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Share Name Share Symbol Market Type Share ISIN Share Description
All Asia 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
  +0.00p +0.00% 2.00p 1.50p 2.50p 2.00p 2.00p 2.00p 0 05:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 1.1 0.5 4.0 4.24

All Asia Share Discussion Threads

Showing 276 to 300 of 450 messages
Chat Pages: 18  17  16  15  14  13  12  11  10  9  8  7  Older
DateSubjectAuthorDiscuss
25/1/2006
17:55
arf, as i see it, trouble is that still over 2yrs (excluding any other delays, which as we know are quite possible) before aaa get it into production. that's a long time to wait. perhaps too long. if it was starting up in 2007 i think that everyone would be prepared to sit tight - aaa must be very much regretting the time they wasted on the alternative flow plan - but 2yrs? meanwhile they can get into fqm which is still a growth stock and will participate fully in any copper squeezes, is a liquid stock, has an excellent management with a record of delivering and is itself a potential takeover candidate. hmmm. on the other hand, is the 2 year wait worth it on a long term view? once into production what multiple of current share price might we expect. rather depends on situation with cobalt mkt i spose and how aaa management can play their potentially price making role in it. also, i wonder what copper might still be in the ground? kipushi is small scale, fqm don't even put any value on it, and pretty unlikely ever to be a company maker, but could still be a nice rev source for an independent aaa. and the legal sit with the diamonds hasn't even got a mention, although remember that when i last heard i was told that a top stateside no win no fee lawyer was on the job. very long odds, but potential huge payback - what a bummer if fqm were to benefit from the payback. hmmm.
rambutan2
25/1/2006
17:29
Rambutan, Difficult to call the bid is in TSE:FM Stock, I think the share will hit C$42 Short term probably, and I do think TSE:FM will end up being the regional African Copper Powerhouse if they pull this off, and remember I have the greatest amount of respect for Clive Newall and team. By the same definition I think African Copper Plc LSE:ACU is grossly undervalued and extremely well run. You put me in the impossible position of liking all three shares Adastra Minerals Inc TSE:AAA, First Quantum Minerals Limited TSE:FM and African Copper Plc TSE:ACU. Which has the greatest percentage upside in 2006? Probably IMO African Copper Plc as US and Canadian Institutions climb on board but in reality you can never tell. All IMHO, NAG, DYOR etc Cheers Ash:)
mr ashley james
25/1/2006
17:19
If I read that article on the Canadian board correctly (re-posted on the other thread here on ADVFN), major shareholders don't want to sell at anywhere near the current price. If major shareholders won't sell, FQM can't buy. That means the upside from here is much higher than 150p. I'm holding on and waiting to see what happens.
arf dysg
25/1/2006
16:19
so ash, the question is do i sell my aaa now and put the money into more acu? it goes against my principles, but odds are that aaa upside is 150p and that may take some time to reach. while acu's upside is most likely to be much greater and it could add plenty quite quickly. hmmm.
