Eurasian Share Discussion Threads

[kmann] 19/4/2013 14:26

Mining not my scene, but expect an after hours statement imo

[aleks_atanasov] 19/4/2013 14:25

allright my mistake... at least i have the balls to admit it... i dint count KAZ's stake so the consortium actually owns circa 55% not 76% as i thought when i first thought about it. In that case well... its doesnt look like when GDF bought IPR.

however you are wrong about the rest .... i made 15% profit in 20mins today.

last year traded CW., BLVN,RWD, SBT and CHG 's T/Os together netted me 80% profit. So on T/O situations i am kind of the champion

[al101uk] 19/4/2013 14:18

Can't fund much on how the UK works in instances like this, but minority shareholders seem to have some kind of right not to be completely ripped off in the US:

[dizzylizzy2] 19/4/2013 14:15

aleks - wow! easy dear boy, I feel your pain! Just flush your losses and forget about it, that's all.

If they had been buying the stock up they should be able to take this out at any price as it wouldn't matter overall but would deal a hammer blow to the people responsible for taking them thus far! I watch with interest.

[henley2] 19/4/2013 13:59

Smurfy why don't you read the rns!

[aleks_atanasov] 19/4/2013 13:59

dizzylizzy2 - Wow the last time I saw something like you, I flushed it.

[dizzylizzy2] 19/4/2013 13:54

seems like poor ole aleks is one!

[newswseller] 19/4/2013 13:42

I wonder how many people just got liquidated on todays move

[aleks_atanasov] 19/4/2013 13:37

to me this looks like International Power when GDF wanted to buy the rest of it. And here the government is involved too. if thats the case there wont be a 30% premium.

[dizzylizzy2] 19/4/2013 13:33

and, if the consortium is clever they would have been in the mkt buying heeavily when it fell to ~210p! I would before making the announcement and watch them burn. fire...fire...pants on fire!

[al101uk] 19/4/2013 13:33

8% of the shares in free float out on loan according to the Telegraph yesterday, going to be some shorts badly burnt by the move.

Shame I'm out, but not chasing.

[aleks_atanasov] 19/4/2013 13:32

i know it better than you... and my point was... if thats the case... longs should also close fuking now!

[dizzylizzy2] 19/4/2013 13:30

you forgetting the shorts have to close regardless of the offer price!

[aleks_atanasov] 19/4/2013 13:24

this is actually kind of crazy... this is not your usual 30-50% premium T/O

the consortium already owns most of it.

[al101uk] 19/4/2013 13:18

3rd most shorted stock on the ftse, should be interesting.

[ccr1958] 19/4/2013 13:15

rns ... its up 29% and in auction. ccr

[aleks_atanasov] 19/4/2013 13:12

this share price is kind of funny now..... the "consortium" owns 81% of the shares in issue... what am i missing why is this 20% up?

[ccr1958] 19/4/2013 13:11

interesting !!! just wait until the press get over this on w end back to £4.50 imo. ccr

[al101uk] 19/4/2013 13:06

Damn my limit sell, only put it on earlier this afternoon :-(

Just over 10% in less than 24 hours can't be sniffed at... but could have done so much better!

[bena1] 19/4/2013 11:42

From FT Alphaville.

Ok...

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Eurasian Natural Resources Corporation PLC (ENRC:LSE): Last: 236.00, up 6.2 (+2.70%), High: 243.00, Low: 232.50, Volume: 2.55mBlockPM


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Also, , obviously. But also

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Note this Lombard piece by Jonathan Guthrie a couple of days ago

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Eurasian erasure
Jagshemash! Borat, a comedy Kazakh played by Sacha Baron Cohen in a movie of the same name, visited the west, shocked the west and went home with a shiny new iPod. His exit could usefully be emulated by Kazakh miner Eurasian Natural Resources, despite the resentment Kazakhs feel at the misuse of their national identity in the cause of satire.
Corporate governance questions have dogged the FTSE 100 group since it floated in 2007. These are set to intensify after the Serious Fraud Office demanded documents from Dechert, a US law firm recently retained by ENRC that had raised concerns over alleged frauds totalling $100m.
Lossmaking ENRC, which is controlled by four oligarchs and the Kazakh government, is cold shouldered by our more fastidious western investors. It is unclear what purpose its UK listing serves aside from furnishing new embarrassments for a country that was dismayed by its misrepresentation in the 2006 mockumentary. "Opportunities to raise fresh capital are off the table," says Paul Gait of Bernstein.
One idea gaining traction would be for the Kazakhs to buy out the 18 per cent free float, cancel the listing and retreat to Astana. Debts of more than $5bn are mostly owed to Russian banks, who would be unlikely to impose tougher terms if there was a change of control. Disillusioned minority shareholders would probably accept a modest premium of 10-20 per cent. That implies a purchase price for the equity of around £650m.

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We are now told that Jonathan is on the money here

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So you are of the belief that a plan to take ENRC private is being worked on at the moment?

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Yep

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Don't know which oligarch is leading it

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But something is definitely happening here

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The source is unusual but credible

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Sources close to Mayfair hotel bars?

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Yes, the middle of Mayfair - but not a hedgie and not in an hotel

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Oh.

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ENRC

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There is of course a large difference between "being worked on" and "going to happen."

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Believe it will be departing the London market some time soon

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Sure sure.

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But existing non-Kazkh shareholders will take whatever they are offered here.

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We've said repeatedly that it'd be happier in private hands than with third-party shareholders to keep pacified. And the miniscule free float makes a deal easier to finance, of course.

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true

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(Shares now up 3.2%)

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Interesting two-way trade in that

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People obv selling into our story

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We would not be short

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(Caveat emptor, of course. But caveat nevertheless, if you've got the charlies for the bet.)

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But reader beware

[p bear] 19/4/2013 07:35

When you buy KAZ you buy 26% of ENRC. KAZ is almost 100% copper. ENRC is mainly Fe Ore and Fe Cr.

[racg] 19/4/2013 04:22

Yes, I will buy some ENRC.

[ch1ck] 18/4/2013 17:06

KAZ and ENRC are linked you r better off buying ENRC for any bid that may happen

[racg] 18/4/2013 13:30

not too bad, thinking of dipping a toe in on hear to balance my kaz but I notice their share charts show a high degree of correlation; so perhaps it is not spreading my risk as mich as I think it may.