Antofagasta Share Discussion Threads

[eddie88] 29/11/2007 16:07

AAL gone into auction ! mmm Anto climbing a bit now

[eddie88] 29/11/2007 16:01

Looking at the size of the mining in question for the gold, copper and silver

Gold alone would provide at $750 rate $171750000 per year! and its valid for 10 years whatever gold price maybe.

I think the market has woken up to appreciate the massive potential ahead.

[dsb104] 29/11/2007 13:52

Yep, at least we are up. If (when) Fed cuts interest rates in Dec, gold price will rally, stocks will rally. Ultimately, ANTO will rally.

[eddie88] 29/11/2007 13:17

Ahh, so theres the news...interesting nothing new re stake.

Blimey the share price has been going like a yoyo and it looks if has hit beyond my buy price for the first time since I bought them (for a second or so)! Hopefully it will surpass very shortly

Interestingly though share price for VED is up approx. same percentage (there has bid rumour going around) Considering the rest of the market is debating what the US is going do today, I think the market is guessing either Anto and VED is up for the bid.

[yakin] 29/11/2007 09:57

LONDON (Thomson Financial) - Antofagasta PLC said it is considering offers from companies willing to take a minority stake in the company's Esperanza copper-gold project being developed in Chile.

The FTSE-100 company is large enough not to require partners in the 1.5 bln usd project, but has been approached by companies interested in taking part. "Antofagasta has been speaking with various parties," a spokesman said, adding the company is exploring all options. He declined to disclose the name of the companies involved.

Esperanza, which is close to the group's El Tesoro mine, is expected to start producing copper in 2010 and molybdenum from the end of 2016. In its first 10 years of operation, Esperanza is anticipated to produce an average 195,000 tonnes of copper a year, 229,000 ounces of gold and 1.56 mln ounces of silver.

[dsb104] 29/11/2007 09:01

Well at least we are up 5%. Next stop 800p.

[eddie88] 29/11/2007 08:33

Its showing same on m.am as well.
A little confused actually cos they have already announced the 3rd quarter production last month

[dsb104] 29/11/2007 08:30

Sorry, i got the calendar from yahoo finance, and it says Q3 results should be announced today. So dont know whats going on.

[eddie88] 29/11/2007 08:21

mmm, strange no interims annouced. Has someones got the dates wrong?

[bushtuckaman] 28/11/2007 23:31

Yes still in, I nearly did bale but held on for some crazy reason. About broke even tday, so will see what tmrw brings. Maybe unload tmrw into a nice rise, hears hoping

[eddie88] 28/11/2007 22:08

are you still holding then bush, i thought you may have bailed out after a horrible drop when it turned during monday afternoon

[bushtuckaman] 28/11/2007 21:47

What a stonking day on the market! Looks like the Septic's didnt stitch us up this evening, so some more fun tmrw with some good figures.
Good luck all.

[dsb104] 28/11/2007 21:21

Neither did i until after i put my spreadbet on and mkt was closed. I think the price should be high 700's to low 800s, which put 10-15% on the current price. Fingers-crossed.

[eddie88] 28/11/2007 20:10

dsb, I didnt realise interims was tomorrow! Is it 1st interims, how impressive do you think it will be?

[dsb104] 28/11/2007 20:02

Yes hope so. Interims tomorrow. Be nice if they announced bid talks or something. But i just hope for better profits. Gold also bounced after the london close tonight too.

[eddie88] 28/11/2007 20:02

Re bloomberg how come there has not been an rns official announcement? It quite a possibility that there may be more to it, a bid for company.
I think a few months back the family had cut their stake of the company share
Interesting development going to behind closed doors.

[eddie88] 28/11/2007 17:47

Lovely bounce today 900p here we come!! (I hope ;-0)

[grgkecer] 28/11/2007 15:39

Antofagasta Considering Offers for Stake in Chilean Deposit

By Heather Walsh

Nov. 28 (Bloomberg) -- Antofagasta Plc said it is studying offers from companies seeking to buy a minority stake in a $1.5 billion copper mine it plans to develop in northern Chile.

London-based Antofagasta doesn't require a partner to move ahead with construction of the Esperanza deposit, set to start next year, Adolfo Yanez, an Antofagasta spokesman, said in Santiago today. He declined to say what companies made offers.

[slogsweep] 28/11/2007 15:23

Bloomberg just reported Anto considering a bid for a stake in its Chilean ops - China perhaps?

[grgkecer] 28/11/2007 11:19

Some information on Reko Diq:




and

[eddie88] 27/11/2007 19:21

I was so temtpted to get more at 656p to bring my average late today but bailed as i could not understand why the miners never recovered when DOW was on a run. They seem to be out of favour today. Volitile
Still waiting to break even! Let see what tomorrow brings.

Looking at the DOW does anyone think we are nearly out of the woods yet? Bull run switch on for Christmas rally?

There may be a slow down in US but China is consuming all commodoties, realistically the consumption won't have changed, so I cant understand problem!

[iangill] 27/11/2007 17:29

Same problem bidding for Anto as Vendata, large private family holding, so can't just bid high must convince the family to sell, would need a big premium to convince them I think.
So whilst it is unlikely to be taken out it would be a big gainer if it did accept a bid.

[eddie88] 26/11/2007 13:13

mm, Looks like the market is sh#tting itself ahead of US market...:-(
I agree the market needs to sort itself for the run up to christmas.

I was in at 753p thinking it would bounce of 50DMA like it normally does, unfortunately for me its been volitile bug'er this one for the past few weeks while still holding with thinking of bailing out on a few occassions.

I am hoping this will surpass the 690 by end of the today which I think will be crucial for the bulls.

With regard to potential target, I am not really sure how this company operates in Chile. Am I right to say that they own all mines in the country and with share of mines operated by different mining firms?
For some reason market appears to think that Anto could be become a target?
Has there been rumours in the past prior to RIO/BLT?

The way I see price of commodities which are all priced in Dollars. Considering it is weak the demand for should be high to compensate the currency difference, like the price of oil has done. I am quite surprise the effect has not happened as much as oil or gold.

[bushtuckaman] 26/11/2007 11:53

I more an investor but I do like to trade this one to be honest Eddie, so i'm looking for around the 770-790 area. It will all depend on how the wider markets pan out. I may not be holding at the end of tday if I dont like the way the dow looks later.

Also there has gotta be some takeout potential here, so if I decide to hold longer there is that potential also.

What are your thoughts Eddie?

[eddie88] 26/11/2007 11:33

Whats your target bush?