Oriel Resources Share Discussion Threads

[unionhall] 14/9/2006 18:54

Steady about C$1 in Canada.

(Equivalent of 47p approx)

[flagon] 14/9/2006 18:17

Russians in move to take over Oriel
Evening Standard
14 September 2006



Interesting !! Guess it's sitting on hands time and wait to see what happens. Glad I hold.

Good luck to those on board here.


Flagon

[amurt] 14/9/2006 17:27

What does non-fungible mean? I've googled it but nothing obvious came up.

[2ar] 14/9/2006 16:52

The stock was suspended on TSX at 14:25 BST.

AIM listed stocks can be suspended for a maximum of 6 months before delisting is required.

[adam] 14/9/2006 16:49

Why? - Because AIM rules are different from TSX. Does seem odd though I agree.
Shares are non-fungible BTW - I checked.

[adam] 14/9/2006 16:36

No way of knowing, but it is still trading in Canada under the ticker ORL. Currently over $C1. I would think that it should be worth a lot more, depending of course on the details of any proposed takover.

[amurt] 14/9/2006 15:31

I know that there can be no certainty on the length of time any take over negotiations may take, but has anyone had any experiences of a similar situation as this regarding suspension of the shares and how long they may be suspended for?

[adam] 14/9/2006 10:10

unionhall. Given the likely size of the Evraz group (or the reverse takeover target) Oriel's listing is of little consequence itself, though the shareholder base could be of some interest like RAB. But there too, it is of small regard. No. The deal is of interest because of Oriel's assets and probably geography too. You want your Steel / Nickel / Chrome production reasonably near each other and near your potential customers ideally. So this fits that bill. Sounds like a win/win deal which are the best kind.

[wdurham] 14/9/2006 10:10

Think you are spot on, Adam.

If the deal is a reverse takeover under AIM rules, it means Oriel is "acquiring" something which is basically bigger than it is itself. (Check out the class tests in the AIM rules).

Looks very much as if a large outfit is reversing itself into Oriel to get the AIM listing as well as Oriel's assets. Current developments in the other 'Stans suggest that the "acquisition" is likely to be Russian rather than Western in nature.

[papalpower] 14/9/2006 10:04

Does he want some Moly for that steel unionhall ? I know a nice little company, very cheap he could buy ;) LOL..............

[2ar] 14/9/2006 10:04

RNS March 05

"The company has raised # 40.56 million and, after placing 62.4 million shares of 1p each at a market price of 65p per share"


So does anybody know how many of the 104m shares in issue are held by institutions ?

[unionhall] 14/9/2006 09:58

My thought Adam as Oriel mentions reverse takeover.

Perhaps to get exposure to UK funds through AIM? Would that make sense?

[adam] 14/9/2006 09:49

Steel producers like Abramovich's Evraz require Chrome / Nickel. Oriel have --> Chrome and Nickel. So it useful for him! If deal goes through it should go into orbit. It sounds like he is possibly reversing Evraz itself into Oriel !?

[unionhall] 14/9/2006 09:32

Well done and thanks for the news item....

I guess its possibly good news then.

Might make up for Eureka who announced bid talks, then mentioned they were short of cash, and dropped 30%.

[2ar] 14/9/2006 09:28

MOSCOW, Sept 14 - Russia's richest man, Roman Abramovich, is trying to acquire Britain's Oriel Resources Plc. , which plans to mine chromite and nickel in Kazakhstan, business daily Vedomosti reported on Thursday, citing a source close to the billionaire's partners.
Vedomosti said Alexander Nesis, co-owner of IST group, and Alexander Mamut, co-owner of Ingosstrakh insurance firm, would partner Abramovich, who in June acquired a 41 percent stake in Russia's largest steel maker, Evraz Group .
Nesis and Mamut had proposed merging Oriel with their own ferro-chrome assets, after which a majority stake would be offered to Abramovich, the newspaper said, citing a source close to IST group and a businessman close to Mamut.
IST spokesman Anton Laptev declined to comment on the report and Oriel officials in London were not immediately available.
John Mann, spokesman for Millhouse LLC, Abramovich's investment vehicle, also declined to comment on the report.
He reiterated comments by Millhouse head Eugene Shvidler last week that the company would conduct any activity in ferrous metals through Evraz. He did not say whether nickel or chromite, used in stainless steel making, fall into this category.
Oriel Resources says on its Web site it is positioned to supply the stainless steel market in Asia and Europe for the next 25 years. Its Shevchenko nickel project and Voskhod chromite deposit are both in the feasibility study stage.
St Petersburg-based IST is building the Tikhvin Ferroalloy Plant in the surrounding Leningrad region, scheduled to start by the end of this year, with annual capacity of 135,000 tonnes of ferro-chrome, an alloy used in the stainless steel industry.
Laptev said the plant would reach full capacity in 2007.
IST Group, with interests in shipbuilding and construction, last year sold Polymetal, Russia's second-biggest gold miner and top silver producer, to investment firm Nafta Moskva.

[2ar] 14/9/2006 08:40

Sneaked a buy in 8:27am

:)

[unionhall] 14/9/2006 08:38

Well, somebody is trying to take something over .....

What rumours ?



RNS Number:9431I
Oriel Resources PLC
14 September 2006


AIM: ORI
TSX: ORL
PRESS RELEASE
September 14, 2006

Oriel Resources plc

Further to recent share price movements and market rumour, Oriel Resources plc
("Oriel" or the "Company") (AIM:ORI, TSX:ORL) announces that it is in
discussions regarding a potential transaction (the "Transaction"), which, if
completed, would constitute a Reverse Takeover under the AIM Rules.

As a result of the announcement, trading on AIM of the Company's ordinary shares
will be temporarily suspended with immediate effect.

Although these discussions are at an advanced stage, there can be no certainty
that they will be concluded successfully. A further announcement will be made in
due course.

[2ar] 14/9/2006 08:31

Abramovich is trying to acquire ORI.

[madmax2] 07/9/2006 17:25

Trading pattern over the past week or two suggested that someone was hoovering up shares at any opportunity. Finally today it is announced that Morgan Stanley now has almost 11%. I think that's encouraging support. Hopefully it won't be too long before there is news on Voshkod financing and then I think a re-rating could well be on the cards.

[seagreen] 06/9/2006 14:36

That 250,000 at 39p was a buy yesterday I am told...dont get shaken out troops

[flagon] 31/8/2006 22:08

Link to full story alluded to above.




Good luck,


Flagon

[unionhall] 31/8/2006 12:51

Conclusion

I wouldn't invest anywhere in the Stans save for Kazakhstan, and if I could I would stick with metals over energies. They simply haven't been nationalized on the same scale as the oils in any area of the world.


http://www.resourceinvestor.com/pebble.asp?relid=23296

[adam] 30/8/2006 16:44

There is a buyer in size now operating at 41p (note T trades taking up sell action), I assume the same buyer. As yet does not appeared satisfied.