First Quantum Minerals Share Discussion Threads

[routers] 07/8/2007 21:21

results maybe soon -

three month and six month results were released on august 8 2006

[routers] 28/7/2007 15:41

gardenboy

bumpy dog has found an interesting article on commodity prices in todays telegraph on the xta discussion board

[gardenboy] 25/7/2007 22:00

this green initiative looks a good move as Zambia's energy supplies will be tested as the country's economy expands,

Kansanshi(80% owned by FQM) to make biodiesel,

Wednesday, July 18, 2007

Kansanshi mining Plc has embarked on a bio diesel project that will see the mining company plant over 500,000 Jatropha trees this year.

Environmental Manager, Richard Zyambo told ZNBC that so far 40,000 trees have been planted under a pilot project covering five hectares.

He said 12,000 trees have been planted on the embarkment of the tailings dam.

Mr. Zyambo said Kansanshi also has plans to involve the community in the project that will see it grow over seven million Jatropha trees to make the project viable.

He said approximately $210,000 has been spent on the project so far.

[routers] 24/7/2007 23:42

hi gardenboy,

good call on selling some last couple of days,

i'm going to hold and sit this storm out.

brill rise for chl in 2007 well done

I have cey seems to have good prospects,

many thanks for miniweb article.

[gardenboy] 24/7/2007 20:33

Hi ROUTERS,

Reduced here a day or two ago. Looks a good move so far as heavily down on the TSE tonight. Hoping to reenter at some point.

AEP looking good, so is CHL :~)

good forecast for copper here,

[routers] 24/7/2007 20:19

gardenboy

great hearing growth rate in china exceeding 11%, which with the olypics in 2008,
next quarter could be 10%-11% not impossible when you consider average growth
rate in china over last 25 or so years is in excess of 9%-they need all the copper they can get.

ps. glad to see another stock we both hold aep hit new highs.

[gardenboy] 13/7/2007 20:38

news on strike at Kansanshi,







LONDON (Thomson Financial) - Copper prices fell on the news that workers at the Collahuasi mine in Chile have voted to end their four-day strike, bringing to an end one of several instances of industrial action affecting sentiment.

'As the news came in that the Collahuasi workers have accepted the management offer, the price came off,' said Standard Bank analyst, Mike Skinner.

The Collahuasi mine accounts for around 8 pct of output in the world's largest copper exporter.

Four hundred unionised workers at Zambia's Kansanshi mine also called off their three day strike after agreeing a new pay deal with management.

At 2.20 pm, LME copper for three-month delivery stood at 7,790 usd a tonne against 7,825 usd at the close yesterday.

Copper prices were further hit by key economic data out of the US, which showed weaker retail sales in June than analysts had predicted.

The Commerce Department reported Friday that retail sales fell by 0.9 percent last month, the biggest drop since August 2005. Demand for autos, furniture and building supplies all plunged. Analysts had predicted that the figure would be unchanged from last month.

'The US data provided more impetus for the idea that their economy might not be as mobile as we'd hoped,' said Skinner at Standard Bank.

Most analysts think this afternoon's drop in copper prices will be short-lived, underpinned by the weakening dollar -- which makes the red metal cheaper for buyers in other currencies -- and underlying supply fundamentals.

'With the dollar going down, the prices are underpinned,' said Skinner at Standard Bank. 'We should see some buying on the dips as buyers come in to do some bargain hunting.'

Furthermore, concerns remain about industrial action continuing elsewhere.

For one, contract workers at Chile's state-owned copper miner Codelco are continuing their strike over pay and conditions. Meanwhile, Xstrata's CCR copper refinery in Montreal is operating at around a quarter of capacity due to a strike that began on June 11, according to press reports.

The strikes are seen hitting supply, leading some banks to upgrade forecasts for the red metal. Investment bank Calyon upped its 2007 full-year copper price forecast to 7,330 usd per tonne from 6,920 usd, largely on the market reaction to the strikes. It also raised its 2008 forecast to 7,060 usd from 6,000 usd on supply tightness.

Earlier, copper had edged higher after stockpiles of the metal monitored by the Shanghai Futures Exchange rose less than expected, with supply fears continuing to underpin the market.

Copper stockpiles in warehouses monitored by the SHFE rose by 8,911 tonnes to 92,002 tonnes, the exchange said -- slightly less than the 10,000 tonne rise analysts had predicted.

Rumours of the build had sparked a sell-off in the metal yesterday afternoon.

