Consolidated Minerals Share Discussion Threads

[joan of arc] 29/5/2007 08:41

Can someone explain what is going on. Who is going to vote for a scheme that reduces the share value by 26p to 94p?

[rdpounder] 29/5/2007 08:32

Sammu, we have an RNS to that effect today

RNS Number:3246X
Consolidated Minerals Limited
29 May 2007

ASX / AIM Release
29 May 2007

PALLINGHURST TRANSACTION - ANNOUNCEMENT OF PALLINGHURST, AMCI AND INVESTEC
STRATEGIC ALLIANCE

Consolidated Minerals Limited (ASX:CSM, AIM:CNM, FSE:CMN) notes the announcement
(copy attached) made last night by Pallinghurst Resources (Pallinghurst), AMCI
ConsMin (Cayman) L.P (AMCI) and Investec plc (Investec) in relation to the
conclusion of a cooperation agreement between those parties to cooperate in
pursuing investment opportunities within the natural resources sector.

Consolidated Minerals is pleased that Investec has been invited by Pallinghurst
and AMCI to participate in the proposed transaction with Consolidated Minerals
that was the subject of the announcement by Consolidated Minerals on 23 February 2007.

Further details on the implications of Investec's involvement in the proposed
transaction will be provided in the Scheme booklet.

The draft Scheme documentation for the proposal has been lodged with the
Australian Securities and Investment Commission (ASIC).

Subject to the ASIC review and Court hearing dates, the company anticipates the
Scheme booklet will be sent to shareholders, optionholders and noteholders by
mid-June. The meetings to consider the proposal will be held in July. Full
details regarding timing will be included in the Scheme booklet.

[sammu] 29/5/2007 00:00

Article mentions Investec providing some finance for new company:



Amusing how they talk about it like it's a done deal.

Sam

[sandpipers] 28/5/2007 11:58

Hopefully the price will increase again in Aus on Tuesday although I think that UK market makers try to smooth the price more than in Aus. Aus$3 looks good which at 2.4 ER makes £1.25. Enough to make Gildertson see red!

[rdpounder] 28/5/2007 10:21

So, $2.42 to the £, should see us upto about £1.20 tomorrow

[sandpipers] 28/5/2007 09:35

Expect news Wednesday or Thursday this week about the impact of rocketing metal prices. Also Gilbertson flys into Aus tomorrow to try to rescue the deal.

[gryphon2] 28/5/2007 09:26

up 13c in oz last night .. hopefully will hold for tomorrows opening

[sandpipers] 27/5/2007 12:59

Manganese ore price lifts to highest level since Sep 05

London 25 May 2007 15:41

Manganese ore spot prices have jumped to levels last seen in September 2005 on supply disruptions at many major producers, while demand for ore ha s been holding unabated, market participants reported. Manganese alloys in Europe have been pushed up by the rising cost of ore, following similar trends in the USA and Asia . Manganese ore 48/50 percent manganese is now trading at $3.30-3.60 per mtu fob on the spot market, compared with $3.10-3.30 previously. Most tonnages from large suppliers are secured on long-term contracts, but the spot market has revived as demand for the ore surged this year, mainly driven by China . " The cause of all the drama in the manganese market has been coming from the very high price for ore because of the huge demand increase in China , " a large ore producer told MB. " But more important is that this has combined with significant disruptions in deliveries to China from almost all the major suppliers. " He referred to bottlenecks at ports from which Eramet has been shipping due to electricity problems, reduced ore output at CVRD ' s Azul mine, which will be exacerbated by the closure of the mine from June for six months, and reduced output from Ghana after the Ukrainian group Privat bought the mine. " BHP is having problems and not producing as much as they want, " added a second large producer source. " All of these are conspiring to put upward pressure on ore prices. The spot market is going through the roof. " A third producer source said Chinese traders are driving prices up even further by holding onto material, with reports in the market of prices as high as $5-5.30 per mtu cif. " When the ore price increase, the alloy prices follow, " said the third producer source. Indeed, the price for ferro-manganese and silico-manganese in Europe jumped to €800-850 ($1,076-1,143) per tonne delivered on both products, from €670- 705 and €700-730 respectively. Silico-manganese spot business has been transacted at levels over €900 per tonne, market participants reported. One silico-manganese producer reported achieving €1,000 in Europe .

