Cerillion Share Discussion Threads

[caiman27] 02/10/2007 09:21

Bluecone is owned by Severstal

[stuart14] 02/10/2007 09:08

WTF does that RNS mean? Never heard of Bluecone, but if they have just shy of 30% they'll be pretty instrumental in whoever buys CER>

[mad jack mcmad] 01/10/2007 21:18

Celtic mention:

[liam1om] 01/10/2007 16:49

Shame you didnt get in. To be honest I may sell tomorrow and take a profit, because there is always a risk that Severstal may pull out (I doubt it). I think they will wait now to see what the offer party has to offer, which means the price will drift I think.

The Lionore bids were great. I used to love that share!

[stuart14] 01/10/2007 16:42

Not yet, I held this one a few years ago but got out too. Tempted to try to get in on any pull back, but would love to hear more about this other bidder first.

Norlisk v xstrata was great fun at Lionore!!

[liam1om] 01/10/2007 16:38

Hi Stuart, with the spread so big I managed to get in at 239p just the other day. Cant complain with almost being 50points up. I've been watching Celtic for a while. Are you holding any?

[stuart14] 01/10/2007 15:30

Liam, can I ask what level you got in here at? Think I may follow you again!!

[tigerinvest] 01/10/2007 15:27

Looking at the interims results below, Celtic thinks that they will produce around 90,000 ounces in 2007 (profit of around $30 mln) and 150,000 in 2008 (profit of around $50 mln).

That would mean that the current Severstal offer (around $330mln) gives an estimated P/E(07) of 11 and an estimated P/E(08) of 6.6 without taking into account the moly etc.

I don't know of any goldproducers that trade at these low levels - a P/E of 20 is more like it. Obviously, this company is trading at a discount because of past problems but Severstal seems to think that these problems are over. That would give them a hell of a deal at the expense of the other shareholders => us.

Personally, I would be happy to keep this share until end 2008. Especially if that would give us a $50mln profit and a $1bln matching market cap :-) At least, I need an offer that's much higher than the current one before I sell my shares.....


-------------------------------------

* the Company is currently completing advanced studies on the potential expansion of Suzdal to result in production in excess of 150,000 ounces per year by the end of 2008.

* Suzdal gold production rose 24% in the first half of the year to 30,780 ounces (24,793 ounces first half production 2006). Monthly production has increased from 3,500 ounces in January at 56% overall recovery to approximately 8,500 ounces in both July and August at 76% overall recovery. On track to meet the overall 2007 target production of 83,000 ounces at Suzdal.

* Production at Zherek to 30 June 2007 was 1,950 ounces and to end of August production was 3,000 ounces. We hope to meet the 7,000 ounce target at Zherek for 2007, but oxide ores available for heap leaching are becoming limited.

[lasata] 28/9/2007 17:51

LONDON (Dow Jones)--Celtic Resources PLC (CER.LN) soared Friay after it quickly rejected a raised offer of 270 pence a share from Russian steelmaker OAO Severstal (CHMF.RS), saying the bid "significantly undervalues the company."

Celtic also disclosed Friday that it had been in talks with another party, saying those talks "may or may not" lead to a bid for Celtic. It didn't name the party, however.

Celtic's shares closed up 53 pence, or 23%, at 284 pence, far in front of a mixed mining sector.

Severstal on Friday raised its offer for Celtic, a London-listed gold miner with operations in Kazakhstan, to 270 pence from 220 pence, valuing the company at GBP161 million.

Celtic had rejected the earlier bid of 220 pence per share on Tuesday. On Friday, it said in a statement that the latest Severstal offer also "should be rejected by shareholders."

"We are surprised by the speed of rejection and the lack of consideration that Celtic have given out offer," a Severstal spokesman said.

The spokesman said that Severstal has found willing sellers among the Celtic's shareholders, including a letter of intent to sell shares from Canadian miner Barrick Gold Corp. (ABX).

Severstal said that as of Friday, it either owned or had unconditional acceptances for 29.7% of Celtic's stock, a figure that would rise to 36.3% if it buys Barrick's stake in the company. Severstal said Barrick has sent it a letter of intent to sell when the bid becomes unconditional.

"Our offer is public, it is certain, it is a substantial premium and it is cash," the Severstal spokesman said.

Severstal last month built a 22% stake in AIM-listed Celtic when it bought a block of shares from Aton International Ltd., a unit of UniCredit SpA (UC.MI).

Before Severstal made public its stake, Celtic's share price was down almost 36% over a 12-month period at 154 pence.

Natixis Bleichroeder analyst Jonathan Guy said Severstal's first offer was likely a low-ball approach to see who else would bid and at what price.

Guy, who has a buy recommendation on Celtic, values the company at 291 pence a share. "That's the minimum price

[liam1om] 28/9/2007 17:48

Stuart14, you right I was. Also Uramin aswell.

[zolota] 28/9/2007 17:04

Papalpower, Your hardfeelings are understandable, but as a CER share holder I am not complaining about the purchase of EKA. Hold on tight to your shares and it will go up further than you think.

[stuart14] 28/9/2007 17:04

liam, i'm sure you were around for the LOR bidding war?

[liam1om] 28/9/2007 17:00

My guess is we will probably see another bid at around 310 from Severstal.

[seatrader] 28/9/2007 13:38

Mr Foo is playing the game, using his VOG company, to boost the Russians bid even higher for CER.

[stuart14] 28/9/2007 13:38

I love a bidding war, easiest money ever, but VOG v Severstaal seems unfair

[papalpower] 28/9/2007 13:31

Well, if you lived through the incest of EKA and CER its not surprising now to see VOG being mentioned.

Poor VOG holders, imagine the potential dilution they would suffer if it were true....

[mstaub] 28/9/2007 13:29

Easy Stuart14 pic up the telephone and call the BOE and borrow some of that money no one esle wants to lend.. Doh!!!

Hold On...

Spot the Shorters?

;))

[stuart14] 28/9/2007 13:25

How on earth would VOG bid for CER!!!

[liam1om] 28/9/2007 12:44

For the board to reject it so quickly I would say that who ever they are in talks with have offered quite a bit higher than 270.

[tsmith9426] 28/9/2007 12:32

wonder what the other offer is going to be then

[stuart14] 28/9/2007 12:17

Well, they've rejected the offer. This could get interesting. I am watching closely now.

[tsmith9426] 28/9/2007 12:15

we have to wait to see what Mr Foo as to say