Mining Minerals & Metals Share Discussion Threads

[1waving] 31/7/2009 12:46

Arnhold and S. Bleichroeder

"After moving to the United States, the firm concentrated on asset management, institutional securities brokerage and clearance, global securities research and trading, and advising European companies seeking acquisitions and capital in the United States. Over 60 years later, after selling the investment banking and global securities business in 2002, Arnhold and S. Bleichroeder continues to provide asset management advisory services in an ever-expanding global market. Our long tradition as private bankers and our appreciation of global business help us serve our clients with integrity and intelligence."

[1waving] 31/7/2009 12:40

The first RNS this morning -------- Major short position ?????????

Why and on whose behalf ?????????


1.KEY INFORMATION


Name of person dealing(Note 1) Arnhold and S. Bleichroeder Advisers, LLC
=--------------------------------------------------------------------------
Company dealt in Glencar Mining Plc
=--------------------------------------------------------------------------
Class of relevant security Ord Eur 0.031
to which the dealings
being disclosed relate(Note 2)
=--------------------------------------------------------------------------
Date of dealing July 30, 2009
=--------------------------------------------------------------------------


3.DEALINGS (Note 4)


(a)Purchases and sales


Purchase/sale Number of securities Price per unit(Note 5)
=-----------------------------------------------------------
=-----------------------------------------------------------


(b)Derivatives transactions (other than option transactions)


Product name, Long/short(Note 6) Number Price per unit(Note
e.g. CFD of securities(Note 5)
7)
=--------------------------------------------------------------------------
CFD Short 10,752,000 GBP 0.0900
=--------------------------------------------------------------------------

---------------------------------

Major short position bought out by GF by the looks of the RNS

Share Price suppression ----- on whose behalf and for how long had that position been in place. ??

Why would that short position be held up to the GF bid ??

Bleichroder Advisers LLC ??

Lots of questions on that position and the motivation behind it !!!!!!!

[wispaman] 31/7/2009 12:21

hi Doc, as I said in post 5187.
Just need some to contact them.
They can have voting control of my shares.

wispa

[dr fillip strange] 31/7/2009 12:03

GF may have 30% but we have 70% (whoever we are?)

maybe its time to give Macquarie a call and see what's going on .. they can't be happy with the negative return on their purchase last June...


Macquarie purchased 11,250,000 new ordinary shares on 26 June 2008 at a price
of 9 pence (c 11.35 cent) per share, a premium to the current market
price. Warrants have also been issued to Macquarie on the basis of
one warrant to purchase a new ordinary share for every two New
Ordinary Shares purchased under the placing, at an exercise price of
13.5 pence (c 17 cent)

[willyworm2] 31/7/2009 10:43

Dogdig, I'm not so sure, in fact I am beginning to think that GF have played this to a tee. With 30% in the bag any competing bid will have to come through sooner rather than later, and may well be too late given GFs current holding. They havn't even published the takeover documents yet so its still very early to have 30%. Key question will be whether PI are willing to take the risk of a slump back to 4p or accept the low offer and move on. I have to admit I waver between the two.

[andy] 31/7/2009 10:41

Great article on gold stocks!

[haydock] 31/7/2009 10:20

Well at least we are at the top of the list & the world knows all about Glencar:

[haydock] 31/7/2009 09:25

Puzzling pattern of trade records & sales.
Some listed at 9p buy, & some 8.88p sell.
Some yesterday bought by the broker & some listed as a short, but actually selling the shares, covering?
Still we can only watch for the trend & it does look on the slow side for the p/i's who have the whip hand here.It is early days yet & the offer document might just make the gold found & potential look a little too tasty to sell, it will run to many pages & ounces, for not a lot.
Also Goldfields will have to update their work for all to see?The j/v's might look tasty.
However they will hope that a deadline will flush the rest out.
No update so far though.

[wispaman] 31/7/2009 08:47

yes that was the 10mil trade yesterday, he sold out.
wispa

[willyworm2] 31/7/2009 08:32

Can anybody make sense of the CFD trading of Arnhold S.Bleichroed as reported in the news section ???