" Steel demand is very strong in Eu rope , " said a manganese alloys producer. " We have customers asking for prompt delivery, but we struggle because we are full. " He said the European price on ferro-manganese with 7.5 percent carbon and silico-manganese basis 65-75 percent manganese has risen by at least €50 in the past wee k alone. " Had we spoken a week ago, the price would certainly have been lower. The market has taken all the fundamentals at play on board and has now just been propelled forward by momentum, " he said. All the producers said the jump in the spot price bodes well for the third-quarter contract n egotiations, which are due to start " pretty soon " . Copyright © Metal Bulletin PLC. All rights reserved.

[eastwind] 26/5/2007 21:37

Sharpshare, I think there is a big difference between ore and metal price. Maybe the price you quoted is the metal price.

[d000dler] 25/5/2007 11:54

I'm fairly sure I read somewhere (maybe even on this board)that CNM had forward sold at an agreed price to expressly hedge against price fluctuations - after being burnt with a price downturn last year? If so they must be kicking themselves now. Can anyone recall similar?

[sharpshare] 25/5/2007 11:15

According to:

Manganese is worth USD 3700 per ton (up 200% YTD)
If CNM mines 900,000 tons of Mn Ore at 48% Mn then the value of the Mn in the ore is worth about 900,000 * .48 * 3700 = USD 1,600 million.

[sharpshare] 24/5/2007 11:32

"Actual Results Of Chinese Manganese Metal In 2006 And Its Outlook For 2007 = Domestic Sales Exceeded Exports, Matter In Question Is How To Secure Raw Material To Be Required In 2007 The current price of Chinese electrolytic manganese metal for export is in the range of US$3,400 - 3,500 per ton CIF Japan, having risen by more than 2 times compared with that ( US$1,170 CIF ) in December of 2006.... A shortage of manganese ore as raw material for production of manganese ferro-alloys in China is becoming remarkable and the consumers concerned in China have already bidden for high grade manganese ore with Mn 48% at US$5.00 per Mn 1% CIF China."

[sandpipers] 22/5/2007 16:04

All quiet in Aus about a second bid. Upward movement might be due to increasing metal prices. A couple of weeks ago there was a crisis meeting in Melbourne to discuss how the board can convince shareholders to accept a ridiculous offer. I think the directors have decided to hide but there will be an update soon on certain aspects of mining.

[rdpounder] 22/5/2007 08:40

Are we gonna get another bidder or what then? The previous bid is looking a tad ridiculous now!

[sandpipers] 21/5/2007 08:16

Perhaps not. There was a 4.96% fall last Friday in Aus not reflected in the UK. Price about right but I'm willing to accept more!

[gryphon2] 21/5/2007 08:00

up 7c in oz last night should see that here today

[sandpipers] 17/5/2007 15:14

Big increases in metal prices, possible bids, and a realisation that revenues and profits will be higher than forecast.

[sogoesit] 17/5/2007 14:59

is this rising from the dead?
i had lost all hope and recently saw my holding turn positive after over a year being in the red!
what's cooking? Nickel driving the price (LOR being bid for)?
reegards,

[sandpipers] 17/5/2007 08:26

UK market markers seem to have forgotten to look at prices in Aus! Should be 2-3p higher. Still a few hours for them to catch up.

[leadersoffice] 17/5/2007 08:03

LOVELY!

Its exciting

[gryphon2] 17/5/2007 07:40

up 7 cents in Oz last night

[sharpshare] 16/5/2007 14:06

Heavy volume in Australia and in London.
This could be the consolation prize for not winning Lionore.

[sharpshare] 16/5/2007 13:24

Is someone stakebuilding?