We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Consol.Minerals | CNM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 206.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 206.00 | 206.00 |
| Top Posts |
|---|
Posted at 27/9/2007 12:57 by bigtbigt Having been in profit from GBP 0.95 I've sat with this all the way up, determined to stay 'till the bitter(or sweet) end. I do still think there could be another offer, and final price could be in GBP 2.00 - 2.25 range ...but it could also end up selling at GBP 1.80 - 2.00 once all said and done. So I'm out today. It would annoy me more to loose some current profits than it would please me to make (at most) 10% more (assuming my numbers above are realistic). Best of luck to all still in, and MASSIVE thanks to all you activist CNM investors who have forced the issues and facts onto the table, to bring this share up to a decent selling price. I hope the only loosers from here are the incompetant CNM managers. |
Posted at 22/9/2007 15:12 by corbeta Consolidated Shares Surge as Buyers Bet on Higher Bid (Update1)By Jesse Riseborough Sept. 21 (Bloomberg) -- Consolidated Minerals Ltd., the target of three takeover proposals, rose to a record in Sydney trading as investors bet on a higher offer for Australia's largest producer of manganese, a key steelmaking ingredient. Pallinghurst Resources Australia Ltd., chaired by former BHP Billiton Ltd. Chief Executive Officer Brian Gilbertson, today extended its A$938 million ($816 million) cash offer for Consolidated to Sept. 29, it said in a statement. The company holds 6.98 percent of Consolidated shares, it said. The offer is competing with a A$1.03 billion bid from Palmary Enterprises Ltd., controlled by Ukrainian billionaire Gennadiy Bogolyubov. Pallinghurst has said it would match competing bids for Consolidated, which produces 10 percent of the world's high grade manganese, provided the offers are unconditional by Oct. 18. ``We haven't by any means exhausted the firepower of the takeover players and for that matter I suspect interested investors at the margin,'' said Peter Arden, a commodity analyst at Ord Minnett Ltd. in Melbourne. ``In recent days we have seen further evidence of strong manganese prices, it all points to ConsMin still being of significant interest.'' Consolidated rose 14 cents, or 2.9 percent, to A$4.91 at the 4:10 p.m. Sydney time close on the Australian Stock Exchange. The company has a market valuation of A$1.1 billion. Territory Resources Ltd., which has bid A$3.29 a share, won't raise that offer further, Chairman Michael Kiernan said Sept. 13. |
Posted at 29/8/2007 08:52 by bigtbigt UK investors were given until 24 August to accept the previous (3.30) Pallinghurst offer. I see nothing about deadlines/procedures for UK investors now accepting some 3.60 offer. All I see is an on-Market (only Aussie market!) option to sell to them today at 3.60.Someone please clarify, Ta! |
Posted at 30/5/2007 11:32 by sandpipers From South AfricaInl/inp - Investec - Pallinghurst, Amci And Investec Announce A Strategic Release Date: 28/05/2007 12:00:02 Code(s): INL INP INL/INP - Investec - Pallinghurst, AMCI And Investec Announce A Strategic Alliance Within The Natural Resources Sector Investec Limited Incorporated in the Republic of South Africa Registration number 1925/002833/06 JSE share code: INL ISIN: ZAE000081949 Investec plc Incorporated in England and Wales Registration number 3633621 JSE share code: INP ISIN: GB00B17BBQ50 As part of the dual listed company ("DLC") structure, Investec plc and Investec Limited notify both the London Stock Exchange and the JSE Limited of matters which are required to be disclosed under the Disclosure and Listing Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements. PALLINGHURST, AMCI AND INVESTEC ANNOUNCE A STRATEGIC ALLIANCE WITHIN THE NATURAL RESOURCES SECTOR Johannesburg, 28 May 2007: Pallinghurst Resources ("Pallinghurst"), AMCI ConsMin (Cayman) L.P. ("AMCI") and Investec Limited and Investec plc (collectively, "Investec") are pleased to announce that they have concluded an agreement in terms of which the parties ("Cooperation Partners") will cooperate in pursuing investment opportunities within the global natural resources sector ("Cooperation Agreement"). The Cooperation Agreement brings together parties with a common strategic mindset, financial ability and distinguished track records in order to establish an alliance with unique expertise and executio n skill in the natural resources sector. AMCI and Investec have, under the terms of the Cooperation Agreement, allocated for investment an amount of up to USD 200 million. Furthermore, the Cooperation Partners are in advanced discussions with a leading Asian steel company regard ing an additional commitment of USD 100 million. It is expected that these commitments, when pooled with those being sought from investors in Pallinghurst, will total between USD 1 billion and USD 1.5 billion. The Cooperation Partners will utilise their complimentary skill- sets and in- depth industry knowledge to identify opportunities on a worldwide basis and across the commodity spectrum in order to transform and add value to the assets invested in. "The Cooperation Agreement bring s together a