Cerillion Share Discussion Threads

[mad jack mcmad] 28/9/2007 11:03

1.7 million at 2.70 - looks good.

[tsmith9426] 28/9/2007 10:32

whats x trade guys

[tsmith9426] 28/9/2007 07:22

thats what we needed this could be fun now

[sagem] 28/9/2007 07:14

A BIDDING WAR IS ABOUT TO TAKE PLACE....SO ANOTHER COMPANY IS INTERESTED SHOULD PUSH UP THE SHARE PRICE////STAND BY FOR ACTION


RNS Number:6917E
Celtic Resources Holdings PLC
28 September 2007




Celtic Resources Holdings Plc
("Celtic" or "the Company")

Announcement of Approach


The Board of Celtic announces that it has received a preliminary approach from a
party other than Severstal, which may or may not lead to an offer for the
Company.

A further announcement will be made in due course, and in the meantime
shareholders are urged to take no action at this time.

[tsmith9426] 27/9/2007 17:06

theres our answer to how they got the 2m plus the other day

[wolstencroft] 27/9/2007 15:01

Yes, it odd - if the buyers pull out then all us PIs are saying its worth well north of £3 and if they sell we get as least what we paid to within 1 or 2%

[zolota] 27/9/2007 13:29

Thanks for the article. However there are still no punters for this low risk one sided opportunity. I must admit I also haven't added to my position but it does feel very tempting.

[mad jack mcmad] 27/9/2007 12:48

Minesite article, interesting, ends
Kevin Foo, the chief executive, is non-committal on whether a counter bidder will appear. The Celtic share price is telling us little, but the betting has to be that now the company is in play someone else will appear. The Russians may find it would have been wiser to open with a more generous offer. Either way Celtic shareholders could be in for a nice present well before Christmas.



Free subscription, guess most people on this board will be subscribers, well worth it if not,

[tsmith9426] 27/9/2007 09:46

agree with you pp, dont think Mr Foo is the citys favorite person at the moment, id say a price of 280 will not be far of the mark,ive seen a valuation of 3.90 put on these, you can see there are a lot of companys trading well below brokers values so take that figure with a pinch of salt,

on the other hand id be more than happy to except 3.90
tony

[papalpower] 27/9/2007 09:37

Honestly would not surprise me to see this sold off sub 300p, the market really does not like CER (for reasons quite obvious) and I am sure that a few large holders would be more than happy to dump their holdings in full for some cash.

[wolstencroft] 27/9/2007 09:06

Brokers Ambrian Partners said that the likelihood of a competing offer for Celtic Resources was low. "We feel that Severstal is a credible bidder and that it will not have to try very hard to convince most shareholders."

I wonder why are they saying that?

Which shareholders do they know. Not me of course and all the ther PIs but perhaps there are some funds that want out.

[tsmith9426] 27/9/2007 08:36

whats the 3.90 about,looks like someone trying there luck lol, they can have mine for that

[tsmith9426] 26/9/2007 22:36

love you to be right chevy

[chevyplus] 26/9/2007 21:37

tsmith9426
I think a price closer to £4.00 would be a fairer value.Some info on here to help with working out a figure.



Chevyplus

[tsmith9426] 26/9/2007 13:39

they will need to up the price to get anymore, at the moment they are only getting dribbles, dont see it getting anywhere near £3, hope im wrong

[zolota] 26/9/2007 11:49

This is one of the last shares I still have on the AIM and I will be happy when I don't have any shares on this exchange anymore.
Far too less regulation, outrageous spreads and no liquidity. Look at today.
A casual observer sees a 7% decline (or a loss in market value of almost 10 million pounds while the underlying data shows that this drop was caused by someone who sold a massive 15 shares, worth 33 pounds.


Num Price Size Type Time Buy Sell Buy % T.Buy T.Sell
0 234.0 211 8:40:56 211 100|0|0 211
1 235.0 500 8:42:52 500 100|0|0 711
2 230.5 500 9:56:43 500 100|0|0 1,211
3 221.2 15 10:19:39 15 98|1|1 1,211 15

[kibb2] 26/9/2007 07:45

Kermit>

I don't think that is true, this share has been as high as #5 back in the Nez days and $3 since then, both were decent premiums considering production was tiny. Since then the company has

*made a pile of cash on the sale of projects
*brought Suzdal up to respectable production rate, marking a path for further growth
*generating decent cashflow from Moly sales, with future production growth visible
*has actually spent money, made arrangements to advance various other projects

Admittedly, Suzdal was a mess to start and share price reflected this, but that is in the past now.

