Financial Dev Share Discussion Threads

[pomp circumstance] 14/1/2005 09:14

Not the company we thought then.

Thres alot to read in that announcement!!

[susier] 14/1/2005 09:08

They're out of suspension

[brugha] 14/1/2005 08:26

Thanks PC :)

[pomp circumstance] 14/1/2005 08:20

they will issue a load of new shares eg (very simply explained)

100 shares worth a pound in a company = mkt cap of 100 quid

reverse in a company worth a 1000 quid.

Issue 1000 shares worth a quid each.

we have 1100 shares and co worth 1100 pounds

Shareprice = 1 pound.

And move up in shareprice will be because the combination of our companies cash and their companies business is seen as a the value of the whole is great than the sum of the two parts.

[brugha] 13/1/2005 19:53

Sorry if it sounds a bit thick but can anyone explain the mechanics of a reverse take-over?
Is there a huge dilution with stock being issued?

[pomp circumstance] 13/1/2005 17:39

hard to tell yet, depends on the terms of the reverse!

seems like a proper company thats reversing in, especially with Sheikh Hamdans involvement!! (assuming its THE SH and not any only Sheikh!!)

[bene449] 13/1/2005 17:32

Any thoughts on whether to sell when trading recommences, or is it worth holding onto?

[pomp circumstance] 13/1/2005 12:08

Inteesting to see Sheikh Al Maktoum of Dubai is involved here, I wonder if Ramsdens raing connection have come in here!!!


Energem Resources Related Organisations

has a share in: Canadian Gulf of Guinea Petroleum Corporation (51%), Canada
has a share in: Central African Mining Company SARL, Central African Republic
has a share in: GulfofGuinea Petroleum Corporation Inc (51%), Guinea
has a share in: Otterbea International (100%) - Auckland Park, South Africa
has a share in: Petroplus Africa (50%), Angola
has a share in: Republic House AG (60%), Switzerland
has a share in: Spectre International (51%), Kenya

has shareholder: Anglo American Corporation of SA Ltd (6%) - Johannesburg, South Africa
has shareholder: Capital Group (6%) - Geneva, Switzerland
has shareholder: Firebird Management LLC (1%) - New York, United States
has shareholder: JPMorgan Fleming (3%), United Kingdom
has shareholder: Kershner Grosso Consortium (1%), South Africa
has shareholder: Lyndhurst Ltd (41%), Canada
has shareholder: RAB Capital (3%), United Kingdom

Related Facilities
has a share in: Koidu - Diamond Mine in Sierra Leone (60%)
has a share in: Luo - Diamond Mine in Luapa River, Angola
has a share in: Yetwene - Diamond Mine in Angola

Related Projects
is principal in: Koidu Project
is principal in: Luo diamond project
is principal in: Mozambique - Malawi pipeline
is principal in: Yetwene project

Directors/Managers
President and CEO: Mr AT Teixeira (Antonio Tony)
Vice-Chairperson: Mr SH Al Maktoum (Sheikh)
Senior Vice President Legal and Corporate Affairs: Mr J Kanakakis (Jimmy)
Corporate Secretary: Mr B Poznanski (Bernard)
Chief Financial Officer: Mr R Rainey (Rob)

[pomp circumstance] 13/1/2005 12:03

About Us: Company Profile


• Resources company listed on the Toronto Stock Exchange
• Currently has a presence in 12 African countries
• Industry focus on mining and energy sectors
• Close to 1,000 employees ;


• Operating divisions:

• Mining & mineral exploration
• Mid-stream oil
• Up-stream oil
• Manufacture, logistics & supply division
• Commodity trading

TSE Listing

• Listed on the Toronto Stock Exchange
• CUSIP No.: 29267S 10 5
• Common shares outstanding: 106,154,971
• Warrants for common shares 18,001,368; ave. price Cdn 1.82 +/-2 year
• Current market capitalisation : CAD$ 170 million (approx.)



