Citius Resources Share Discussion Threads

[the troll] 13/3/2013 12:40

angus17; no, there isn't, it's now a pretty pure property play ......having gone through last year's circulars yet again with a fine tooth comb, I'm still coming up with a worst case scenario NAV of c 16 pps outside the ring-fence ( see article 118 ). a 75 % discount to NAV & serious long-term development potential ? not many of these around methinks. I wouldn't be surprised to hear eg The St. Modwen's of this world were running a slide-rule over it. ( NAI ).

[angus17] 13/3/2013 09:44

is there still any exposure to the pension liabilities? I have take my eye off this one a little and don't know whether the reorganisation releases cres of any/all the pensions problem.

If there isn't a pesnions problem any more then yes this looks very cheap to me too.

[beeks of arabia] 13/3/2013 08:11

Well my timing was a few days out which is annoying.

However as long as the exposure to Daw Mill is as we have been told, I don't see any reason for this value anomaly to last long.

Still happy to hold.

[dazzaa] 12/3/2013 23:37

Why such a lowly price? when assets in Harworth are worth more, surely not just market sentiment!! am I missing something here or is this the time to be brave and make some real money

I want to hear from those who have sold recently and why, not giving sentiment as the reason.

Dazzza

[freddie ferret] 12/3/2013 16:13

Fair few through today.

[strutt12] 12/3/2013 15:05

I need one hell of a bounce!!!!!

[ivancampo] 12/3/2013 15:04

I doubt it - we would've been due an update end Jan for the mining side but as no longer relevant would expect April results will all be about NAV. They sold £7m worth of property in Feb so can't understand why they didn't announce that.

Looks like a few buyers at this level, bounce could be imminent.

[strutt12] 12/3/2013 14:59

I would have thought we will have an update soon as the miners have started to report

[ivancampo] 12/3/2013 14:56

No idea, perhaps lack of understanding of the situation to some degree. Ultimately there is someone selling, maybe an institution who now owns a propco and not a miner?

Communication has been terrible, ultimately the pension people need a strong propco as they own 75%.

[strutt12] 12/3/2013 14:53

So why the big drop Ivan??

[ivancampo] 12/3/2013 14:45

Max liability for CRES to the mining side is is still expected to be £1m as per last RNS so this not relevant to us....

[strutt12] 12/3/2013 14:26

So, what news is out that we're going to be the last to hear about?????



"It seems that short-term financing is foremost on the company's agenda now, with a fairly large insurance payout coming at some point in the future. The payout could be as large as several tens of millions of pounds."

Market cap now 10.85 Million

[jeffian] 12/3/2013 09:44

I think one name change per Quarter is quite enough! Coalfield Resources own the coalfields (with all that potential for alternative uses) and UK Coal mines the stuff. Seems perfectly logical to me.

[freddie ferret] 11/3/2013 16:40

This seems to have bounced off the 4p IMHO.

[loafofbread] 10/3/2013 17:39

Are there still 300M shares in issue?

[beeks of arabia] 08/3/2013 16:43

nice end to the day.

[deanroberthunt] 08/3/2013 08:58

would help to get some news to lift the share price ....
rather than the eery silence and the bored just keep selling

[beeks of arabia] 07/3/2013 20:20

Aye - some good money to be made here on the bounce.

Bought in at a smidging over 4p.

[ivancampo] 07/3/2013 19:54

Likewise from the Telegraph....


The group was renamed Coalfield Resources, to reflect it "making the most of what is left of the coalfields". The UK Coal name was kept for the mining business, after stakeholders agreed to a package under which customers improved contracts, among other measures.

The structure's plus for shareholders, was that it quarantined them from the risks - today painfully evident - around the mines, but poised them to enjoy a return from the £280m property portfolio.

[ivancampo] 07/3/2013 19:40

From the FT tonight / morning....Coalfield Resources saw its shares fall 6 per cent to 4.3p on Thursday. However, company officials said shareholders would not be exposed to losses as a result of the closure of the mine, which is controlled by an employee benefit trust after a financial reorganisation last December saw the company's mining and property assets split.

[the troll] 07/3/2013 16:30

here's my take......property valuation @ 30.6.2012 = £271.7m ( interim report ) + £30m contribution ( ex PF trustees, see Sept. 12 circular ) - £78m DEBT ( per circular ) - £35m ( MAX ) 'contingent' liabilities ( ie, subsidence remediation, etc, etc. - some of it apparently insured though ? - again, per Sept. 12 circular ) INCLUDING those referred to in TODAY's RNS ( ie, £8m, reducing to £1m, but now taking longer to achieve )...... so IMHO, the absolute 'worst case' scenario, @ 24.9 % participation & assuming June 12 valuations realistic, is that current net asset value = c 15.7 pps.
conclusion; share price fall since re-structuring's unjustified & I'm buying now & looking for 8-10 pps once 'fog' clears. ( NAI ).

[deanroberthunt] 07/3/2013 16:27

you did, well done.

[freddie ferret] 07/3/2013 16:02

I said it would get to 4p and that would prove a good buying opportunity!