Central African Mining Share Discussion Threads

[zed2002] 16/9/2009 17:45

I think this is going to be a hot topic tomorrow. Definately gonna see some rns from CAMEC to comment (hopefully). I hoping that other potential bidders make bid hopefully by Monday.

[ray164] 16/9/2009 17:40

This statement by ENRC seems designed to put a ceiling on the price so as to ensure the market does not price CAMEC above what they (ENRC) want to pay for it. The tactic may well succeed as many speculators will now lose interest but I cannot imagine that a company with this potential will go for 20p per share.

What it has done is to put ENRC in a weak position relative to other interested parties as it has now shown its hand.

We have to hope that the statement flushes out some other bidders.

It would be interesting to hear what CAMEC have to say about things.

[dealy] 16/9/2009 17:19

"Vale" was a mistake. He probably meant ENRC.

The market is going up so fast at the moment that the bargaining power is in the hands of Camec.

Dow powering ahead again just now.

[boobly] 16/9/2009 17:16

Fruiticus :....Thanks !

[boobly] 16/9/2009 17:02

Can someone point me in the direction of this `Vale` / 20p news ?
TIA .

[chilled_flame] 16/9/2009 16:55

Wasn't there some rumour on Alphaville last week about the chinese offer of 30p and 30% stake being declined?

Regardless, should be a fun few days ahead.

[spike33] 16/9/2009 16:49

Really cannot them agreeing to 20p. But can see that the bids are serious and this is not a smoke screen. Lets see what the next few days bring - hopefullly counter bids. All the best all.

[geng] 16/9/2009 16:49

There are upto four companies interested this is just the opening bid!

Wait for the TT announcement that they picked up all the shares that were dumped at the close today and that they now own 5% !!

[josels] 16/9/2009 16:45

Well 20p news from Vale (still preliminary)
I guess we need update from cfm, how many biders, what are they bidding for, and their recomendation/s.

[larsson2] 16/9/2009 16:44

Well that's a bit disappointing. All this time (8weeks ) just for 20p! Rumours have it that its for a 30%stake though the CFM July rns stated entire shareholding. So a bit unclear so far.

Would like to think its for a 30%stake after a 2 month dd unless they found something to the detriment of any increased offer. The next few days will unravel some mysteries but I suspect the price will drop now temporarily.

[dealy] 16/9/2009 16:40

I assume it would be for the whole company.

Hey, if that's the worst case, then 20p it is. Take the money and invest in something else.

[spike33] 16/9/2009 16:38

Sure they walked away from an offer a few years ago that was not to their liking. Any comments on if the 20p is for 30% of the shares or the whole lot. Thanks in advance

[dealy] 16/9/2009 16:24

We should get financial results any day now. If the board thinks the company can make £150m net profit next year then there won't be any sale at 20p and the shares will go up on their own merit.

If Gertler /Praire don't accept (they own 35% or so) then there'll be no sale period.

[spike33] 16/9/2009 16:23

More cheap stock for TT to pick up.

[nicolato3] 16/9/2009 16:22

only 500k at 19 now

[davius] 16/9/2009 16:19

Yes LDM, at least it means you won't get Vale and/or other coming in at 19p, lol.

Personally, I think this will get the Chinese moving, as they've just signed an agreement for the Cobalt and will likely want control.

Sell orders stacking up seriously now, 16.5m with 3.1m at 19p.

[manners2] 16/9/2009 16:17

if it was a floor to the bidding war the stock would be trading at 20p you muppet

[ldmachin] 16/9/2009 16:15

As others have mentioned. We now have a confirmed FLOOR to the bid war, 20p... which is good.

[davius] 16/9/2009 16:13

I think he was being ironic larson...

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

Totally agree the Bull3! This gives people time to digest the news and the share price will slowly rise. 20p Just sets the foundation level and sets a benchmark that the others miners can use to gage their offers around.

[spike33] 16/9/2009 16:12

The article earlier did say they were after a stake.