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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Xceldiam | XLD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.00 | 2.00 |
| Top Posts |
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Posted at 08/8/2007 19:02 by chancer6 Xceldiam Investing StrategyXceldiam's shares continued to trade on AIM following the disposal. The directors of Xceldiam continue to pursue new investment opportunities in the mining sector in accordance with Xceldiam's investing strategy. The US$1.25 million cash reserves in Xceldiam, less the Company's operating costs over the next 12 months, which are expected to be approximately US$600,000, will be invested by the directors as follows, whereby the Company will: * either (i) invest by way of purchasing shares in diamond companies, or other resource opportunities, which hold exploration or mining licences in the sub-Saharan region of Africa, most notably the Democratic Republic of Congo (" DRC"), or (ii) acquire the assets held by these companies. The recent democratic elections in the DRC, and the revision of its mining legislation, makes this country in the opinion of Michael Nunn and Mark Summers (being the remaining directors after completion of the Disposal) (the "Remaining Directors") a good target for exploration and mining activities; * make an investment or acquisition within 12 months of the date of the EGM, failing which it will return all funds held by the Company to its shareholders by way of dividend; * make only one or two key investments or acquisitions with the funds it currently holds; * if it chooses to invest, by way of purchase of shares, rather than by way of acquisition of assets it will be an active investor in the way that it manages those investments; and * if it chooses to acquire further assets it will be the intention of Xceldiam to initially rely on the corporate finance, legal and geological skills base along with the investor base that is available from companies associated with Michael Nunn to facilitate initial assessment of new projects and investments. Following which, Xceldiam will appoint full time staff to the projects should it be deemed appropriate. |
Posted at 02/3/2007 18:05 by din007 Shavian, thanks for your suggestion.I think many investors wanted the Cash Option, not just myself. Maybe even Cash\Shares would have been helpfull. Also bit of a Surprise that Xceldiam are turning into a Cash Shell. And Petra is not buying them out totally. Is this because Xceldiam has something else in mind? Management have been very good in this company and I hope that they have other opertunities lined up. I`m in the money whatever happens, but am interested in hearing more. Maybe I`ll try and take the day off work and pop down the EGM myself. |
Posted at 24/2/2007 10:09 by simon54 Here you go:February 21, 2007 Petra Diamonds Odds-On Favourite To Be Bidder For Xceldiam, But It Has Opposition Almost exactly a month ago AIM listed Xceldiam announced that it was in advanced stage negotiations which could lead to an offer of around 50 p being made for the company or one of its subsidiaries. Minews did not bother to comment at the time as so many talks come to nothing, and if it was a subsidiary that was acquired it might not have a major impact on the share price anyway. In fact investors must have just about given up hope of a bid appearing to judge by the 2.5p drop in the share price last week to 43p. In the event an offer now seems to have been received, though chief executive Tim George is revealing nothing about it until his board of directors have had a chance to evaluate its merits and make a recommendation to shareholders. Fair enough, but the odds are overwhelmingly in favour of the acquisitor being Petra Diamonds as this is the company with which Xceldiam became involved in a strategic relationship last summer. This deal made a lot of sense as Xceldiam's Luangue project in north east Angola is contiguous with the Alto Cuilo kimberlite project controlled by the Petra Diamonds/BHP Billiton joint venture. Geology has no respect for man-made borders and the geological similarities between the two projects meant it was sensible to run them as one.. It provided for the sharing of information and co-operation on technical , operational and other matters regarding the two neighbouring concessions. The comparison and profiling of the mineralogy of kimberlitic occurrences at Luangue against those at Alto Cuilo will enable Xceldiam to move twice as fast at half the cost when assessing and developing drill targets. Petra has been working at Alto Cuilo since 2003 and is already carrying out large diameter drilling and bulk sampling and information from this programme, including estimates of diamond content, would be of great assistance to Xceldiam. The problem that will now confront Tim George is one of price. Xceldiam came to the market in November 2005 when