rambutan2
25/1/2006
15:45
Adastra Minerals Inc Issue of Equity RNS Number:4028X Adastra Minerals Inc 25 January 2006 25 January 2006 FOR IMMEDIATE RELEASE Adastra Minerals Inc. ("the Company") The Company announces that it has issued 167,500 common shares of the Company pursuant to an exercise of options. Application has been made for these Shares to be admitted to AIM on 30 January 2006. This information is provided by RNS The company news service from the London Stock Exchange END IOEKZLFLQFBXBBV
mr ashley james
25/1/2006
05:53
http://www.resourceinvestor.com/pebble.asp?relid=16425 Adastra Minerals' Board Dismisses First Quantum's Offer By Craig Wong 24 Jan 2006 at 04:48 PM EST VANCOUVER (CP) -- Adastra Minerals Inc. [TSX:AAA] rejected an hostile takeover offer from First Quantum Minerals Ltd. [TSX:FM] on Tuesday, calling the all-stock offer too low and ''opportunistic.'' The junior miner said the offer is below a previous one floated by First Quantum in discussions aimed at a friendly deal in November. ''The initial view of the board of directors of Adastra and its financial advisers is that this opportunistic offer significantly undervalues the company,'' Adastra said in a release. Adastra shares gained 14 cents our about 6% to C$2.49 in trading on the Toronto stock exchange after the news, while First Quantum shares were up 20 cents at C$37.90. First Quantum has offered one of its shares for every 17.5 Adastra shares, making the implied value of the offer C$2.17 per share or about C$167.1 million. The November offer would have seen one First Quantum share exchanged for 15 in Adastra, an offer that was rejected at that time as ''undervaluing the company and its prospects,'' Adastra said. First Quantum said Tuesday the company stood by its offer made last week. London-based Adastra, whose shares trade on the Toronto stock market, said its board has formed a special committee to deal with further offers. ''Shareholders are urged to take no action until the special committee and its advisers have had the opportunity to review any formal offer once made and the Board has made its recommendation to shareholders,'' the company said. First Quantum is interested in Adastra's copper-based interests in Central Africa. When it made its offer, the deal represented a 24% premium over the previous day's close. UBS analyst Tony Lesiak noted that Adastra's key Kolwezi copper and cobalt project as well as the company's Kipushi copper and zinc mine are well endowed and in First Quantum's backyard. Vancouver-based First Quantum operates major mines and tailing deposits in the Congo and the Kansanshi copper mine in Zambia. ''With First Quantum's solid track record and infrastructure on the Zambian side of the copperbelt they are also ideally located,'' Lesiak wrote in a note to clients
gardenboy
25/1/2006
01:57
and for the record... Adastra Minerals Update on First Quantum Minerals Ltd. Approach London, 24 January 2006 On 18 January 2006, First Quantum Minerals Ltd. ("First Quantum") announced that it will make an unsolicited share exchange offer to acquire all of the outstanding shares of Adastra Minerals Inc. ("Adastra", the "Company"). The initial view of the Board of Directors of Adastra (the "Board") and its financial advisers is that this opportunistic offer significantly undervalues the Company. In order formally to respond to First Quantum's offer, the Board has formed a Special Committee comprising John Bentley, Etienne Denis and Bernard Vavala, three independent directors, and has retained N M Rothschild & Sons Limited as its financial adviser and the Special Committee has hired Torys LLP as its legal adviser. Adastra's legal advisers are Stikeman Elliott LLP. The recommendationof the Board and its reasons supporting such recommendation will be mailed to shareholders and filed with securities regulators in Canada and the United States within 15 days following the time that any formal offer is made for Adastra. Adastra notes that First Quantum approached Adastra about a potential share exchange offer in November 2005, at which time it proposed an exchange ratio of 1 First Quantum common share for every 15 Adastra common shares. The exchange ratio proposed by First Quantum in its 18 January press release (1 First Quantum common share for every 17.5 Adastra common shares) is significantly inferior to that proposed in November, which at that time the Board rejected as undervaluing the Company and its prospects. The Board is committed to achieving maximum value for Adastra shareholders, whether through eliciting an improved offer, completing the financing and development of the Kolwezi Project, or otherwise. Shareholders are urged to take no action until the Special Committee and its advisers have had the opportunity to review any formal offer once made and the Board has made its recommendation to shareholders. 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. Royal Bank of Scotland has been mandated to arrange the international commercial tranche of the financing for the project and the Company has received expressions of interest in lending to the project from a number of public sectorfinancial institutions. The definitive feasibility study is expected to be completed in early March 2006. If this study is favourable, construction is expected to commence before year-end, with first production planned for the third quarter of 2008.
