Carlton Res. Share Discussion Threads

[captain kurt] 08/5/2008 10:33

Interesting...thanks Macansy77

[macansy77] 08/5/2008 10:30

EVO's may be working it - have been contacted directly (via broker) twice this morning with them bidding for stock at very close to the mid...

[blueblood] 08/5/2008 10:17

Looking at the trades it appears we have a large buy order being worked imho. CBM have hit £2 as well and I'm hoping for a 3 for 1 by end of next week.

[captain kurt] 08/5/2008 10:08

Still the cheapest way into CBM.
All will be revealed soon imo

CBM over £2

[tamtoni] 08/5/2008 09:41

Reg (2437)
(i) It doesn't have enough cash to take it over (on my conservative numbers it would be taken out at between £1.25bn and £2bn);
(ii) Audley would probably not allow it to take it over - they want payback from their long and stalwart support over the past few years;
(iii) They have said that they want to own outright their production; and
(iv) The management probably want to have a significant success as a prelude to their retirement.

: edited

[reghollis] 08/5/2008 09:35

This is more than the Ft article.

[dannyboy123] 08/5/2008 09:20

looks like we may be playing catch up, this is the rise we should have seen yesterday! 50p at the close would be lovely...

[budevenwiser] 08/5/2008 08:48

small writeup in the ft , cbm to offer 60p

[reghollis] 08/5/2008 08:29

Whats the jump for?
Bid on its way or playing catch-up?

[reghollis] 08/5/2008 08:05

Why does CBM want to sell?

[reghollis] 08/5/2008 07:51

PB wasnt this already known?

[pbracken] 08/5/2008 07:50

The news from WTN is staggering in its implications. WTN cannot fail to double in value in the coming months, which in turn means one thing only: a CBM share price well above 300p.

[grippa] 08/5/2008 07:18

Western Canadian Coal Announces Update on 2008 Coal Year Prices


Vancouver, B.C. May 8, 2008 - Western Canadian Coal Corp (TSX: WTN, WTN.WT and
WTN.DB and AIM: WTN) announces that is has negotiated a majority of its 2008 coal year contracts for its hard coking coal at an average above US$300 per tonne, which is approximately 365% higher than prior year contract prices. The Company has also negotiated a majority of its 2008 coal year contracts for its low-volatile PCI coal at approximately US$248 per tonne, which is 350% higher than prior year contracts.


The record prices we are selling our coal for this year represents the high
quality coal the Company produces, states John Hogg, President and CEO of
Western Canadian Coal Corp. With completion of our 2007 coal year carry-over
tonnage in early May to be sold in this current coal year, the Company should be producing significant cash flows shortly. And considering the under utilized
capacity of the rail lines and port that the Company uses, we are in a good
position to sell all the metallurgical coal we can produce this coal year at
these record prices.


John Hogg continues, Given these prices, the Board has substantially increased its expectations for long term coal pricing and has begun the exercise of
reevaluating the long term resources and reserves which are economic given the
much higher price regime. A further update will be provided in due course

[deep powder] 08/5/2008 07:16

Sorry, also meant to say I think it would be appropriate for CBM to comment on these rumours or we are in danger of a false market...

[deep powder] 08/5/2008 07:15

Good spot....Nice update from WTN today, can we read that through to the prices CLN will achieve.??

[bubface] 08/5/2008 06:53

F.T.
Cambrian talk lifts Coal Int
By Peter Garnham

Published: May 8 2008 03:00 | Last updated: May 8 2008 03:00

Coal International , a US producer, rose 4 per to 44¾p yesterday on rumours that its 34 per cent shareholder, Cambrian Mining , was set to offer 60p a share in stock.

Western Canadian Coal rose 12.5 per cent to 302p after completing the purchase of Fall Mountain Coal from Cambrian, which was up 7.9 per cent at 185p.

[captain kurt] 07/5/2008 22:22

pbracken..your right on the money imo

[bubface] 07/5/2008 18:46

3 for 1 gets it done with nobody backing down as things stand at the close.institutions get their 60p,cbm are using their paper more effectively after the spike.come on shake on it.

[pbracken] 07/5/2008 18:41

You have to factor in the fact that CBM wants CLN; that is, if it plays fast and lose it'll be in danger of scuppering a deal that could benefit both companies enormously. So whilst I understand the cynicism of most CLN shareholders, I don't buy it completely.

What's more, a retreat from a deal would be deeply embarrassing for Burridge, and let's face it he can't afford another one after the fiasco of the delayed accounts. So, I reckon CBM will pay a decent premium to the current share price - probably 60pish, and the conversion ratio will reflect it.

The important thing is that in relation to the share price, the risks are emphatically to the upside.

[bubface] 07/5/2008 18:34

looking at the directors holdings here is interesting the only executive director holds none,the two non executives 100,000 each,but then with incentive shares [options i suppose] ceo gets 250,000 and the non executives 1m each...wonder whose on the renumeration committee? never seen a company where the non exec's get four times the incentive than the exec's!!

[ppowerscourt] 07/5/2008 18:11

A man (showing) true to his conviction---bubface, post 2422. Cheers.

[papillon] 07/5/2008 17:36

Interesting points Tamtoni. Though I still think CBM have a ball park figure in mind for CLN (60p seems as good a guess as any) and the reason for the delay, apart from CBM dragging their heels in anticipation of their share price rising, is that the independent director and his advisors are driving a hard bargain on behalf of the other (CLN) institutional shareholders bearing in mind the increase in the coal price (both met and thermal) and the increases in CLN's investments, NEMI and EBG. Perhaps they are holding out for, say 75p. I dont think the bid terms, when announced, will be a simplistic multiple like 4 for 1, 3 for 1, 5 for 2 etc but something like 1 CBM share for 3.72 CLN if, say, CBM closed on 223p when the bid is announced.