[1waving] 30/7/2009 17:12

Reckon that large trade today was Credit Suisse. Apart from that under a paltry 300k shares were traded.

[investinggarden] 30/7/2009 16:49

Gold Fields ups Glencar stake

[ukgeorge] 30/7/2009 16:04

i've been selling what few i had of these and buying a few more hoc. kept a few just in case another bid comes in but feel it is unlikely

[1waving] 30/7/2009 14:30

Looks like it at just over 3%. Think GF are having to working hard on the larger institutional holders. Makes me wonder what goes on behind the scenes. Macquarie and CDC Group are the two 'biggies' with over 6% each.

[haydock] 30/7/2009 13:49

A large 10m trade has gone through. Insti??

[1waving] 30/7/2009 12:21

Haydock -- this one does look a possibility ----
'APF bid for Royalco in Aus.Upped the bid last offer & ended up with an unrecommended opposed bid producing a 30% holding & an offer of a seat on the board.
Note that, could that happen here?'

but I do think moves will be made from elsewhere, whether another offer, a JV or deal of some kind.

Holdings RNS out has GF with a little over 24% at the moment, their momentum has slowed markedly. Considering they held 9.1% initially and had already lined up JP Morgan's 4.2% and maybe a few more, they have only picked up a maximum in the market so far of 11% and volume is slowing dramatically.

Both institutions and PIs seem to be in accord here. GF bid is not popular at all.

Volume so far today has slowed even more and is a very thin 69,400 at present, but have to bear in mind many trades are being reported after the close.

Thanks for that input haydock -- more options on what could happen.

[share_shark] 30/7/2009 05:50

Small part of the article.Mention of Glencar(little mention).




At this point in time, among gold heavyweights, Kinross remains the price leader, a status held for some weeks, followed by China's Zijin, and then Goldcorp, a volatile stock, but one that tends to be a useful indicator for the overall direction of gold stocks. Measured on its NYSE price, Goldcorp has ranged between USD 13.84 a share and USD 40.90 over the past 12 months, with current trades around the USD 35.66 mark. Seen over a longer period, AngloGold Ashanti has ranked as price leader among global Tier I gold diggers; it remains among the most 60 in-demand gold stocks globally.

Gold stocks at the top of the in-demand pile include Mali-focused Glencar Mining, under firm bid from Tier I member Gold Fields; Continental Mines, which holds the Xietongmen project in China, and Evolving Gold, running high on drill results at its Rattlesnake project in Wyoming.

[serpicouk] 29/7/2009 21:26

What % are GF up to now? Around 25%?

So they need another 25% to quash any further aggressive bid - I can't see another company making a move once GF get past 50%.

Luckily this is happening during the wet season so shouldn't impact on any GEX activities.

If HmC is continuing to work to maximise shareholder value he should (if possible) be forcing GF to disclose all data on the Sankarani concession. We still have very little idea about the scope and scale over there.

Do we need another offer? - what about another JV offer from say Randgold (would have to be careful with them as well mind). Is Jeff putting it out there or is he now a GF man?

[1waving] 29/7/2009 16:52

Dr F -- thanks for that. Answers a question for me.

The question on my mind was for a large trade that went through after the close yesterday. It was for a million or over from memory and was for 9.01p.

That was someone other than Gold Fields making that purchase then as it was over 9p.

EDIT. and here it is -- 1 million at 9.013p


27 ZE001RCKHH 9.013 1000000 O C 8.75 9.0 16:39:08 1,000,000

[dr fillip strange] 29/7/2009 16:44

I phoned the Irish takeover panel this afternoon to clarify a few things.

from last Friday GF have 28 days to post out the offer document, then a further 60 days before the offer period ends.

If GF buy Glencar shares at a price that is higher than the 9p offer price, then the offer price is automatically raised to that price..

[spaceparallax] 29/7/2009 16:41

The problem re valuation is that it is impossible, especially in tough times like now.

[dogdig] 29/7/2009 16:30

Hugh can protest as much as he likes - but the fact remains that he and the Board have recommended an offer which seriously undervalues our assets and in my view this is on the same moral level as theft.
We can always hope that another bidder emerges - this is too rich a picking to give away.