Carlton Res. Share Discussion Threads

[papillon] 06/5/2008 17:09

Yes it looks like WTN and CBM will both open higher tomorrow as WTN continues to rise on TSE after London's close. Hence CLN should open higher tomorrow. I'm hoping for better than 3 to 1 pbracken but accept we wont get it!! I seriously think we wont get less than 3 to 1 but what do I know? Very little!

[adda] 06/5/2008 17:08

You have to guess their nav must now be in the region of 260 - 270 million?? Against mkt cap of 154 million?? Trading at massive discount even if you allow for 20% discount to nav....must be worth at least 2.00-2.20 a share, caveat WTN's price of course!! I'm off to buy more CLN for some strange reason....

[pbracken] 06/5/2008 17:00

WTN is trading at 570 cents in Canada. Just put that in perspective, CBM's shareholding in WTN is alone worth 250p a share. If it goes on like this, we'll be lucky to get 3 for 1.

[papillon] 06/5/2008 16:14

pictureframe, no one can expect to invest long term in a particular share. There are always predators on the look out to grow by take overs. I must admit though that CBM will get CLN on the cheap. But as its likely that CLN will form the core of the re-jigged CBM I should keep your CBM shares. I think it likely that a sale of WTN stake will mean CBM returns cash to shareholders. All very good for CBM share price

[pictureframe] 06/5/2008 16:04

pbracken - yes I will be holding until the end game but having such a major holding CBM can push it through regardless I think - UNLESS UBS continue to buy whats out their and oppose it? Still its nice to see th share price blue again ;0)

[pbracken] 06/5/2008 15:59

The deal will require shareholder approval, picture - that might take a month or so. In the meantime, there is every possibility CBM will sail much higher - 200p is easily within reach. And if CBM goes up, CLN has to follow. So, my advice would be to stay in and enjoy the ride.

[pictureframe] 06/5/2008 15:55

What pi##es me off more than anything is I have held this share for over 3 years as I wanted to invest in THIS COMPANY-LONG TERM. I didnt want anything to do with CBM , if I did I would have invested in them! So it now appears that I will be rail rolled in to accepting their deal regardless if other shareholders dont want it. Well as soon as they deal is announced I will be out of this. I am only holding as the deal offered will at least be at a premium of current SP

[reghollis] 06/5/2008 15:52

William Durand Eppler, (Chief Executive Officer) your company needs you.

[captain kurt] 06/5/2008 15:49

60p with WTN in the stable would be acceptable imo

[papillon] 06/5/2008 15:49

You are correct pictureframe.

[pictureframe] 06/5/2008 15:47

lefrene - 6 May'08 - 14:19 - 2359 of 2362
I dislike all this uncertainty, lets see the trading update!

Sorry but no chance of that until AFTER the deal has been done -we are all being stiched up simple as. CBM will get this for nowhere near what they SHOULD be paying and thats £1+ imho

[captain kurt] 06/5/2008 15:43

CBM could reach 180p within days.
3:1 ratio gives CLN share price conversion at 60p!

[papillon] 06/5/2008 15:33

CBM's really going great guns. I really think the terms of the offer cant be far away now since the CBM share price is finally rising towards its real worth.

[papillon] 06/5/2008 15:21

CLN's asset value was 57p at 31/6/07. It must be a lot higher now bearing in mind the increase in coal prices and the rise in investments, NEMI and EBG. I wouldn't like to guess at CLN's current asset value but its probably > 80p. I somehow dont think CBM will offer anything like 80p, and it looks like the market agrees, but they should. I agree with those posters who say CLN is worth £1 but I don't think we will get it from CBM.

[lefrene] 06/5/2008 14:19

I'd like to know who UBS have been buying for. For their own account or holding for someone else? If those figures someone posted earlier are correct and the appalachian mines are in for a mere $22million it suggests coal going for 40cents a ton at 56 million tons in the ground. Mind you somewhere months back I'm sure I read 110 million tons being suggested as likely reserves. I dislike all this uncertainty, lets see the trading update!

[papillon] 06/5/2008 14:13

CBM starts to tick up again and now we start to follow.

[papillon] 06/5/2008 13:10

I agree with you pbracken, the most knowledgeable poster on this site. Of course CLN is tracking CBM. Both are up around 7% this morning following the WTN rise. When CLN stops tracking CBM, and starts to out pace it, then you know the bid details are due to be announced!! As pbracken states its pretty much a done deal; just working out the terms.

[reghollis] 06/5/2008 13:03

Assuming CLN holders want to hold CBM.

[pbracken] 06/5/2008 12:52

GB - the deal is pretty much a done thing, so CBM and CLN are yoked whether you like it or not. Forget the relative prices of the stocks; focus on the conversion. Just as this BB has a range from 2:1 to 4:1, so the interested parties have their own targets. I think the safest assumption and likeliest outcome is 3:1. I doubt CBM will buy it for less, and an offer above it would be a bonus. So, assuming 3:1, CLN is currently pricing CBM shares at c128p, making it a bargain route into the latter - and a better bargain the more CBM advances.

Well, that's how I see it.

[adda] 06/5/2008 12:31

Shame its popped just asked for a price in 25K 41.5 - 40.75 i bid 41 and now its gone north....will just have to wait for the street to have a drop & FTSE give back 100 pts or so.

[gb904150] 06/5/2008 12:27

All this talk of CBM rise being good for CLN holders - no it is not.

No deal has been agreed - if it had then yes, we would be tracking CBMs price.

As it stands, no deal has been agreed by CLN holders. The lower CBMs price the better conversion CLN:CBM we get.

That's why I want an update from CLN, but CLN aren't acting in the interests of PI's or insitutional holders. They are acting in CBMs interests. Because they are CBM.

Disgusting....but also disgustingly cheap.

[captain kurt] 06/5/2008 12:23

CBM don't want CLN to issue any trading updates...the share price would go straight to 60p...
then they will would have to do the deal at 80p

[lefrene] 06/5/2008 12:23

Someone must have heard you Volvo :¬). Thats certainly what it feels like reghollis. Where are the trading updates? Why should the privileged insiders be the only ones privy to this necessary information?

[reghollis] 06/5/2008 12:20

And CBM are trying to steal it from us.

[lefrene] 06/5/2008 12:13

Kicking and screamimng No No No it gets back to 40p. I agree Volvo, CLN looks like the cheapest coal play on the planet.