Mineral Sec Share Discussion Threads

[magnus9] 26/7/2007 10:44

I've got a little side bet on Herencia Res (HER) as Minsec own 39.75%. Be great if they "did a Buka".

[whealan] 26/7/2007 10:11

Buka therefore up about 300% in 2 days or a couple of pence a share at Minsec level. Pity I hadn't got round to getting Buka shares direct but they may come back a bit.

[djalan] 26/7/2007 08:03

Buka Gold up a further 50% overnight in Oz

MXX holds 58%

[whealan] 26/7/2007 00:02

djalan

No, I'm here. But I am quite happy to buy on the ASX. My broker cleverly recommended Minsec and I bought some but he hadn't heard of the options which I found out about through looking at the financials on ADVFN I think.. I'm afraid one has to do one's own homework because brokers are pretty superficial on the whole and rely on what they are given by the analysts in house. I looked into the underlying investments and subsequently bought into Platmin directly I'm glad to say and into Minsec CDI's during the suspension on the back of Platmin's price increase although that hasn't paid off yet.

I think we need to be a bit careful about this skittish market as exploration shares could go out with the bathwater price-wise but I am very relaxed about the way our prospects in Minsec are being handled by their management, at least in the medium term.

[djalan] 25/7/2007 15:18

whealan

Are you in Oz ?

[whealan] 25/7/2007 15:13

djalan

Let's hope MXX is one of those. At least I got into the options at 30c.

[djalan] 25/7/2007 14:57

whealan
Not always -- Western Mining WMC, found nickel at Kambalda WA
They went on and on.........

Wish I had bought a few of those when they were only a few cents

[whealan] 25/7/2007 14:48

djalan

And back again to even fewer pennies I'm afraid. What goes up like a rocket comes down like stick. Always has, always will!

[djalan] 25/7/2007 14:29

whealan

Aye, Poseidon - that takes us back awhile

Your man djal was there at Mt Whindarra WA when they were drilling the third hole

SP went from a few pennies to several ££s

...........those were the days my friend...................

[whealan] 25/7/2007 13:33

An ISA investment could be made for some of the underlying quoted investments in which Minsec has a stake. Specifically
Copper Co
Tianshan Goldfields
Mineral Sands
Buka Gold

are all quoted on the ASX and Platmin as discussed earlier is quoted on TSX. High risk without the spread of course and not for the faint-hearted (remember Poseidon).

[djalan] 25/7/2007 10:18

Buka Gold Limited

(Scarborough 58.4%)
Shares in issue 57,730,000 fully paid ordinary shares

[djalan] 25/7/2007 09:58

(BKG) Buka Gold -- share price 22 cent up 150% overnight in Oz

Didn't Scarborough hold some of those ?

[magnus9] 25/7/2007 01:12

I was told by Barclays that I could sell the MXX shares in my ISA from my online account. It turns out I can't - the shares are effectively frozen in the account - very unnacceptable. I dread to think what Barclays are capable of doing.

but on the bright side:



PRESS RELEASE
SIGNIFICANT GOLD & SILVER DISCOVERY
25 July 2007
Buka Gold today released details of a potentially significant new mineral discovery on its Mt Scotchy tenements, just 25 kms from its Gympie gold mine.
Gold grades of up to 28g/t, silver up to 769g/t and lead up to 10% have been returned from an initial 26 rock chip samples. The average across the 26 samples was a high 8g/t gold, 162g/t silver and nearly 4% lead. The mineralised zone has already been identified as having a potential strike length of over a kilometre.

[magnus9] 24/7/2007 19:49

nutt
Thanks for the Hargreaves Lansdown reference - they look interesting.

[bionicdog] 24/7/2007 18:36

tonerona
There are plenty who will do it mate , I remember an in depth inquest into it on the ACU BB a while back.

[whealan] 24/7/2007 17:16

Shares in an ISA have to be quoted on a recognised stock exchange. There is a list. AIM is not on it. Toronto for example is. Being quoted on AIM is not a barrier to inclusion in an ISA as long as the share is also quoted on one of the recognised exchanges on the list.

[nutt] 24/7/2007 16:01

TD Waterhouse will not allow these to be held in an ISA.Hargreaves will.I have found TD Waterhouse most unhelpful.

[tonerona] 24/7/2007 10:28

Thanks Whealon.
BTW I have found Td Waterhouse to be the most accomadating when it comes to ISAs.I hold African Copper an AIM stock with a listing on the TSX with them.
I believe they are the only broker who will allow ACU to be held in an ISA.

[magnus9] 24/7/2007 09:55

Whammo

But can you still trade your MXX within the ISA? Mine are still in my Barclays ISA but I can only sell them - I can't add more. I was informed this morning over the phone that Barclays deem MXX as inelligible for an ISA. I'm looking into a transfer to Selftrade as they have an offer, valid till 31st July, of reimbursing transfer costs up to £400. Failing that I think it's back to good old Dana Petroleum!

[whammo] 24/7/2007 09:44

My original Greenwich/Scarborough shareholding was held in an ISA with Halifax Share Dealing Services. The Mineral Securities shares that I received in exchange for these remain held in the ISA. This could be a precedent for HSD to take additional ISA holdings for anyone who can't wait for other brokers to follow suit.

Good luck!

[steeplejack] 24/7/2007 09:32

Barclays stockbrokers are unlikely to regard MXX as ISAable. Neither Sylvania or Dwyka are regarded as ISAable by Barclays They are regarded as Overseas stocks since they are incorporated in Australia and i strongly suspect MXX will fall into the same category.It would appear that brokers can exercise a bit of discretion as to whether they allow or not allow eligibility. Anyway,Barclays tell me they are reviewing their procedures but when or if any changes are made ,who knows. From what i can gather,Selftrade are more flexible.

[whealan] 23/7/2007 19:52

tonerona

At admission there were potentially 177,770,216 shares in issue on a fully diluted basis excluding those held by subsidiaries according to the admission particulars on the Minsec website. ADYOR

[whealan] 23/7/2007 18:07

Magnus9

That is very helpful indeed. From what I could read in the Guidance notes for PEP/ISA Managers before it decided I had seen enough and vanished for ever, a CDI appears to be a Crest Depository Interest. A Chess Depository Interest, which is what these are, appears to be an Australian version thereof . Similar in some ways to an ADR. In order to see whether a CDI is a qualifying investment for PEP/ISA purposes however you have to look through it to the underlying share. In this case that is Minsec which is not a qualifying share as it is only quoted on AIM . It is certain of the options and CDI's which are quoted on the ASX. This at least is my interpretation but it needs to be checked with the PEP/ISA manager

Platmin however should qualify as it is quoted on the Toronto Stock Exchange which is recognised, if that is the particular exposure one wants.

[tonerona] 23/7/2007 17:01

Can anyone tell me how many shares are in issue now please?