As you might deduce from my previous posts, I think the offer is pathetically low. I would be interested to hear what methods other posters are using to value the company.

K

[sagem] 26/9/2007 06:32

So what price will Severstal pay per share more than £2.50
..............................................................................................................................

Celtic rejects £123m offer from Russia's Severstal

By Rebecca Bream

Published: September 26 2007 03:00 | Last updated: September 26 2007 03:00

Celtic Resources, the London-listed gold miner, yesterday rejected a £123m take- over bid from Severstal, the Russian steelmaker and Celtic's largest shareholder, saying it "very significantly undervalued the company and its prospects".

Last week Celtic Resources said it had received a preliminary approach from a potential suitor. Although the company did not say who had made the approach, market speculation centred on Severstal, which acquired a 22 per cent stake in Celtic in August and said it had ambitious plans to expand into gold mining.

Yesterday Celtic Resources confirmed that the approach had come from Severstal, but that the Russian group's offer of 220p a share had been "unanimously rejected".

On Monday Severstal said it had bought a further 2.59m shares in Celtic Resources at 232p each, taking its holding through its Bluecone Limited subsidiary to 26.6 per cent.

A representative of Celtic Resources said the company's board was "happy to continue discussions" with Severstal. "There is nothing hostile about the situation at this stage," she said.

Celtic Resources owns the Suzdal and Zherek gold mines in Kazakhstan and has 50 per cent stakes in the Shorskoye molybdenum mine in Kazakhstan and a copper-gold project in the Chelyabinsk region of Russia.

Severstal's mining subsidiary already produces coking coal and iron ore - raw materials used in steelmaking - but Alexei Mordashov, the group's billionaire owner, has said he wants to diversify into precious and non-ferrous metals.

Brokers Ambrian Partners said that the likelihood of a competing offer for Celtic Resources was low. "We feel that Severstal is a credible bidder and that it will not have to try very hard to convince most shareholders."

Shares in Celtic Resources dipped ½p to 228p.

[kermit] 25/9/2007 13:45

Celtic rejects Severstal approach
By Rebecca Bream

Published: September 25 2007 12:39 | Last updated: September 25 2007 12:39

London-listed gold miner Celtic Resources on Tuesday rejected a £123m takeover bid from Severstal, the Russian steelmaker and Celtic's largest shareholder, saying it "very significantly undervalued the company and its prospects".

Last week Celtic Resources said it had received a preliminary approach from a potential suitor. Although the company did not say who had made the approach, market speculation centred on Severstal, which acquired a 22 per cent stake in Celtic in August and said it had ambitious plans to expand into gold mining.

On Tuesday Celtic Resources confirmed that the approach had come from Severstal, but that the Russian group's offer of 220p a share had been "unanimously rejected" as being too low.

On Monday Severstal said it had bought a further 2.59m shares in Celtic Resources for 232p each, taking its holding through its Bluecone Limited subsidiary to 26.6 per cent.

A spokeswoman for Celtic Resources said on Tuesday that Celtic's board was "happy to continue discussions" with Severstal. "There is nothing hostile about the situation at this stage," she said.

Celtic Resources owns the Suzdal and Zherek gold mines in Kazakhstan and has 50 per cent stakes in the Shorskoye molybdenum mine in Kazakhstan and a copper-gold project in the Chelyabinsk region of Russia.

Severstal's mining subsidiary already produces coking coal and iron ore, raw materials used in steelmaking, but Alexei Mordashov, the group's billionaire owner, has said he wants to diversify into precious and non-ferrous metals.

Shares in Celtic have risen strongly since Severstal got involved with the company in mid-August, from 197p to 232½p on Tuesday.

Ambrian Partners, the London brokerage house, said that the likelihood of a competing offer for Celtic Resources was low. "We feel that Severstal is a credible bidder and that it will not have to try very hard to convince most shareholders to sell for an immediate return as opposed to waiting 12 months for Celtic to demonstrate its value credentials and earn a re-rating in the market."

[kermit] 25/9/2007 10:25

I think if the board got anything near a price of £3 they would take it as i think they are aware that the UK stock market will never realise any premium to value.

[tsmith9426] 25/9/2007 08:42

i wonder at what price then mr Foo would consider true value, considering
there offer was very significantly undervaluing the company, maybe a £1 on the price.

[papalpower] 25/9/2007 08:30

Quite funny really, it would have been nice for Foo to say the same thing about the CER takeover of EKA............. Pot calling the kettle black perhaps...

Sorry, just a bitter and twisted ex-EKA holder :)

[zolota] 25/9/2007 07:57

The bidding game has begun. As CER says anyone who offers their shares at current prices is a big fool.