Cleantech Share Discussion Threads

[assagai] 25/5/2009 12:40

Thanks Vizz

[vizz] 25/5/2009 11:43

Hi Assagai, I have been in a non-epoxy state for a couple years because of changed market conditions. There are good reasons for a lower CBM share price relative to WTN, the first in queue being that the merger terms must be ratified by a vote on 23 June (simple shareholder majority, but 75% of value), which looks favourable to pass muster though not a dead cert. Beside that there is the normal matter of investors agreeing the value of combined assets and its sector in such an unstable market atmosphere, plus the restricted trading period. As to the latter, CBM is now effectively WTN, a TSE listed stock whose Canadian trading hours coincide with only 2 hrs of the LSE daily opening period, leaving UK punters in pondering limbo most of the time. All these factors combine with the result being some share price cushion of safety by CBM holders.

EDIT: CBM shareholders require 75% approval by number.

[assagai] 23/5/2009 10:56

Hello Vizz - thought you were glued to TRT alone. Can't quite get my head around the price here, seems to be quite a bit lower than what was offered by WTN?

[vizz] 23/5/2009 09:44

I'd say a majority of UK investors followed the wiser CLN path to CBM and the recent trip into WTN via CBM will have been adopted by almost all of the informed.

[huttgl] 23/5/2009 09:19

Tam,

I was in a small way (much smaller since the merger) but had a clear out of bits and pieces last week which included CBM. Numerous better plays elsewhere. Not impressed with CBM.

[tam oshanter] 22/5/2009 21:19

Anyone still in CBM by buying CLN. Dont think I dare look at how much my WTN shares will be worth compared with the original CLN purchase.

How would CLN have been performing outside of CBM?

[gconvery] 22/5/2009 07:39

Arbuthnot ups Cambrian, Western Canadian to buy from neutral
Business Financial Newswire
After an 'epic wait since the initial proposal for a merger was announced on Christmas Eve', a definitive agreement has finally been announced to merge Western Canadian Coal and Cambrian Mining, through a scheme of arrangement offer by Western Canadian, notes Arbuthnot.

Both merging companies raised to buy recommendation from neutral by the broker, with 67p price target for Cambrian Mining and 90p for Western Canadian Coal.

[kooba] 21/5/2009 17:53

well done for hanging in through the dark days papillon sold a few myself at 53p was hoping to get some away higher but alas.trying to get my head around the merged co balance sheet and income...and got a headache.might give it another go next week.anyone aware of any research here or in the colonies following terms would like to know. some think its a world class mining company for the future others a disparate group of assets under an incompetant management.gawd knows! would be nice if someone came in and cleared the lot up once the deal is completed with a big lump of cash.

[papillon] 21/5/2009 16:24

I sold up completely this morning. Mkts look a bit unstable and WTN looks a bit weak along with its peers; CBM after all is only a proxy for WTN.

[steeplejack] 21/5/2009 11:21

Wonders will never cease.The discount to the proposed merger terms were mighty confusing at times.Goes to show something but i'm not sure what.Was the maths so difficult.I think they could have kept us all better informed as time went by.

[andrbea] 21/5/2009 10:48

sounds good (15399)

Western said it will issue 0.75 of its common shares for each share of Cambrian. Based on Western's closing price on May 19, the deal values each Cambrian share at 57 pence, representing a premium of 21 percent over Cambrian's closing price of 47 pence on May 20.

[kooba] 21/5/2009 06:01

so wtn $c1.39 close, exchange rate 1.7940 gives 77.48p ,0.75 for 1 gives 58p.small discount for transaction completion timescale and maybe another 1p off for further ease back in dow futures.53p about right?? we should get some proper bid arbs involved now terms are definitive so the discount should start to narrow further.lets hope wtn holds up.
from stockhouse.
On the company's Bullboard, blonkers said:

"I'm also quite a large holder of CBM. When the proposed terms were first announced back in December many CBM holders were up in arms thinking that we weren't being offered anything like enough. But as the recession bit and a relatively minor debt issue which would have normally been taken in our stride started to become an issue I think the vast majority of CBM holders have greatly warmed to the deal and will now accept the terms. Quite opportunistic and astute on Westerns part I think. Grasping this opportunity to acquire them. This company is going to be a much bigger deal now[sic]."

[tb0ne] 21/5/2009 00:17

VOLVO, who forecast that WTN would hit C 0.50???? Give me one man/analyst/investor/human/dog/alien that saw that?! I think we were ALL sitting here with eyes WIDE open at the fall from grace!!

[tb0ne] 21/5/2009 00:16

VOLVO, who forecast that WTN would hit

[volvo] 20/5/2009 22:00

You'll notice that "Porky Burridge" is toast.

Remember WTN is 1.40C that is not near 5.50C.

Classic AIM switch and will take 55p and see yer.

[gowtn] 20/5/2009 21:52

We all know the offers were there VOLVO but management want to go big time. Its a shame they only think about themselves and not the shareholder but WTN has taken years to get to where it is and Byrne is not ready to give it up. I never thought he would sell

[gowtn] 20/5/2009 21:48

Best for anyone that is dissapointed with management sell up and move along and never return

[papillon] 20/5/2009 21:38

I did say I was not "100% convinced" VOLVO. That's not the same as saying I don't believe its going to happen!! Just lets say I was only 90% convinced that the terms would be unaltered, otherwise surely I would have sold all my CBM? While there was such a big discount there was always a small doubt in my mind that the terms might be altered in WTN's favour, but then I'm not privy to leaked information like you so I think a doubt, or two, is always sensible. Fair play to you though, you said the terms would be as proposed 6 months ago and that was the case. Now that the offer has been made I don't think I want to hang around for 2 months or so. I will keep an eye on WTN though and if I think they are ready for another jump up I shall return!!

[gowtn] 20/5/2009 21:37

- Globally diversified operations, with operating coal mines in three key coal producing regions (Western Canada, West Virginia and Wales, UK; - Product diversification with the introduction of thermal coal to the existing product mix of hard coking coal and low-vol PCI coal; - Sales diversification with a more balanced sales program into Asia, Europe and the USA; - An expansion of coal reserves and resources by 39% and 50%, respectively; - Increased size with the 100% increase in the current's coal production to approximately 3.5 million tonnes, with the potential to grow to over 10 million tonnes per year; - Cost savings through reduced overhead, marketing and operational synergies; - A simplified ownership structure that will increase the public float of shares by 55%.

This paragraph pretty much sums up what I have been saying all along they are looking to grow to over "10 MILLION tonnes per year" it has been the plan all along to become a world class producer. When I was dribbling day after day that WTN would take out CBM not many believed it is now official. They may have been looking to sell up but I think they were looking at their options and declined the offers they had. It may have been a mistake for now but who knows where we will be in a couple of years time.

[volvo] 20/5/2009 21:13

I was there when it mattered ie when it got interesting.

unglove I might be dangerous but I can assure you POG is getting ready for a 100pc move.Take your profits and reinvest.

The Aricom stuff is about to get interesting and the chines e are buyers and 520k ounces of gold is helpful.

[kooba] 20/5/2009 20:44

just glad i didn't bail out when they were sub 20p and get back in when they were 40p volvo how about you?

[unglove] 20/5/2009 20:27

Credit where credit is due - Volvo got it right in the end (hope you are right about POG too). Suggest you buy yourself a new banger :)