/10/2005
23:47
400,000 shares cross traded last week. previous week was lots (for aaa) of instit dealings as well. hopefully is a sign of broker etc trying to get the shareholder base sorted.
rambutan2
22/10/2005
23:34
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
17/10/2005
09:31
yes, it's down to tim read to more than earn his keep - get the share price up and get the fund raising away at an acceptable level. meanwhile, mr mkt does his best to make life difficult!
rambutan2
17/10/2005
09:15
Yes: quite a few very encouraging statements in the RNS, such as this one: Rashad Kaldany, Director of IFC's Oil, Gas, Mining and Chemicals Department noted that the Kolwezi Project is currently the most advanced mining project in the DRC, and would be the first one to move forward under the country's new mining code, which, amongst other things, regulates the accrual of financial benefits from mining to central and local governments. And the share price...?
jonwig
17/10/2005
08:49
ifc and idc have exercised their options http://www.companyannouncements.net/cgi-bin/articles/200510170940307433S.html kolwezi IS going to happen.
rambutan2
15/10/2005
07:25
Minesite article covers this week's announcement and also plenty of background on the company: http://www.minesite.com/storyFull5.php?storySeq=3044 As per usual, the share price is indifferent...
jonwig
13/10/2005
08:10
Adastra secures Kolwezi subsurface rights 584 words 12 October 2005 eSource Canada Business News Network English Copyright 2005 Business Information Group. All Rights Reserved. Shares in Adastra Minerals (AAA-T, AAA-L) jumped 23¢, or more than 16%, to $1.65 in early trading in Toronto on Oct.12, after the company said that it had secured subsurface exploration rights for the Kolwezi copper-cobalt tailings project in the Democratic Republic of Congo. The 5-year, renewable licence, which was issued to Adastra's wholly owned Congolese subsidiary Roan Prospecting, covers the entire 62-sq.-km tailings project area including the formerly producing Kingamyambo, Kananga West, Kananga East and Clippe Nord deposits. Adastra is planning an exploration campaign on several copper and cobalt targets. "The award of these subsurface exploration rights is of significant importance to our company," said Adastra CEO Tim Read in a prepared statement. "On the one hand, it gives us considerable exploration opportunities quite separate from the development of the Kolwezi tailings project. On the other, it affords total protection regarding the integrity of the area covered by the tailings exploitation licence, ruling out any possibility of conflicting interests on land use." The Kolwezi tailings project centres on two dams containing a resource of 112.8 million tonnes of oxide tailings grading 1.49% copper and 0.32% cobalt. The tailings dams are left over from the mineral concentrator facility in Kolwezi, which processed high-grade ore from the Kov and other nearby mines from 1952 onward. Initial plans at Kolwezi envisage annual production of 5,500 tonnes of cobalt and 30,000 tonnes of copper over a 53-year mine life. Cash costs are expected to be among the lowest in the world. The company says the existing resources are capable of supporting production of 11,000 tonnes cobalt and 60,000 tonnes copper annually over 29 years. A definitive feasibility study by Murray & Roberts and GRD Minproc is expected in the first quarter of 2006. Pending a positive outcome, construction could conceivably begin before the end of 2006, with first production by mid-2008. The base case scenario carries an estimated price tag of $300 million, including working capital, owner's cost, and contingencies. In late August, the DRC's Ministry of Mines' Direction chargée de la Protection de L'Environnement Minier approved Kingamyambo Musonoi Tailings' environmental and social impact assessment (ESIA) at Kolwezi. Adastra says the approval means the company can proceed with its planned development. The company intends to finalize a ESIA compliant with Wolrd Bank standards by yearend. In May, International Financial Corp. (IFC), the financing arm of the World Bank, and Industrial Development Corp. of South Africa (IDC) agreed to acquire equity interest in the project and become potential lenders. Adastra will gain US$12 million in cash once these agencies exercise their options. Adastra currently holds an 82.5% interest in Kingamyambo Musonoi Tailings (KMT), which owns the Kolwezi project. The government of the DRC holds a 5% stake, while state-owned Gécamines has a 12.5% interest. Adastra's interest in Kolwezi will be reduced to 65% in order to allow IFC and IDC to acquire 7.5% and 10% interests, respectively. The DRC government and Gécamines will retain their original holdings. Adastra will receive $12 million from the IFC and the IDC for their equity stake in KMT. Thereafter, the company will look to arrange a mix of debt financing, subordinated debt, and equity financing to build the project. The IFC and IDC will maintain their interest levels via any equity financings, and will lead the project debt financing.
sivadnoj
12/10/2005
08:58
just in case anyone needed reminding... 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. http://www.companyannouncements.net/cgi-bin/articles/200510120700115352S.html
rambutan2
12/10/2005
06:20
Adastra Minerals Inc. ... is today delighted to announce that it has secured the subsurface exploration rights under the whole of its Kolwezi tailings project licence area in the Democratic Republic of Congo... Takes away potential problems, as the rest of the RNS (see header) states. I think the political situation might still be the main factor holding the share price back.
jonwig
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