Chromex Share Discussion Threads

[sailing john] 30/9/2010 13:32

Posted my thoughts on today's bid here

Don't want to post on here - they are just my thoughts - read or ignore as you like.
SJ :-)

[sailing john] 30/9/2010 10:19

Just joined the Ruukki/Chromex conference call. Just Ruukki presenting what we already know (presentation on Ruukki website). No questions and they expect completion this year.
SJ

[bonsoir7] 30/9/2010 07:56

A conference call for investors, analysts and media will be held at 10.00 UK time today, 30 September 2010 and the presentation is available on the Ruukki website at www.ruukkigroup.fi. To access the call, please dial-in at least 10 minutes beforehand and quote the reference: 720046#

UK Toll-Free 0800 376 4751

Finland Toll-Free 0800 115 351

South Africa Toll-Free 0800 983 092

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A replay facility will be available for one week after the call, using the reference: 275785#, please dial:

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[bonsoir7] 30/9/2010 07:26

disappointing at first glance but had decent run with the warrants so can't complain

SJ do you reckon there is any chance of a counter offer from the Chinese ?

i'll probably stick with it until the conclusion now in the vain hope of that materialising

[moosh2] 30/9/2010 07:14

36.5p offer? oh well. better than nuffink.

[bonsoir7] 29/9/2010 22:18

BAO looks a bit overplayed and too long term.

wonder if there was any 'scuttlebut' doing the rounds over last few days

Chromite 2010

27-28 September 2010, Hilton Sandton, Johannesburg, South Africa.
Conference organised by Industrial Minerals Events
Contact: Metal Bulletin Events, email: [e-mail],
Website: www.metalbulletin.com/events

CHROMIUM 2010

30 November-3 December 2010, Portman Ritz Carlton Hotel, 1376 Nanjing Xi Lu, Shanghai 200 040, China.
Organised by the International Chromium Development Association (ICDA),
Tel. [phone]; Fax. [phone];
Email: [e-mail]; Website: www.icdachromium.com

[bonsoir7] 29/9/2010 12:23

Surprised to not see this trade well above the bid price before now. The operating background is fantastic and there are potential multiple buyers which implies potential for a serious bidding war.

[sailing john] 29/9/2010 10:22

Bid moved up another notch on both stock and warrants
Another form 8.5 just flashed up on my news alert. I wish they would stop doing that. I get all excited!
SJ

[bonsoir7] 27/9/2010 16:43

IFL results presentation

[sailing john] 27/9/2010 16:13

Press reports that the fourth-quarter charge chrome benchmark price has been settled at $1.30 per lb. This is a roll over from Q3. There was a view that it might fall slightly but Q4 demand expected to be strong and push up spot prices. :-)
SJ

[bonsoir7] 27/9/2010 12:47

heh heh sorry

CHX 32/35
CHXW 12/15

interesting, no premium at all in the warrants for the gearing they give you access to

i'd have thought a fairer warrant price would be close to 20p

[sailing john] 27/9/2010 12:29

Morning B7 - I see you copied my earlier post to IFL thread - you will get me in trouble! Doesn't read quite as well over there. I see someone has pointed out that they are commissioning their own generation - but unfortunately this is only 10% of their power demand needs and therefore only a minor dent in costs - but good for headlines. IFL need to do a Ruukki and build a serious amount of generating capacity to supply the entire needs of the furnaces but I don't think they have the funds. Please don't copy this across - I like to be positive or not contribute. I follow IFL but never invested, but if FeCr pricing increases into 2011 they might get interesting. Never say never!
SJ

[bonsoir7] 27/9/2010 10:37

hello sailor !

[sailing john] 27/9/2010 10:35

More trades today at (34.5/35.0) at or close to indicative offer and little tick up. :-)

[sailing john] 27/9/2010 07:54

IFL results out today - as expected electricity costs playing a big part in profitability. Electricity costs set to rise further over the next two years and so as I have said before, value in SA now rests with mining and export of Beneficiated ore to China.
Interesting to see that IFL have been selling beneficiated ore to prop up working capital.

[sailing john] 27/9/2010 07:51

Story has been rumbling around for a long while now. Good newspaper headlines but suicide for SA if it were to happen (with or without full compensation to mining companies) so no chance IMHO.

[bo doodak] 26/9/2010 21:52

Nationalisation of the mines - just political infighting or a real possibility?
Lets hope Zuma et al are not the muppets they give a good impression of.

[bonsoir7] 25/9/2010 23:12

wonder if we may be due some news on CHX soon

Chromite 2010

27-28 September 2010, Hilton Sandton, Johannesburg, South Africa.
Conference organised by Industrial Minerals Events
Contact: Metal Bulletin Events, email: [e-mail],
Website: www.metalbulletin.com/events

CHROMIUM 2010

30 November-3 December 2010, Portman Ritz Carlton Hotel, 1376 Nanjing Xi Lu, Shanghai 200 040, China.
Organised by the International Chromium Development Association (ICDA),
Tel. [phone]; Fax. [phone];
Email: [e-mail]; Website: www.icdachromium.com

[64bit] 23/9/2010 20:50

warrants for long term growth?.. long term as in 11 months?
sorry, not a fan of timed instruments ;)

[bonsoir7] 23/9/2010 14:31

yes very true

i suspect if/when a counterbid turns up the bidding could go exponential (expecially for the warrants) 50-60p reasonable potential ?

however still happy if the bidders withdraw and so we can buy more cheap warrants for the long term operational/organic growth story which would IMO be worth 60-100p

[sailing john] 23/9/2010 14:29

B7 - They do run a tight ship - the price was drifting down - probably by as much as 20% in the two weeks prior to the indicative offer in July. But now everyone has their ears to the ground. The DMR and others might be involved with Mecklenburg legals or at least answering various due diligence questions and this is clearly the deal maker IMHO. Anyway, nice to see us nearly at full offer - given that the initial market reaction was rather half hearted. My target reamins 50p+ and I'm encouraged by the time this is taking - i.e. must be serious - hopefully news this side of Christmas.
SJ

[moosh2] 23/9/2010 13:55

perhaps someone knows something about a higher bid and are happy to pay 35p for it? makes no sense to buy any if the current 35p bid was all we're getting.

[bonsoir7] 23/9/2010 12:14

I suspect it is simply reaction to the good market/industry news re commodity prices generally and chrome/ferro-chrome in particular

I doubt anyone knows anything specific otherwise the stock would be ramping much harder. There was no movement as far as I can tell though prior to the takeover announcement so they may simply run a very tight ship.