Consolidated Minerals Share Discussion Threads

[leadersoffice] 23/2/2007 10:34

I would rather not have the cash and keep it in the new company. Have to say im not impressed either although its good to see the dividend re introduced. I think thats just a sweetner to try and sell this deal. Don't think there will be a rival offer.

[rdpounder] 23/2/2007 08:59

On the plus side, we're back in profit and the divi has been reinstated! :o)

[phillis] 23/2/2007 08:02

Let's hope it provokes interest from elsewhere

[rdpounder] 23/2/2007 07:51

The offer only values CNM at a few cents above yesterday's closing price. Not impressed

[kimboy2] 23/2/2007 00:20

CNM in merger/buyout announced in Australia. Cash and shares at present price.

Doesn't bite your hand off at first glance I have to say .

[culchi] 22/2/2007 10:52

Tomorrow will tell a lot . Results out in the morning . Will be interesting to see any news on takeover. Also if new management have got costs under control.

[gryphon2] 09/2/2007 09:08

I think this is a good price even without any "interest" the Nickel business and assets may attract the chinese as well, I have been steadily adding around this level

[lonrho] 29/1/2007 20:38

Well nickel production is a little over half of budget in a quarter of record nickel prices.That is pathetic but hopefully we will be saved by the rumoured russian interest.

[culchi] 29/1/2007 19:19

Like yourself i just came in after a hard day . it is difficult to take it all in and they seem reluctant to give a clear simple update. With a partial or complete takeover still under discussion i am sitting tight for now. Have you read stentors post on active investor board 9/01/07 re minesite article of previous day . It refers to their 28% stake in bc iron which appears to be an excellent piece of management. Bc irons price up from launch price of 25 aus. cents to 94 aus. cents in three weeks. Its still too early to really judge new management. The test will be if they can control costs and be a little more open with their shareholders.

[rdpounder] 29/1/2007 18:26

Anyone digested the quarerly report yet then? Would be nice if they provided a brief summary wouldn't it! There's a fair bit to wade through, and after a long day at the office it's the last thing i wanna read.

[gryphon2] 23/1/2007 16:45

If we can get through 90 we might get through 100!

[rdpounder] 22/1/2007 18:56

Good, put a good offer on the table and put us out of our misery please!

[gryphon2] 22/1/2007 16:55

bought more today

[culchi] 22/1/2007 10:38

ref. my post 930 , hot copper posts over weekend full of speculation re. article in west australian by john phaceas (the west.com.au) jan. 20th (p70) re russian takeover of part or all of cnm (csm in aus.). Offer expected after australia weekend (jan. 29th) together with cnm trading update. ceo rod baxter is quoted as admitting talks with a party are ongoing but slowed due to christmas and new year breaks. A question of wait and see.

[lonrho] 22/1/2007 09:41

No news out so probably rumours on the transaction discussions or maybe nickel hitting record prices leading to upgrades.

[cwa1] 22/1/2007 09:05

Anyone idea why the modest uptick in Oz and here?

[gryphon2] 04/1/2007 00:34

bought back in today 10k ... feel an upturn coming

[energyi] 30/12/2006 12:01

UNDERWATER FEARS = = = ??

Canadian Income Management Trust suspends distributions

2006-12-19 18:10 ET - News Release

An anonymous director reports

CANADIAN INCOME MANAGEMENT TRUST 'TSX:CNM.UN' SUSPENDS DISTRIBUTIONS; CANADIAN INCOME MANAGEMENT INC. 'TSX:CAI.DB' SUSPENDS MANAGEMENT FEES

The board of directors of Canadian Income Management CIM Ltd., the administrator of Canadian Income Management Trust, has suspended its monthly distribution payment to unitholders until further notice, commencing with the suspension of distribution payment to unitholders of record of the trust as of Dec. 29, 2006.

This announcement is the result of a decision by the board of directors of Canadian Income Management Inc., in its capacity as general partner of Canadian Income Management LP, that it will not be making the Dec. 29, 2006, payment on the residual units of the partnership (99 per cent of which are held by the trust) until further notice, due to current market conditions and the corporation's obligations in respect of the debentures.

The board of directors of the trust also announces that the trust will not be making payment of distributions for the period of July 1, 2006, to Sept. 30, 2006.

The board of directors of the corporation, in its capacity as general partner of the partnership, announces that, effective Jan. 1, 2007, the management fees payable to Pro-Vest Management Inc., for management services provided to the partnership under the terms of the partnership management agreement, dated Feb. 21, 2006, have been suspended until further notice.

These prudent measures have been taken in order to enhance the net asset value of the trust and preserve the integrity of the debentures. The board of directors of the trust and the corporation will review future distribution policy and management fee payments on a quarterly basis, beginning March 31, 2007, to ensure consideration the best interests of unitholders and debentureholders.

[gb904150] 18/12/2006 11:50

I have topped up today. Why?

Well, despite the slightly negative beginning of the recent RNS i.e. production shortfall in Nickel at East Alpha the rest of the news was quite positive.

- CNM will increase nickel production from Beta Hunt to offset this shortfall
- hedged nickel production is lower in HY2. Thus greater exposure to a very strong current nickel price
- manganese production on track to achieve the forecast level of 900,000-925,000T for FY. Operating costs are in line - A$2.00-2.20/dmtu
- Chromite operations to achieve the forecast level of 240,000-250,000T for FY operating costs within target of A$127-140/tonne

The RNS mentions that Manganese and Chromite prices continue to firm. Nickel price remains strong.

So production targets are in line (except nickel, but shortfall recoverable), costs are in line and commodity prices for each division are firm.

Throw in the prospect of an offer for the company and what is not to like?

THE recovery play of 2007? Our next update (Q2 activities) should be end Jan.

[sogoesit] 13/12/2006 10:25

Well, we need some sort of resolution to the last news that they were discussing offers "that might, or might, not" go anywhere. maybe someone can do something with the nickel assets 'cos they don'y seem to have any effect on the share price while other nickel miners are at all time highs!
[i'm a holder, left with 30% of my original stake].
reegards,

[culchi] 13/12/2006 10:12

some interesting speculation on hot copper the free aussie discussion board. earlier vedanta were mentioned as interested. Latest comment says the following, : street talk section of afr has an article claiming russian funds headed by Brian Gilbertson (ex bhp boss)wants csm (cnm in uk) and a deal will be done withinn weeks. To be used as a vehicle to mop up other similar aussie companies. : dyor as this may be just rumour.

[energyi] 11/12/2006 09:31

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.