Major shareholders:

• Lyndhurst Ltd – controlling shareholder 41%
• Anglo African Holdings Ltd 8.3%
• Capital Research 6%
• RAB Capital 3%
• JP Morgan Fleming 2%
• Cedric International 2%
• Firebird Management LLC 1%

Africa

• The group is actively engaged in the countries highlighted

[pomp circumstance] 13/1/2005 11:59

DiamondWorks Ltd. changes name to Energem Resources
Inc.13:58 EDT Monday, June 21, 2004

TSX: ENM VANCOUVER, June 21 /CNW/ -

Further to shareholder and regulatory approvals received, DiamondWorks Ltd. has changed its name to Energem Resources Inc. ("Energem" or "the Company") and its common shares will commence trading on the Toronto Stock Exchange under the new name and the new trading symbol "ENM" at the opening of business on Tuesday, June 22, 2004.

In connection with the Company's name change, the Company has adopted a new form of share certificate showing the new name, new CUSIP number (29267 S 10 5) and new ISIN number (CA 29267S1056). New share certificates will be issued in the normal course further to share transfers and other share transactions. In the meantime, share certificates showing the former name will represent the common shares of Energem. Shareholders may, however, obtain the new form of share certificate by surrendering their existing share certificates to Computershare Trust Company of Canada, the Company's transfer agent.

Brian Menell, Chairman of the Company, in commenting on the change of name said :

"The renaming of the Company represents the culmination of the restructuring process commenced atthe beginning of 2001 and reflects the greater diversity of assets and projects now held by Energem Resources Inc.

Energem has grown from its roots in the diamond mining and exploration asset base of Diamondworks into a diversified natural resources company focusing on high margin mining and energy projects across the African continent.

Energem has assets and projects in mining and mineral exploration, mid stream oil, up stream oil and gas, industrial chemicals, logistics and commodity trading. The Company is presently active in 12 African countries and has close to 1000 employees."

CEO Tony Teixeira added :

"We believe we have created a robust asset base and a unique logistical and operational platform for the selective development of Africa's vast natural resource potential. Under our new name, Energem Resources Inc. we are now starting to reap the rewards of the building blocks that have been put inplace over the last three years".

This news release contains forward-looking statements which address future events and conditions which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities; geological interpretations; receipt and security of mineral property titles; fluctuations in diamond prices; currency fluctuations; changes in production costs; differences in ore grades, recoveryrates and tonnes mined from those expected; changes in mining rates from currently planned rates; and general market and industry conditions.

[morphy101] 13/1/2005 11:55

lol. Thanx. Once received I might top up on my FDC at 15p...

[pomp circumstance] 13/1/2005 11:54

VANCOUVER, Dec. 23 /CNW/ -

Energem Increases Stake in GGPC
-------------------------------


Energem Resources Inc. ("Energem") is pleased to announce that it has increased its equity interest in its controlled Canadian subsidiary, GulfofGuinea Petroleum Corporation Inc ("GGPC"), from 51% to 86% by purchase of a further 35% interest in GGPC from the minority shareholders. The price for the further 35% interest in GGPC is US$4,375,000, payable as to US$2,437,500 in cash and US$1,937,500 by the issue of 1,136,418 Energem common shares at Cdn.$2.08 per share. The total investment cost to Energem for the 86% stake in GGPC is US$6.6 million.
In addition, Energem advanced approximately US$1.2 million to GGPC under the terms of the US$1.5 million loan facility between Energem and GGPC to further the development of the East Orovinyare (EOV) and the JT2000/Epaemeno upstream oil blocks in Gabon to which GGPC, through two wholly-owned subsidiary companies (the "GGPC Subsidiaries"), has been awarded Production Sharing Agreements by the Government of Gabon.


