Central African Mining Share Discussion Threads

[max101] 18/9/2009 15:27

they don't have 55% . they potentially have 55% if you include some non binding assurances.

[boonboon] 18/9/2009 14:56

I still beleive ENRC are getting a great deal. Is it worth investing in them? i already have a stake in Kazakhmys so have exposure to ENRC that way.

[darklord2] 18/9/2009 14:50

Lol ENRC have 55% what counter offer!!

[boobly] 18/9/2009 14:48

Those people who were calling mega mineral value , and share prices up to and even beyond 50p look a bit daft now .

I`m happy enough with my return , and frankly ,
mighty glad to be out of The Congo .

Thank you Camec , and Goodbye .

[max101] 18/9/2009 14:42

crazy. why would you risk missing out on potential counter bid by selling for less than you would get if the current offer was accepted.

its a no loose situation if you hold.

[max101] 18/9/2009 14:25

crazy. why would you risk missing out on potential counter bid by selling for less than you would get if the current offer was accepted.

its a no loose situation if you hold.

[geng] 18/9/2009 14:22

Max101 that 3 Mill at 19.6 would have been a sell.

you can sell at 19.6 even now and 19.75 if your really lucky

[fountains] 18/9/2009 14:19

Does this mean no more Eish?

Eish!!

[max101] 18/9/2009 14:05

geng,

i was taking facts.

You are obviuosly doing the math based on things like "letters of intent"

lol. i wonder how they would standup if the chinese bid 25p. wonder if those intentions would change then .....

[dr jekyll] 18/9/2009 14:03

Ok. You can delete it now. Will email you.

[max101] 18/9/2009 14:00

someone just bought 3 million at 19.6. thats about 600k. you think they are going to tie up that amount for x weeks just to make 7.5k profit.

unless i've missed my 3rd coffee and my math sucks that not a typical big trade tactics. my gran could make more than 7.5k profit elsewhere.

someone else interested and counterbid looming.

???

[dr jekyll] 18/9/2009 14:00

I'm here josels.

[thearcticfox] 18/9/2009 13:59

I think it's a done deal max, but I like your enthusiasm flogging the dead donkey and hope your theory proves correct.

[geng] 18/9/2009 13:59

Max101 you're well out of touch here. They have 55%+ inc Gertlers. All confirmed in RNS's - try reading them?

"•THE AGGREGATE NUMBER OF CAMEC SHARES HELD BY ENRC AS AT THE DATE OF THIS ANNOUNCEMENT, THROUGH A COMBINATION OF IRREVOCABLE UNDERTAKINGS, LETTERS OF INTENT AND ON- AND OFF-MARKET SHARE ACQUISITIONS IS 1,584,566,487 REPRESENTING APPROXIMATELY 55.18 PER CENT. OF THE EXISTING ISSUED SHARE CAPITAL OF CAMEC."

[max101] 18/9/2009 13:56

why was someone spouting boll$%^s earlier about them having 55% already or something and the deal had to go through ......


"ENRC said it has already acquired 28.73% of CAMEC's outstanding shares, including the bulk controlled by its biggest shareholder, Israeli businessman Dan Gertler. "



huge amount of buys going through at the mo just under 20p. could someone else be mopping up prior to counter bid

So what happens if the chinese come in with say 25p per share offer especially if they are the ones mopping up the current sells. .

can't see 20p would be accepted then.

[josels] 18/9/2009 13:52

Dr Kelly
wait I will make one now.
Rgds

[dr jekyll] 18/9/2009 13:47

Josels, do you have an e-mail address you can put up?

[dealy] 18/9/2009 13:44

Everybody involved with or invested in this company has realised that the DRC knocked a lot of value off the company. If Camec's assets were in the West this would have gone for a lot more money imo.

[wizzkid211] 18/9/2009 13:27

Central African accepts 20p per share ENRC offer
Business Financial Newswire
Eurasian Natural Resources Corporation and Central African Mining & Exploration Company have reached agreement on a 20p per share cash offer for CAMEC.

The offer values the AIM-listed company at around £584m. It represents a premium of 67% to the closing price of 12p on July 15, when the first approach was made by ENRC.

The CAMEC board will unanimously recommend shareholders accept the offer.

ENRC's CEO Felix Vulis said, 'The attractive assets of CAMEC fit well with our strategic ambition to grow and diversify ENRC.

'CAMEC offers all of our key requirements including scale and scalable assets, low cost and extensive growth opportunities. We firmly believe that CAMEC offers value accretion for all shareholders.'

ENRC says CAMEC gives it:

- access to large copper/cobalt resources in the Democratic Republic of the Congo with the potential to support significant, scalable, low-cost production capacity;

- entry into copper, a metal with 'attractive fundamentals';

- a portfolio of development projects in commodities including coal, platinum and bauxite;

- the benefits of an integrated African logistics business.

It says the offer can be funded through ENRC's available cash resources.

[jackal2] 18/9/2009 13:25

so what happens now..

[josels] 18/9/2009 13:15

All the best Dr Jekyll, which shares do you support? thanks
I am more than 70% cash and thinking to short AQP.

[dr jekyll] 18/9/2009 13:13

Well I have enjoyed reading the thread and having now sold out will be looking elsewhere. Good luck and thanks to those who have ben giving invaluable help today and over the lst few months. It has been appreciated.

Will be reading the thred for a while mind you to keep an iterested eye on things.

[darklord2] 18/9/2009 13:12

I think we have to realise DONE DEAL..!!

[geng] 18/9/2009 13:02

So that's it they have confirmed that they have Gertlers shares:-

"•ENRC SAYS HAS PURCHASED ALL SHARES HELD BY MAJOR CAMEC
hareholder dan gertler"

No point in hanging around now - anything above 19.5p will do me