Central African Mining Share Discussion Threads

[the jackel] 14/9/2009 14:35

Soz guys I really don't think CFM is fully valued if anything it is currently undervalued and should be more around the 28p mark. If it was over valued why would four/Five big mining giants be interested. Great company, great fundamentals and great Resources (Cobalt) that the big miners want.

Buy this and fill ya boots!

[strangeglow] 14/9/2009 13:49

yeah maybe you will be able to afford some dental surgery on your rotten hampsteads?

[midasx] 14/9/2009 13:48

lol! FULLY VALUED !

[herman_toothrot] 14/9/2009 13:14

It appears the market feels the company is already fully valued and therefore that any takeover would be unlikely to be at much of a premium to the current share price.

The other possibility is that the market is not convinced that a takeover will go ahead.

Either way,let's hope that the market is wrong in this instance.

[dealy] 14/9/2009 13:01

strange that this is not responding to the press reports of an imminent deal.

Volume is low as well.

Just topped up.

[unidine] 14/9/2009 11:32

thanks BMN.

[b m n 1] 14/9/2009 11:00

L2.........

[ceckyspunt] 14/9/2009 09:42

see AXM today...

hard to get any quantity of AXM at the moment, on a rocket ride!

[unidine] 14/9/2009 09:39

Level 2 anyone?

[pinkkasti] 14/9/2009 09:06

wish I'd taken a snapshot of level 2 just now.....phewee

[dealy] 14/9/2009 08:27

Should have added more this morning at 19.5p. Still half asleep.

[geng] 14/9/2009 08:23

from the weekend press article - looks like news next week.

Real no-brainer now with at least 3 company's trying to buy us.

30p ish by the end of this week?

wow quite big early volume - maybe by the end of today ??

[dealy] 13/9/2009 21:55

It's cheap anyway even without a takeover premium. These shares never ever ever in a million years should have fallen to 2p. They didn't even have any debt.

£58m market cap in January. They will probably make £100m in net income next year.

[topinfo] 13/9/2009 21:13

Here we go Guys got it.!!!

Kazakhs join mining bids

From The Sunday Times September 13, 2009 - Digest

"...ENRC, the Kazakh miner, is in advanced takeover talks with Camec, the Congo group run by former cricketer Phil Edmonds.

According to sources, discussions have "advanced significantly" since Camec announced in July it was talking to multiple anonymous suitors, though they said expectations of a deal being announced this week were "premature". Camec is continuing to negotiate with Brazil's Vale and the Chinese..."

[saltaire111] 13/9/2009 19:40

Surely any offer needs to be at 50p or why would anyone wish to sell?

Hopefuly Edmunds will not shaft shareholders with a back door deal but I'm not holding my breath.

Salty

[the jackel] 13/9/2009 17:59

I wish there was a RNS 7.00 AM 2moz Doc Robinson but I think we will have to wait another week or so. I hope your right!

[doc robinson] 13/9/2009 16:52

rns 7.00AM ????

[the jackel] 13/9/2009 16:08

Dealy

Good point. I really do think we will see an offer of around 30p per share from ENRC and then I think we will have numerous counter bids from Vale and the Chinese and I think we will be looking at a takeover share price of anywhere 50p plus.

Good luck all!

[dealy] 13/9/2009 15:43

jackel

Many thanks. I think this is highly significant. It says to me that ENRC want to get the deal done but Camec might be holding out for a better offer from Vale or the Chînese. Would expect these to be 22p tomorrow.

Incidentally, if Cobalt and Copper prices (never mind platinum, coal and other resources that Camec own) hold up then 26p is way too low. They were 60p just 15 months ago.

[doc robinson] 13/9/2009 15:10

should open stronger monday

[the jackel] 13/9/2009 15:01

I know the above is nothing new but I just liked the tone of it and also the bit that said talks have advanced significantly.

[the jackel] 13/9/2009 14:57

Dealy No its was in Todays Sunday Times on page two of the business section. Sorry guys can't find the electronic link but it said the following word for word:-

ENRC,the Kazakh miner, is in advanced takeover talks with Camec, the Congo group run by former cricketer Phil Edmonds.
According to sources, discussions have "advanced significantly" since Camec announced in July it was talking to multiple anonymous suitors, though they said expectations of a deal being announced this week were "premature". Camec is continuing to negotiate with Brazil's Vale and the Chinese.

[dealy] 13/9/2009 14:45

Unless you are referring to this from Sept 9th:


Separate bedrooms must be the reason Europeans divorce far less than we do Matt Rudd

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Home Business Markets MY PROFILE SHOP JOBS PROPERTY CLASSIFIEDS From The Times September 9, 2009

Camec buoyed by bid talk
Smaller companiesPeter Stiff

Recommend? (7)
Are the stumps about to be pulled up at Central African Mining & Exploration (Camec), the miner run by Phil Edmonds, the former England spin bowler?

Shares in the group gained ¾p to 18¾p amid renewed speculation that ENRC, the Kazakh miner, was on the verge of launching a bid.

It is believed that ENRC had been due to discuss a deal at its last board meeting but that the discussion was postponed because of management changes within the Kazakh group.

Industry insiders suggest a bid could be made at about 26p per share and note that any ENRC approach would be likely to lead the Chinese, who currently take a large proportion of Camec's cobalt production, to launch a counterbid.

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Camec confirmed in July that it had received bid approaches. Vale, the Brazilian group, is also thought to be interested in making an offer.

ENRC is said to be considering a further offer for African Minerals, up ½p to 320½p.

[dealy] 13/9/2009 14:38

Jackel or Topinfo

Didn't see that today on the online edition. What does it say exactly?

Surprising that this sold off on Friday afternoon. I bought back some previously-top sliced shares at 19.5p on Friday afternoon. Hope this news comes out soon.