GGPC Issues US$20.5 Million of Convertible Debentures
-----------------------------------------------------


Energem's subsidiary company GGPC has completed an offering of US$20.5 million of convertible debentures to a number of arms' length institutional investors. The convertible debentures will be secured by pledges of shares in the capital of the GGPC Subsidiaries.
The proposed transfer by GGPC of its interests in the GGPC Subsidiaries to any separately listed upstream oil focused public company controlled by Energem is currently under consideration by Energem. In the event of such transaction, the debentures will ultimately be converted into such number of listed company shares as is equal to the proportion that the amount owed under the convertible debentures (US$20.5 million plus interest) has to the value of the GGPC Subsidiaries (as will be set out in a valuation of the assets of the GGPC Subsidiaries). If the convertible debentures are not so converted on or before May 31, 2005, the principal and all interest accrued under the debentures will be repayable by GGPC in cash on that date.

The convertible debentures bear interest at 12% per annum. Interest accruing from December 22, 2004 to January 31, 2005 will be payable in cash by February 15, 2005. Interest accruing from January 31, 2005 will be added to the principal amount of the debentures for the purposes of conversion.

The proceeds from the debenture issue is to be utilized to further the development and acquisition of upstream oil assets owned or under negotiation for acquisition by GGPC. In addition, a portion, in the order of some 70%, of the funds raised, will be advanced by GGPC to Energem for the purposes of further upstream oil asset acquisition and development activities of Energem and to settle GGPC's indebtedness of approximately US$1.2 million to Energem. A fee of 7% of the amount raised under the convertible debenture offering is also payable by the issue of 1,038,264 Energem common shares at Cdn.$1.70 per share, subject to regulatory approval, failing which approval the fee will be payable in cash.

This news release contains forward-looking statements which address future events and conditions which are subject to various risks and uncertainties. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Energem Resources Inc. is a natural resources company listed on the Toronto Stock Exchange with projects in the energy and mining sectors in a number of African countries. Energem is committed to developing niche high margin natural resource projects in Africa and is currently active in 12 countries. Ventures encompass diamond mining and mineral exploration, mid- and up-stream oil and gas projects, energy and mining related manufacturing, trading and trade finance businesses operating off a common logistics platform and infrastructure. The company has offices and/or logistics and support infrastructure in Johannesburg, London, Beijing and a number of African countries.

[pomp circumstance] 13/1/2005 11:53

Last Trade: 1.84
Trade Time: Jan 12
Change: 0.00 (0.00%)
Prev Close: 1.84
Open: 1.85
Bid: 1.83 x 200
Ask: 1.85 x 4300
1y Target Est: N/A

Day's Range: 1.80 - 1.85
52wk Range: 1.24 - 2.60
Volume: 118,700
Avg Vol (3m): 121,577
Market Cap: N/A
P/E (ttm): 368.00
EPS (ttm): 0.005
Div & Yield: N/A (N/A)

[pomp circumstance] 13/1/2005 11:50

morp.

will send you 1/2 price of the times!! ;)

[pomp circumstance] 13/1/2005 11:49

West Africa, wonmderfull.

I spose FDC will be sending them some money to release oil!!



ARGHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH!!!!!!!

[morphy101] 13/1/2005 11:49

Thanx Pomp!! Just says that rumour is the reverse takeover involves Canadian listed Energem. Market Cap C$200m. Looked at their website. Mining operations all across central Africa. Ties up with earlier rumours. Think it could be next week announcement is made...

Hope I've saved you the price of a Times Pomp...

[sealed] 13/1/2005 11:48

LOL!--->778p

[sealed] 13/1/2005 11:47

January 13, 2005

Rumour of the Day



Dealers hear that assets due to be injected into Financial Development Corporation, the AIM cash shell suspended at 778p pending reverse bid talks, are the west African upstream oil and gas interests of Toronto-listed Energem Resources. The $200 million company has concessions in Chad, Gabon and Congo.

[morphy101] 13/1/2005 11:34

In The Times today...rumour of the day...

[dave102] 12/1/2005 23:03

i bought at 3p, sold at 6p, re bought at 8p, next day they stopped trading, what a ride!!!

[brugha] 09/1/2005 14:24

ho-hum

First week in the New Year over

When oh when will we heaR?

[michmush] 05/1/2005 10:03

which way do you see this going got wrapped in last take over hope this goes^

[neefax] 04/1/2005 22:46

Is Terry Ramsden still involved with company?????