Cape Lambert Iron Ore Share Discussion Threads

[divinausa1] 21/7/2008 08:40

nice 100k buy well over the offer

[divinausa1] 21/7/2008 04:51

Last Trade: 0.905 AUD
Trade Time: 1:29PM AEST
Change: 0.050 (5.85%)
Prev Close: 0.855
Open: 0.870
Bid: 0.900
Ask: 0.905
1y Target Est: N/A

Day's Range: 0.860 - 0.920
52wk Range: 0.250 - 0.870
Volume: 11,195,697
Avg Vol (3m): 2,933,040
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A%)



High volume again today and further rises

[stemis] 20/7/2008 17:19

I think my concern would be the quote in



It is therefore anticipated that Evraz will vote its 16% stake, plus another 3% of Cape Lambert already owned by Delong, to veto the MCC deal in ten days' time. In order to rally enough Australian shareholders for their support, Kavanagh reports today that "Evraz may make a tender offer to shareholders of Cape Lambert. We estimate that the tender offer may be at a price around the net proceeds (A$275 mln) that would have accrued to Cape Lambert post sale of the project to MCC."

Followed by

Kavanagh believes this investment is an exception to this rule. "We believe that Evraz aims to gain control of Cape Lambert to develop the Cape Lambert project and potentially use Cape Lambert as a vehicle for the acquisition of further interests in Australia

That doesn't suggest to me that shareholders will, short term, see much more than 38p a share. Of course when the project is developed they might but I wouldn't be too keen to sit as a minority shareholder in a majority Evraz controlled vehicle.

[petemorr] 20/7/2008 16:29

I'm very interested to see what tommorow brings....:)

[littlemadam] 20/7/2008 10:58

Cheers TMM.

As i commented, a move would have to come before the 28th July. What has not yet been mentioned here is that the Chinese might have other ideas and i will not be surprised if a bidding wars ensues.

[the metal man] 19/7/2008 00:09

Check this out, it offers yet more insight into the latest twist.

Evraz starts Cape Lambert Iron Ore play.

[littlemadam] 18/7/2008 12:02

Stemis

link into Metal Man's post 829

[stemis] 18/7/2008 11:58

I see company quoted as saying they will not sell for less than $1.20c per share.

Where is this from?

[the metal man] 18/7/2008 11:45

Since the exercise of the 56m shares the company now has 379,451,948 shares in issue which implies a mkt cap of around £151.78m. However, there are still options outstanding and judging by recent events and holders of those options, we can assume they are likely to be issued.

[littlemadam] 18/7/2008 11:11

can anyone help. what is current market cap of CLIO? I see advfn has it as £94m. Is this the complete market cap? Does this include the Australian shares?

sorry to bother you. I see company quoted as saying they will not sell for less than $1.20c per share. just wondering what this translates to in £p

[the metal man] 18/7/2008 08:16

There are articles somewhat more expansive on this including one from Bloomberg.

[divinausa1] 18/7/2008 07:58

Ambramvich

[stemis] 18/7/2008 07:37

CAPE LAMBERT IRON ORE LIMITED

Response to Media Attention

As a result of the recent media attention in respect to the substantial shareholder notice lodged with ASX and AIM on 17 July 2008, the Board of Cape Lambert Iron Ore Limited ('Cape Lambert' or the 'Company') (ASX:CFE, AIM:CLIO) confirms that it met with representatives of Merrill Lynch and Evraz Group S.A in Singapore yesterday, but has no information arising from that meeting that needs to be advised to shareholders at this time.

Its one of those statements that asks more questions than answers them. It was followed by another announcement that "Cape Lambert Iron Ore Limited ('the Company') (ASX: CFE, AIM: CLIO) received notification today that, following the exercise of 56,050,143 options on 15 July 2008 for consideration of A$15,525,889.61, Merrill Lynch & Co., Inc has a relevant interest in 60,726,735 Ordinary Shares in the Company, representing 16.0% of the Company's total voting rights.".

The implication is that Evraz have an interest in these shares. Evraz are a huge, vertically integrated, Russian iron ore mining and steel production company.

[chartsmart] 18/7/2008 05:41

littlemadam it is just market malaise and heavy shorting over here, for a lot of popular companies a spike from good news is just another shorting opportunity. 50% of the reason I have so many of these is because the are dual listed in Oz. I thought with all options coverted and cash paid and costs thrown in we might have something around 44p on the MCC deal, but with another bid who knows. I wonder if MCC will start picking up shares.

edit 43p ish new high in Oz and volume picking up.

[the metal man] 17/7/2008 23:11

You're not on your own. When trying to value the company in the light of the sale of the project, I found it hard to understand why there were so many cheap options outstanding including a block of some 56m. If they were going to be converted, it had to be before the 28th July to benefit but at the same time, although profitable it would be hugely diluting. It would seem we might now have our answer.

[littlemadam] 17/7/2008 22:35

petemorr.

once again, well spotted. The meeting will now have taken place, so an RNS should be likely a.m. tomorrow (?).

Seems to me there are just a few of us monitoring this stock. If this sort of news was happening with the more popular stocks the share price would be rocketting. You think so?

[petemorr] 17/7/2008 13:23

never mind...i've done that before (sigh)......i'm still hanging in....we'll see..

[littlemadam] 17/7/2008 12:34

sold out of LRL a few weeks ago, just got fed up of waiting. Then it started to rise. Typical!

[petemorr] 17/7/2008 11:07

yeah - thats often seems to be a good sign :)
I'm also in and watching leyshon resources - same kind of deal, waiting, waiting waiting, waiting....

[littlemadam] 17/7/2008 09:28

me neither, just trying to read things. pity CLIO so much below the radar of many.

[petemorr] 17/7/2008 09:21

yes - i think its 28th july. Your point makes sense to me but I'm no expert! ;)

[littlemadam] 17/7/2008 08:53

pete. unlike Stemis i am thinking of buying more as there is clearly another party interested other than the Chinese Co. I figure it could/must show its hand before the shareholders meeting to approve sale. Is that meeting on 28 July?
Does that make sense?

[petemorr] 17/7/2008 08:44

Littlemadam...thanks :)