wealth of experience and expertise in the natural resources sector. I have, in the past, had the privilege of working with each of the Cooperation Partners and, as a result, am confident that our alliance will give us a unique competitive advantage in identifying and executing innovative transactions." - Pallinghurst Chairman, Brian Gilbertson. "Concluding the Cooperation Agreement with Pallinghurst and AMCI is an exciting prospect for Investec. Both Pallinghurst and AMCI share a vision and entrepreneurial spirit that is similar to that of I nvestec. The Cooperation Agreement will position Investec to benefit from the deal flow that is expected to be generated" - Investec CEO Stephen Koseff. Pallinghurst is a specialist natural resources investment vehicle that seeks to develop strategic p artnerships with natural resources companies in order to create shareholder value. Pallinghurst is chaired by Brian Gilbertson, widely regarded as one of the leading figures in the natural resources industry, with a notable history and proven track-record of value creation. AMCI is an affiliate of American Metals & Coal International, Inc. ("AMCI Inc."), one of the world`s largest and most successful privately owned coal mining companies. AMCI Inc. has made investments in resources businesses in Australia, the United States of Am erica ("U.S.A"), Europe, China, South America and southern Africa. The company was founded in the U.S.A. by Fritz Kundrun and Hans Mende in 1986. Investec is a leading provider of financial services to the natural resources in dustry, with an integrated product offering, pulling together significant technical skills, transaction experience and broad access to the global financial markets. Investec has a proven track-record in providing creative and value enhancing services and product offerings to its clients. Mr Koseff added: "Investec`s core operational and geographic focus in the key markets of Africa, Australia and the United Kingdom ideally positions it to add value to the natural resource opportunities envisaged in the Cooperation Agreement". Investec has, pursuant to the Cooperation Agreement, been invited by Pallinghurst and AMCI to participate in a proposed transaction with Consolidated Minerals Limited ("ConsMin"), an Australian resources company involved i n the exploration, mining, processing and marketing of manganese, chromite and nickel ore. On the 23rd of February, 2007 Pallinghurst and AMCI announced that, subject to stakeholder approvals, they had conclude d an agreement with ConsMin to create a new diversified mid-tier mining company with significant domestic and international growth opportunities. An investment vehicle of Pallinghurst, AMCI and Investec ("Pallinghurst Investor") will own 60% of the newly established company ("NewConsMin) via a scheme of arrangement ("Scheme"). In terms of the Scheme, existing ConsMin shareholders will hold 40% of NewConsMin, thereby providing them with participation in the value to be created by Pallinghurst Investor`s strategic shareholding in NewConsMin. Mr Gilbertson added: "We are delighted to welcome our partner Investec in the proposed transaction with Consolidated Minerals. Investec`s strong resources focus will complement the strengths and skills of the Pallinghurst and AMCI teams, and provide incremen tal benefits to all the shareholders of Consolidated Minerals". Under the terms of the agreement concluded with ConsMin, Brian Gilbertson, Hans Mende and Pallinghurst partner Arne H. Frandsen will join the board of NewConsMin. This proposed transaction is consistent with the strategic objectives of the Cooperation Partners and is an exciting initiation of this long-term alliance. ENQUIRIES Company Contact Contact number Pallinghurst Sean Gilbertson +44 7887 951 820 Arne H. Frandsen +27 79 528 2407 Investec Corporate Finance George Nakos +2711 286 7311 Investec Limited David Lawrence +2711 2 86 7008 College Hill Johannes Van Niekerk +2711 447 3030 +2782 921 9110 Nicholas Williams +2711 4 47 3030 +2783 607 0761 BACKGROUND Pallinghurst Pallinghurst Resourc es is a specialist natural resources investment vehicle which seeks to develop strategic partnerships with leading resources companies. Pallinghurst Resources draws upon the strategic and industry experience of its management team, its capital markets relationships and access to high q uality opportunities worldwide to grow companies and create superior value for all shareholders. Pallinghurst Resources is chaired by Mr Brian Gilbertson. Mr Gilbertson is one of the leading figures in the global re sources industry, with a notable history of successful value creation, including with Rustenburg Platinum Mines, Trans- Natal Ltd, Gencor, Billiton plc, BHP Billiton, Vedanta Resources and SUAL. Pallinghurst Resources has a co-investment arrangement with AMCI and Investec and is advised by Pallinghurst Resources LLP, a London-based firm authorised and regulated by the United Kingdom`s Financial Services Authority. AMCI AMCI is an affiliate of the American Metals & Coal International group of companies, which comprises a number of privately held coal and resources companies with operations in mining, trading and investing in the resources sector globally. Am erican Metals & Coal International, Inc., was founded in 1986 in the United States of America by Fritz Kundrun and Hans Mende, and has grown to become one of the largest private coal companies in the world. AMCI group companies have made investments in resource businesses in Aus tralia, United States of America, Europe, China, South America and southern Africa, and are actively looking for further investment opportunities across the resources value chain. Investec Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia. The group was est ablished in 1974 and currently has approximately 5 000 employees. Investec focuses on delivering distinctive profitable solutions for its clients in five core areas of activity namely Private Client Activities, Capital Markets, Investment Banking, Asset Management and Property Acti vities. Investec is a leading provider of financial services to the resources industry, with an integrated product offering, pulling together significant technical skills, transaction experience and broad access to the global financial markets. Investec has a proven track-record in providing creative and value enhancing services and product offering to its clients within this important sector. In July 2002 the Investec group implemented a Dual Listed Companies Structure with listings on the London and Johannesburg Stock Exchanges. Last year Investec acquired NM Rothschild Australia Holdings Pty Limited, in order to enhance its capabilities and presence in Australia. The combined group`s current market capitalisation is approximately GBP4.6 billion. |
Posted at 29/5/2007 10:51 by sandpipers Joan,I think the more pressure from private investors the better. The e-mail I wrote was the one above but a new one from you will only increase pressure. Board members do not want a complaint to the ASX at this time so I was not surprised to receive two replies. Other investors in Aus are making similar noises. We know that there is more good news in the future but we would like the company to disclose the impact publicly. |
Posted at 26/4/2007 05:43 by leadersoffice "Mr Gilbertson will return to Australia next month for an investor roadshow but faces a tough task convincing wavering investors to accept."The clock is well and truly ticking, and Brian desperately has to pull a rabbit out of the hat," And there is plenty of wavering Investors we can be assured of that Mr Gilbertson... so Sod off! |
Posted at 25/4/2007 11:16 by sandpipers Private equity group mulls move on ConsMin 25th April 2007, 9:00 WSTA private equity consortium led by investment banks UBS and Goldman Sachs JBWere is believed to be running the numbers on WA miner Consolidated Minerals to counter Brian Gilbertson's floundering $320 million partial takeover offer. The former BHP Billiton chief's Pallinghurst Resources is seeking a 60 per cent stake in a revamped ConsMin via a friendly cash and scrip offer notionally valuing the miner at $2.28 a share. But the offer has failed to gain traction due to its lack of any control premium and the expectation that the deal will have to be sweetened to succeed. That has kept ConsMin shares, which yesterday eased 4¢ to $2.50, well above the notional offer price since it was unveiled in February. Against that backdrop, industry sources said the two banks were working on a potential rival deal backed by fresh private equity funding from Australian and overseas investors. UBS and Goldman Sachs JBWere declined to comment. But on Monday, Goldman Sachs coincidentally raised $415 million to launch a new Australasian private equity fund with a "mid-market focus looking at deals of around $100 million to $500 million". Rumour suggests any rival offer may include splitting ConsMin's underground nickel mining operations from its open pit mines in the Pilbara for sale to new operators. Speculation also suggests the proponents may seek to lure back ousted ConsMin founder Michael Kiernan to take charge of the Pilbara operations, which account for 10 per cent of the world's manganese supplies. ConsMin's share price plunged after Mr Kiernan quit over a pay dispute in late 2005 and the company has since struggled in the face of volatile manganese prices and difficulties at its nickel mines. But manganese and chromite prices have rebounded strongly, and nickel prices have blasted past $US50,000 a tonne since Pallinghurst began negotiating with ConsMin in October. Yet Pallinghurst has refused to budge from its initial offer of $1.38 a share in cash, plus two shares in a new ConsMin for every five shares held in the current company. The new Cons-Min would be 60 per cent owned by Pallinghurst and bid partner AMCI Holdings. Mr Gilbertson will return to Australia next month for an investor roadshow but faces a tough task convincing wavering investors to accept. "The clock is well and truly ticking, and Brian desperately has to pull a rabbit out of the hat," one source said yesterday. "At the end of the day, if someone comes up with a reasonable alternative, it may be all over." A ConsMin spokesman said the company did not comment on "market speculation". |
