Mineral Sec Share Discussion Threads

[pillion] 15/2/2008 18:24

Perhaps Crespo has had enough of Oxford and is heading back down under

No response to my email asking if it would remain on AIM

[magnus9] 15/2/2008 17:27

Perhaps Crespigny is going to make the same "arduous" efforts to make sure the new outfit gets a full listing on the LSE as he did with Scarborough. Then they'll produce a pile of accounts like the the last lot which by his own admission were virtually unintelligible.
Bad egg! Bad egg, I say!

[p@] 15/2/2008 16:50

HSBC Tells me today that AIM listing will be cancelled when offer goes unconditional,but I am keeping mine with the plat price at $2000+.

[pillion] 12/2/2008 02:05

Report on Tianshan Gold

[pillion] 07/2/2008 00:59

MXX latest update

[utwiq] 05/2/2008 16:14

there is a good CUO presentation from August 07 on their website (although be warned it is a very large file); worth a look, just to see the production profile and cost estimates; various broker estimates also, with targets up to and beyond A$1.50 I think... which would be nice (after the merger closes)

[utwiq] 05/2/2008 16:12

nutt - that's a fair point, and my apologies for having initially assumed (from the merger presentation) that this was settled (they may still be deciding?)

I hope it'll be AIM listed also, both for the sake of the relevant MXX investors (you and I included), as well as for access to London capital markets

however, I wonder if management are thinking liquidity, etc. will be better if they are just ASX-listed; AIM is so awful in this regard that they might be right!

[nutt] 05/2/2008 16:11

utwiq thanks for you post.I know very little about cuo.It would not suprise me if ppn was not in their merger mind sometime in the future.

[nutt] 05/2/2008 16:03

utwig I do hope you're right as both listings would help but I think it looks like just ASX.When the merger was announced with mxx they announced the aim listing straight away.

[utwiq] 05/2/2008 15:57

fwiw - I've been thinking a lot about the merits of this deal

MXX management have a major stake in the company, per my post above, so I don't think they are just empirebuilding or happily diluting us mere mortals; I think this will be an honest attempt to build long-term value

both CUO and MXX private shareholders seem to be annoyed by the proposed deal, and I can understand why - CUO has just hit production and is trading at a very low price and obviously MXX is massively discounted to its equity holdings (not to mention its directly held interest) - however this strikes me as a good sign!

the deal is not to either party's immediate advantage; that is, no one is getting the better of the deal, but it is a medium term win-win

we (MXX shareholders) get access to major cashflow; I remember thinking, just before the merger, that at $2.50 copper, CUO was effectively on a P/E of 2.5 (rough figures; not accounting for tax!), and that MXX should up its stake

as it is, the enlarged group will have a suite of excellent development projects (which is what we bring to the table) and massive cashflow (the CUO contribution) with which to fund development, service debt for major acquisitions, etc.

the rationale, I think, (not terribly well expressed thus far) is that the enlarged group will have a better shot at realising the value of CUO's cashflow and MXX's development suite than would either on their own; I know this was the rationale for MXX/SCRB as well, but it made sense then too, and it makes even more given the intervening market changes, with capital raising being more difficlt and share price volatility being notable

MXX/CUO will be capable of serious value-adding development and corporate action once they've merged; the resulting company will be roughly (I'll give exact figures later) $400m MCap, with $250m in listed assets, $100m/annum cashflow and some very valuable directly held development projects (Loretta, Sappes); on reflection, I'm happy with the deal, although of course I'd love the value in MXX to have been recognised earlier and more fully...

[utwiq] 05/2/2008 15:49

pillion - when did you email them? I've emailed in the past and had contact at a later stage, not the same day by any means, but useful/detailed in the end; I think the "true to form" is a bit harsh, but you may have a history

nutt - I thought the merger document/presentation made it pretty clear; I've just looked at it again and it doesn't seem to say so explicitly, but the implication is strong (there are two slides drawing comparisons between NewCopperCo and their ASX-listed peers and then their Aim-listed peers)

I might be wrong (obviously), but I'd have thought they'd be keen to retain both listings; certainly a fair question to ask management

[pillion] 05/2/2008 15:37

Will the new conglomerate be quoted on AIM ?

I sent an email to MXX asking same

True to form -- no response

[nutt] 05/2/2008 15:31

Utwig why do you think there will be an aim listing?

[nutt] 05/2/2008 15:28

No only ASX has been stated so far.

[utwiq] 05/2/2008 15:28

nutt - 4.632m (Keith Lidell has another 5.041m and the directors and senior management in total own 12.456m, not counting the long term incentive scheme...), so he and they have a serious interest and won't be diluting their holdings to no good effect

pillion - yes, definitely

[pillion] 05/2/2008 15:00

Dunno Nutt, he'll be running the Copperco show that's for sure

Will the new conglomerate be quoted on AIM ?

[nutt] 05/2/2008 10:48

Anybody know how many shares De Crispigny has in mxx?

[pillion] 04/2/2008 15:47

MXX will not exist come summer

[whammo] 04/2/2008 11:14

Nutt - HSDL (Halifax) also allow MXX as ISA permissible. Just in case Hargreaves renege.... Mike?

[nutt] 04/2/2008 10:19

Hargreaves have agreed...Now I can relax knowing I won't have to pay tax on my gains!

[scribbler101] 03/2/2008 21:31

The ISA RULES allow anything quoted on "a recognised exchange". And there is a list of what that means. AIM ain't on it, but a secondary listing on something foreign that is approved will be fine sir.

You may have trouble getting so-called "brokers" to understand. Pay peanuts - deal with...

[nutt] 03/2/2008 21:15

A distant dream maybe,but as I went to considerable trouble to transfer all my holdings last time as some brokers refuse to accept mxx as Isa or pepable,I would still like to keep the tax wrapper and dream on all be it @ 18% saving.Todate T.D.Waterhouse still say you can't hold mxx,so It would be awaste of time to ask about the copperco,Hargreaves don't know but don't seem keen on dealing on ASX.I have made some other enquires and will post when I get replys.

[pillion] 02/2/2008 17:54

Nutt
Isa & Peps have been discussed at length in previous posts on this thread

Capital gains................. a distant dream

[nutt] 02/2/2008 14:21

Any feed back on brokers re Isa & Peps would be helpful.I go to great lengths with this share to protect my future capitial gains from tax!

[pillion] 31/1/2008 22:40

Mineral Securities and CopperCo To Re-Marry, Shareholders Permitting
"The focus", says Keith Liddell, "is on platinum and gold, and on copper and zinc". He's talking about the new line up of assets inside his mining finance house Mineral Securities (Minsec) if the planned merger with Australian

Full story...
Minews Story: January 30, 2008