rambutan2
25/1/2006
01:51
a noteworthy post from quality poster thenight over on the canadian board which in header... Canacord in London today have in our view put out a "cautious" and in our opinion well considered note giving their assessment re the current value of this Company(AAA)...They have assumed prices of only $1.05 for copper and circa $12.00 for cobalt in their calculations re the Kolwesi project,and taken little/no account of subsoil mining rights on the same site and/or the other properties,including Kipushi,in the portfolio. They have used a very prudent 15% discount rate to calculate net present value and have also adjusted their numbers for additional equity that the bank lenders might require in due course to support the total funding for the Kolwesi project...Canaccord's overall conclusion is that the current net present value of the Company is CAD3.20 per share-not neccessarily a figure that the Management of the Company would agree with as in their view it underestimates the real worth of the Company's assets in the open markety...One gains an insight of Management's more likely views through Canacord's additional comments in the same Note which point out that rather than the Company issuing new equity they can sell their other assets...What is more,given so many of the risks for the Kolwesi project have been eliminated,and the International Finance Corporation(World Bank) are on board as partners with the Company,a 12% (rather than the original 15%)discount rate is more appropiate for calculation of the net present value of the shares today...All this means is the real value of the shares in today's markets exceeds CAD5.00 per share...Our own intelligence in the Market(our own side of the pond and in the US/Canada) suggests that atleast two of the largest shareholders pretty much agree with Canaccord's views...Moreover they are quietly confident at the present time that there will be interest elsewhere for the business....We are also quite large shareholders and have no intentention at selling at these low prices,never mind accepting the current low ball bid...What is more we are very pleased indeed that the blue chip bank,N.M.Rothschild and Sons have been employed by the Company to ensure fair value is obtained....The action in these shares is only now beginning!
rambutan2
23/1/2006
08:20
Here's the Daily Mail take: ADASTRA BID IS A JUNGLE FORINVESTORS 285 words 23 January 2006 Daily Mail 23j English (c) 2006 Associated Newspapers. All rights reserved THE £ 92m bid for Adastra Minerals, which has a cobalt mine in the Congo, may take investors into an unfamiliar part of the corporate jungle. A month before the all-share bid from First Quantum Minerals, Adastra voted through a remarkable 'poison pill' enabling it to issue shares at half-price to all previous investors in the event of any offer, or the taking of a 20pc stake, except in the case of a 'permitted' bid. Such measures are not unknown among Canadian miners, but would be controversial in a UK bid battle. Adastra is quoted in London and Toronto. Demand for cobalt, used in aero engines, batteries, catalysts, and paint, is strong. Adastra's Kolwezi project in the Congo is described by broker Investec as 'one of the world's largest unexploited sources' with a potential 50-year production span from 2008 onward. But it is still at the financing stage, and its board clearly knew it was vulnerable. Turning the two huge dams at Kolwezi, containing an estimated 5,500 tonnes of cobalt, into a mine could cost £200m. In December Adastra lined up £40m financing from Royal Bank of Scotland. But First Quantum, which is already active in the Congo, slapped in its bid last week. It is offering one FQ share for every 17.5 Adastra, worth 108p per share. Adastra leapt from 86p to 120p. The bid is very good news for Prudential's M & G, which has an 11.1pc stake, worth £11m, and could make a hefty profit. But it all depends on how Adastra's board uses its 'poison pill' - which has yet to be ratified by its investors.
sivadnoj
22/1/2006
16:15
The ST have made an elementary error (30p not 40p rise) - doesn't say much in their favour, but these things are just so common, and can be found in RNSs, prospectuses, etc, etc. More to the point, all-share offers are often accompanied by discreet share support of the bidder's paper. It will be interesting to see if FQM's share price defies gravity for a week or two, despite any sell-offs which might be on the way in the wider market.