Posted at 16/4/2007 05:30 by sandpipers MINING NEWSTakeover bid still a goer: ConsMin Paul Garvey Monday, 16 April 2007 CONSOLIDATED Minerals managing director Rod Baxter has again defended the bid of Brian Gilbertson's Pallinghurst Resources, following claims from the company's ex-advisor that the bid was "heading for the rocks". Numis Securities, which was the broker and nominated advisor regulating ConsMin's London listing before its sudden resignation soon after the Pallinghurst deal was announced, said on Friday it had upgraded its target price for ConsMin to 146p, or around $A3.65. "Brian Gilbertson and the team at Pallinghurst may need to revise their offer for Consolidated Minerals as the shares rise above the effective 96p ($2.40) offer," Numis said. Pallinghurst – headed by former BHP Billiton head Gilbertson – is offering $1.38 cash plus two shares in the new ConsMin for every five currently held. The per-share value of the bid, which had a notional value of $2.28 per share when it was launched, was $2.448 in morning trade based on the current price of $2.67. Speaking to MiningNews.net, Baxter said he did not agree with Numis' suggestion that the Pallinghurst bid was in trouble, adding that a recent road show through Australia, North America and Europe had met with a favourable response, particularly from larger institutional investors. In addition, Baxter pointed out that the two-for-five share component of the offer meant shareholders could participate in the upside of the new ConsMin. "That was the whole essence of this transaction," Baxter said. "We wanted to give shareholders exposure to the upside in the ConsMin growth story going forward. As the share price moves up as people become more comfortable with the offer, the value of the offer also rises." Baxter added that both Gilbertson and Hans Mende – the head of private coal group AMCI, Pallinghurst's partner in the ConsMin bid – would be arriving in Australia soon for another series of road shows to Australian investors. Baxter also dismissed suggestions that the market update issued by the company on the Thursday afternoon before the Easter break was a response to mounting pressure from the shareholders behind a website urging ConsMin investors to vote against the Pallinghurst offer. The Consolidated Minerals Takeover – Vote No website has used reported rallies in the manganese and chromite markets as justification for its opposition to the bid. However, Baxter said the market update was consistent with its continuous disclosure policies. "We consistently said when the new management took over we would continue to look at our ongoing disclosure obligations, and share with our shareholders what's happening with the company," Baxter said. Baxter said that a fall in manganese stockpiles in China had driven a slow uptick in the manganese market, although that had been partially countered by rising shipping costs and a strengthening Australian dollar. ConsMin is increasing FOB manganese prices to rise by 8-10% on the $US2.09/dmtu received in the first half of financial 2007. Chromite prices, meanwhile, are now expected to increase by around 6% on the $US148/t received in the first half. |
Posted at 11/12/2006 09:31 by energyi The tax expert who may have helped spur the government to crack down on income trusts by predicting that conversions to the structure would cost more than $1-billion in lost revenue believes that income funds are now destined to become an endangered species.Jack Mintz, the University of Toronto professor who crunched those numbers, will join lawyer James Scarlett of Torys LLP and Sandy McIntyre, one of the country's largest trust investors, in Toronto to look at "The Future of Income Trusts - To Be or Not To Be." The general consensus at the moment - and Mr. Mintz's view - is that the likely outcome for most trusts is not to be. A poll last week by the accounting firm Deloitte & Touche found that trust executives and advisers to the sector expect trusts to start disappearing before the end of the government's four-year tax holiday. The big reason it hasn't started yet is because Ottawa hasn't laid out the rules for conversions back to corporations, trust executives and advisers say. "A lot of trusts in the end are going to move back to the corporate world to have more flexibility," Mr. Mintz said. He said his call for a refundable dividend tax credit, which would make dividend-paying stocks more attractive, as well as for the ability of investors to exchange units for shares without triggering a capital gains tax hit would create even more incentive to convert to corporate status. The other likely outcome for many trusts is being swallowed in a takeover, as private equity firms from the United States and abroad are drawing up lists of target companies and await only a further drop in prices before they strike. The interest from private-equity firms is "huge," and "there's going to be a lot of U.S. money coming in," said Mr. Scarlett, who focuses on mergers and acquisitions in addition to trusts. In a survey of 360 trust-sector managers, trustees, advisers, investors and lenders, Deloitte found that 87 per cent said the number of trusts will fall to 100 or fewer within four years from the current 256, and 52 per cent predicted no more than 50 trusts will be left by 2011. "It's going to happen quite quickly," said Deloitte vice-chairman James