[gardenboy] 13/7/2007 10:33

wba,

It is main listed now but lacks enough liquidity over here for FTSE - strange business. After the bidding war for LOR, I wouldn't accept first t/o price

will look at MML

[wba112233] 13/7/2007 08:32

Gardenboy -
thanks for mentioning this share - have to say I'm a bit gobsmacked. It's been up over 2% each of the 3 days I've looked at it so far, massive cap yet nobody's heard of it. difficult to know whether I am too late or not. Do we know whether the company, or people in the city do think it has main listing (& therefore possibly FTSE 250 or FTSE100) aspirations or if this is likely with Toronto listed stock ? also I note that you felt the £60 takeover price (mentioned in article) was a bit low - what do you think more likely ? Either way, a fascinating share ! If you are into copper (which you obviously are) had a tip (that indirectly came from a very schrewd big investor who is big into copper & other things) that MML has possibilities. It's gold but they've found the beginning of what might be interesting copper deposits. I'd be interested what you think of it. Cheers , wba

[routers] 11/7/2007 22:25

LME copper at approx 99,000 tonnes

warehouse stocks continue lower

strikes continue

stockprice goes up

[mr ashley james] 11/7/2007 05:50

Time to sell Gardenboy IMHO

[routers] 10/7/2007 23:40

gardenboy,

lionore - great chart past 18 months, good call

have you checked fqm on tsx over 1 million traded closed at $c108.75 on a down day hm

[gardenboy] 10/7/2007 23:15

ROUTERS,

good evening,

we could see a t/o - my first thought was to put my Lionore cash here. Another quality miner that one of the majors would like to take for themselves. XTA, for instance, does not have any African copper in it's portfolio,

[routers] 10/7/2007 23:03

gardenboy - many thanks your research it is much appreciated.

just a few thoughts for you to ponder

£3.7 billion cap approx to get into ftse 100

so £ 56.72 approx entry price (because its a secondry listing and low trading volume may not qualify)

$c120 @2.13 fx = £56.33

so at around £56 an approach could be made,- if no approach fund managers buying
will drive price up and they will want a reasonable return to sell to a predator.

a 30% premium on £56 gives £73 approx.

no advice intended - just thinking out loud,

thoughts, comments welcomed from gardenboy and all.

[gardenboy] 10/7/2007 00:05

t/o value a trifle low - you've got to laugh



9/7/07

"Takeout Value" for First Quantum

With all the takeover activity in in the base metal sector, speculation that copper producer First Quantum Minerals Ltd. (FM/TSX) could be bought is at an all-time high. Desjardins Securities analyst John Hughes has upgraded the stock from "buy" to "hold," and lifted his price target all the way from $86.50 to $120 based on his assumption of "continued consolidation" in base metals. He calls $120 a share a "takeout value."

"We recognize that valuing First Quantum shares using this approach involves less science and more art," he wrote in a note to clients.

But he feels the valuation is justified based on recent takeover bids for Aur Resources Inc. (AUR/TSX) and Alcan Inc. (AL/TSX) The bid for Aur represents a multiple of 11.9 times the Desjardins forecast for the company's earnings in 2008. Using a similar multiple of 12 times for First Quantum, he reaches the takeout value of $120 a share.

Mr. Hughes added that his price target reflects First Quantum's current production profile, and does not take account of potential development associated with the company's Kolwezi Tailings resource in the Democratic Republic of Congo.

[gardenboy] 09/7/2007 23:53

ROUTERS, interesting

copper mining strikes biting,

"With stocks still relatively low in historical terms, a prolonged labour
strike could quickly erode stocks.
A strike at Chile's third-largest mine, Collahuasi, went ahead today.
Workers at Codelco, the country's biggest mine, have been on strike over a pay
dispute since June 25. Potential strikes in Peru, where around 110,000 workers
may walk out for two days tomorrow as part of their bid to win the right to form new unions. Meanwhile, in Canada, the strike at Xstrata's Montreal copper
refinery, which has been running since early June, still continues."

[routers] 09/7/2007 22:54

big increase in number of trades - people are begining to take notice

139 trades on july 9
31 trades on july 6
35 trades on july 5
23 trades on july 4

[routers] 09/7/2007 20:39

strikes in south america helping cooper price also

5 years ago LME had approx 900k tons
6 months ago LME had approx 195k tons
30 days ago LME had approx 124k tons
today LME has approx 102k tons

warehouse supplies dwindling fast

supply and demand - i believe shareprice will continue higher.

[beckwith] 09/7/2007 20:19

Now this one is starting to look very interesting, only wish I had upped my holding last week, looking forward to where it could be by the end of the month

[khitchen] 09/7/2007 16:25

is anyone out there watching this share except me

[gardenboy] 06/7/2007 21:55

nice and quiet as we hit a new high :~)