jonwig
22/1/2006
15:01
Rambutan, If you want my best guess First Quantum Minerals Limited TSE:FM will be forced to pay 150p for this. I personally hope their bid is successful, it will take a low Cash Cost Production Asset off the market and ensure long term profitable Copper prices. They also have the Infrastructure and Know How to make this project work. If they win this one can be pretty sure TSE:FM LSE:FQM will be valued at Antofagusta Plc LSE:ANTO Levels in 12 months time I reckon. If I were Adastra Minerals Inc TSE:AAA LSE:AAA I might well prefer a TSE:FM/LSE:FQM Paper bid as opposed to cash. Conversely TSE:FM LSE:FQM can always amend their offer to Cash, noting raising it will be easy for them, indeed with 220,000 Mt pa Copper Production possibly in 2006 equalling US$1,026,000,000 I would have thought they could finance it from cashflows with ease. All IMHO, NAG, DYOR etc Cheers Ash:)
mr ashley james
22/1/2006
13:41
agreed, completely unsophisticated comment from sun tel. but then newspaper columnists, like many fund managers, just want to book a nice profit without having to think too hard about it, and make sure that at end of year they've got it on record. meanwhile, the market is screaming to expect further offers. im certainly not selling any of mine, although im rather resigned to aaa being taken out at a price much lower than my long term expectations had been. the ball's now in mr reads court...
rambutan2
22/1/2006
12:01
What does the Sunday Telegraph know about arithmetic? They said "buy at 80p.... now it's 120p.... profit of 37.5 per cent." Now, if that's a 40p rise from the original 80p, I make that a 50% profit. Perhaps they really mean that the price now is 110p, which would be a 30p rise from 80p, which is 3/8, which is indeed a 37.5% profit. The Sunday Telegraph should check that their figures are consistent before they publish. Personally, I would like a much higher offer than the current one.
arf dysg
22/1/2006
11:36
Having read the above article,and being a substanial shareholder,I have come to the conlusion what does he know about Adastra !The share price is indicating that a higher price will forthcome.I believe this is my opinion that the present pathetic offer at present from FQM is to flush out the serious other party,whom I believe will surface in the near future.Time will tell,but there is no way I am selling out at these levels !
limor
22/1/2006
01:02
Sunday Telegraph Market miscellany Edited by Edward Simpkins (Filed: 22/01/2006) Adastra Minerals In May last year we recommended buying shares in Adastra Minerals (120p) when they stood at 80p, so readers who took our advice are sitting on a profit of 37.5 per cent. The company owns the world's largest cobalt and copper surface resource at Kolwezi in the Democratic Republic of the Congo (DRC). The resource is in the form of waste material from former mining activity which now fills several valleys and is expected to produce 5,500 tonnes per year of cobalt and 30,000 tonnes of copper. Last week Adastra received a hostile all-share bid from First Quantum, the London-based copper miner active in Zambia and the DRC. First Quantum argues that as a local operator it already has the skills, equipment and capital in place to bring the project into production cheaply, quickly and efficiently. First Quantum now has an established track record, and those who followed our advice to buy shares in the company at 206p in March 2003 are enjoying an amazing uplift of 800 per cent - the shares closed at £18.50 on Friday. Adastra shareholders should accept the offer.
gardenboy
19/1/2006
07:17
and this... http://www.resourceinvestor.com/pebble.asp?relid=16291
jonwig
19/1/2006
01:00
http://www.minesite.com/storyFull5.php?storySeq=3251
rambutan2
18/1/2006
19:44
Currently C$2.55 on the TSX, = £1.24
simon54
18/1/2006
19:22
rambutan, Agree with your take on this and likely buyout price. FQM is very different from the lumbering major that could swallow this up and shareholders would subsequently miss out on the probable upside. But with FQM there is plenty of growth to come - OK I'm biased because I hold FQM, but the combination would make a new powerhouse in that part of the world.
pecker1
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...
rambutan2
18/1/2006
18:34
Rambutan, Great Call well done. Cheers Ash:)
mr ashley james
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.
arf dysg
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.: +44 (0)20 7355 3552 Rothschild Charles Mercey Tel.: +44 (0)20 7280 5000 Canaccord Adams Limited Robert Finlay Tel.: +44 (0)20 7518 2777 Parkgreen Communications Justine Howarth / Cathy Malins Tel.: +44 (0)20 7493 3713 This information is provided by RNS The company news service from the London Stock Exchange END RSPEADFPFASKEFE
mr ashley james
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.
rambutan2
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.
mangal
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