Goodfellow. For companies that need to raise capital to grow or replace declining assets "the issue is just give me the rules so I can understand the tax consequences of rolling back, for example, and as soon as I understand that, let's get on with it," he added. Income trust investors hoping for a bounce in valuation between now and the end of the tax holiday may also be disappointed, according to the survey's finding that 58 per cent of respondents believe the income trust index will fall further in the next four years. Many trust investors blame Mr. Mintz in some way for the drops in their trust investments because of the massive publicity generated by his conclusion that, with the planned conversions of telecommunication giants BCE Inc. and Telus Corp. into trusts, the federal government stood to lose $1.1-billion in tax revenue because of the trust phenomenon. Mr. Mintz's calculations have sparked a heated debate about what, if any, is the real number for lost tax revenue, and supporters of trusts have vigorously disputed his findings. For example, Economist Yves Fortin, working on behalf of the Canadian Association of Income Funds, this month concluded in a paper that "it might well be that no tax leakage would be found if such a study was done properly." The current government, for its part, hasn't released the numbers it has come up with. One problem is that all such models rely on so many assumptions that a small change in one of the underlying assumptions (how much trusts pay out, for example) can vastly change the conclusions. "That's unfortunately the land of policy setting and macroeconomics - you build these big macro models and you tweak something and it's 'Holy cow,'" Mr. Goodfellow said. |
Posted at 08/11/2006 01:26 by energyi ...from a gei thread...You need to check out the recent changes being proposed by the Canadian Taxation Authorities to these, a recent mailer from Daily Wealth had a piece about this and why they suggested selling them. Below is the cut and paste from about a week ago, I don't know whether this would afflict UK based investors the same way that it does Americans though. -------------------- The Canadian Income Trust Debacle by Dr. Steve Sjuggerud When individual investors learn about Halloween's Canadian Income Trust Debacle, they'll shy away from buying Canadian energy trusts for a while. Today, I'll explain what happened and share one idea for where investors might go next... Around the office, we're calling it the Canadian Income Trust Debacle... Investors in businesses structured as Canadian income trusts had a nice thing going the past few years... big cash payouts and nice capital gains to boot. As long as businesses like these paid us 90% of their distributable cash, they weren't taxed. You could hold these in retirement accounts and earn huge dividends. It was too good to be true... really... In recent years, more and more Canadian companies have been converting to the trust structure to take advantage of the favorable corporate tax situation. The latest high-profile companies to announce their conversion were Telus and BCE – two massive phone companies. Phone companies are a stretch from the intention of the trust law. This week, the Canadian authorities said they've had enough. Canada said it loses a mountain of corporate tax revenue every time a company converts to a trust. Apparently, in 2006 alone, more than US$50 billion worth of companies have converted to trusts. So Tuesday night, Canada announced plans to fully eliminate the tax benefits of these trusts by 2011. Instead of no taxes, it appears that Canadians will pay in excess of 30% in taxes. Ouch! Even worse, Canada will likely withhold 41.5% from Americans... said another way, a 7% Canadian dividend will shrink to 4% for Americans, after Canadian taxes. What I prefer to do now is cut and run... and then watch the drama from the safety of being out of my position. If they are worth going back into, we will. But the only way I see them being worth getting back into is if they're much cheaper. It stinks. The Canadian government just killed billions of dollars overnight. These trusts will probably fall farther in the short term, as investors get angry and leave the sector. Also, no law has been passed yet. So the shares will probably do nothing during this period of uncertainty. And markets hate uncertainty. So where might American dollars go in the future that would have headed for the Canadian energy trusts? When individual investors learn of the Canadian Income Trust Debacle, they'll shy away from buying Canadian energy trusts for a while. Their brokers will be looking for a place for them to put their money. An easy answer might be, "how about the U.S. version of these things?" My first thought was U.S.-traded energy master limited partnerships (MLPs)... like Enbridge Energy LP (EEP), Enterprise Products Partners LP (EPD), and TEPPCO Partners (TPP). These folks mainly own pipelines in the U.S. They are not taxed, and they pay dividends in the 7% range. Once investors hear about that tax-advantaged 7% yield in an energy pipeline, the sale is made. If I'm right about this, you can now beat 'em to it. Good investing, Steve @: |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
