Chromex Share Discussion Threads

[olivierpelier] 26/2/2010 12:44

was anyone else expecting a prelims announcement this week?

[vivgav] 10/2/2010 07:24

The Times

Tiddler to watch

Chromex Mining endured a tough 2009, as the price of chrome tumbled. The shares, 46p in July, climbed 2p to 14¾p yesterday after Chromex revealed that a recovery in chrome prices has allowed it to reopen a mine in South Africa that produces about 20,000 tonnes of the metal each month. Chromex expects production there to double.

[allotment] 09/2/2010 08:36

Most agreeable green shoots now showing, hopefuly will be ready for harvest at 50p by the Autumn

[vivgav] 09/2/2010 07:57

Positive RNS

[p bear] 16/11/2009 09:28

From trade press:

Chromex is looking to make more
acquisitions outside South Africa
after it announced the purchase of
a 49% stake in Zimbabwe-based
Falvect Mining last week, ceo
Russell Lamming told MB.
"I am always looking at
acquisitions: it's the only way to
grow the company. Being
geographically diverse makes a lot
of sense," he said, pointing to
Turkey as a particular area of
interest.
"We like the look of Turkey, it
looks interesting," he said.
His comments came shortly after
the chrome producer announced
the Zimbabwe acquisition on
November 10 – the frst public
move by a Western mining
company to snap up some of the
country's substantial chrome
deposits since the stabilisation
and dollarisation of the economy
in the frst quarter of this year.
Under the Falvect deal, Chromex
will have the right to develop all
the company's chrome
concessions in the Shurugwi region
and tribute agreements in the
Ngezi area. It will also market 100%
of the chrome products produced
at the mines.
In return, the company will give
Falvect working capital and will
fund the development of its
projects as well as any additional
Zimbabwean acquisitions.
Chromex is hoping to be in
production in Zimbabwe by the
end of 2010.
Chromex's shares jumped on the
news of the acquisition, trading as
high as 17.50 pence (29 cents) per
share on London's Alternative
Investment Market (AIM) compared
with 15.50 pence on October 30. The
shares were trading at 17 pence per
share at the close on November 11.
Mining the Zimbabwean
operations will be more
challenging than it is in South
Africa, but the ore in the country is
high quality, Lamming said.
"In Zim it's a different orebody –
it's a thinner seam so it's tougher
mining, but it's a fantastic ore," he
said. "[Zimbabwe] is a gorgeous
country, it has vast reserves, so it
will be great to have a part in its
recovery," he said.
The company is also planning to
build a washing plant in
Zimbabwe in accordance with the
government's push for companies
operating there to benefciate
their ore.
"In Zim we'll be producing a
lumpy product and we're really
looking at building a washing plant
for a sands product," he said.
The Zimbabwean government
will cut royalties for companies
that benefciate their products and
offer other incentives to encourage
benefciation, ministers told MB
earlier this month.
The Chromex acquisition also
coincides with the government's
decision on November 1 to lift a
ban on ore exports, which
Lamming described as
"encouraging" news.
Local press reported on
November 8 that the Minerals
Marketing Commission of
Zimbabwe has lifted the ban on
exports of chrome ore and chrome
fnes for the next 18 months.
As well as its new projects in
Zimbabwe, Chromex is also focusing
on its Stellite and Mecklenburg
operations in South Africa, he said.
The company is in the process of
doubling benefciation capacity at
Stellite, he said.
"We are in the fnal stages of the
design and costing of an increase
in the processing capacity at Stellite
[...] we're going to double capacity
by the end of the second quarter
[2010] to 40,000 tpm of run-of-
mine feed," he said.
The frst phase of the Stellite
benefciation plant was
commissioned in August 2009. By
the start of November the plant
was able to operate at full design
capacity producing 42% and 44%
metallurgical grade chrome
concentrate.
"All benefciation to date has
been fed from existing stockpiles at
the Stellite mine although due to
ongoing demand, the board
expects to recommence mining
operations in December 2009,"
Chromex said as it announced the
Zimbabwe acquisition.
The expansion of Stellite will also
allow Chromex to market lumpy
chrome ore as well as chemical and
metallurgical grades of ore,
Chromex said.

[andy] 10/11/2009 19:35

Upbeat article and analysis from Proactiveinvestors.com!

[lq7u0] 10/11/2009 08:03

Plenty of detail about costs etc, not!

[vivgav] 10/11/2009 08:02

not showing up on advfn monitor

[vivgav] 24/9/2009 20:43

bought WTI & CHX on Tuesday....... just need CHX to match WTI now! :-)

[empirestate] 23/9/2009 22:14

well deserved improvement in the sp, long overdue,anyone know what the latest chrome prices are doing

[jonny flame] 23/9/2009 17:24

Nice bounce, over due really.

[moosh2] 23/9/2009 15:43

nice price hike on no ramping on the major BBs. good stuff!! spread will detract viewers but big spread means only serious investors hopefully.

[vivgav] 23/9/2009 12:24

up 22%....looking good.....very much under the radar this one imo.

[bizz2bizz] 22/9/2009 22:16

Stock overhang cleared, buyer looks to go on? We must be due an update on things soon. Chrome prices picking up and stockpiles depleted. Agree with you S.P circa 25p but fair value there on present chrome price. Next major upward movement will be on the outcome of the conteneded mining license with Samancor. The company remain confident on the outcome. Remember the contended license outcome against Samancor over the Mecklenburg is worth about 20p onto the S.P, and:-
Chromex CEO Russell Lamming said, "The Company believes that the
action by Samancor has no more merit now than it had when the DME
granted Chromex a New Order Mining Right in July 2008, a right which
has subsequently been registered with the Mining Titles Department in
South Africa. Chromex has obtained an initial opinion that there is
no new evidence backing Samancor's application, and is currently
taking legal advice on what recourse it has to what we consider
vexatious litigation."

I'm in and staying and fully confident and await an upgrade. Oh I nearly forgot, we've also got a license to for Gold and Platinum!

[ceckyspunt] 22/9/2009 19:38

Next year end (to be reported) 30- Sep- 2009

[empirestate] 22/9/2009 14:55

TW. now looking decent value imo

[empirestate] 22/9/2009 14:54

ric, the curve is definately on the upside now, should see 20p+ on short term

[riccardo29] 21/9/2009 16:50

Someone steamed in with an 875K buy today, couple of 50K's followed, looks like something is stirring. Price has been held down by total lack of news, could be about to change?

[kajshares] 19/9/2009 11:19

PB please do you have any analyst forecast figures

Thanks

[p bear] 10/9/2009 10:52

They did raise a smile. :-)