it raised £8.53 million net at 45p per share. At the time Petra took a 2.9 per cent shareholding in the company and, soon thereafter, acquired an option to acquire up to 26 per cent more of Xceldiam's Angolan assets in tranches by December 2008 for £14 million. As James Picton, who is undoubtedly the UK's leading diamond analyst, pointed out, this put a value of £54 million on Xceldiam which was equivalent to 98p per share assuming full option exercise. The assets to which this deal refers are the 39 per cent interest held in the Luangue kimberlite licence and the 40 per cent interest in the alluvial licence. Xceldiam's partners are Endiama , the Angolan state appointed diamond concessionair and Bapsil Lda, an Angolan mining investment company so it is well entrenched in the country. If and when Petra Diamonds reveals itself as the acquisitor at a price of 50p, it will have to explain why it does not think these assets are worth what it thought they were worth just over a year ago. But here lies the rub. Reading the press release fast it appears that a bid approach was received by Xceldiam in January and a price has now been confirmed which the board is considering. Read it slowly and it is clear that a second party has entered the fray and no mention is made of a 50p price. Looks as if it is game on and it is strange that investors have not appreciated the new position as the share price is still hovering around the 50p mark. |
Posted at 22/8/2006 13:11 by mdchand Xceldiam ready to spread its wingsAllan Seccombe Posted: Mon, 21 Aug 2006 [miningmx.com] -- XCELDIAM is ready to start looking for other concessions or projects in Angola as its exploration projects on kimberlite and alluvial projects bed down satisfactorily, CEO Tim George said on Monday. Xceldiam has two shallow alluvial deposits it is exploring. It should know within the next six months whether these deposits could be viably exploited. It also exploring 20 kimberlite prospects, George told Miningmx. Xceldiam holds 40% and 39% interests in the alluvial and kimberlite deposits respectively in a 3,000 square kilometre concession known as the Luangue project. State-owned diamond company Endiama holds the majority stake, with a group of private Angolan investors holding the remainder. Xceldiam is providing all the funding for exploration and is doing all the work, George said, raising the possibility of an increased stakes if and when a new mining company is formed to exploit them. we are comfortable that things are on track"We've always maintained that we will focus on Luangue until the exploration programme is properly bedded in and it is reasonably bedded in now. We do look at other projects, but they have to complement the existing project," George said. "We've been Angola focussed to date, getting this project properly bedded down, staffed up and moving forward so that we are not diluting our management time across too many projects. "Now we are comfortable that things are on track there is scope for looking at one or two more, bearing in mind we are committed to funding the Angolan commitments as we said we would do." He did not rule out other projects in sub-Saharan Africa, saying interest in those would depend very much on how prospective they were if they were in exploration phase or what the practicalities would be if it was a near-mine project. If any of the 20 kimberlite deposits Xceldiam is exploring turns out to be of significant size then the company might look for a joint venture arrangement with a major company such as BHP Billiton or De Beers to exploit it because of the tremendous cost of bringing a large kimberlite into production, he said. Xceldiam has a cooperation agreement with Petra Diamonds, which is working on the Alto Cuilo deposit neighbouring the southern border of the AIM-listed company's concession in northeastern Angola. Petra has BHP Billiton as a partner. Mining costs in Angola are substantially higher than elsewhere in sub-Saharan Africa because of the difficult logistics and high set up costs, which means the deposit has to be very lucrative to make them viable, George said. "The foreign partner bears the cost in Angola. It is highly unusual to be in a situation where you are forced to be the funder and the operator and still hold a minority stake," he said of the way exploration and mining is conducted in the south west African country. There is the potential of negotiating a higher stake in the operating company but not a controlling stake because Endiama makes it a rule to retain a majority stake in mining companies operating in Angola. "There will be cash calls for capital commitments and start up costs (when setting up an operational company), so at that point in time the partners will have to decide how they will fund it. Perhaps there is an opportunity there," George said. Endiama would have to decide what projects to invest in and focus on its priorities. The partnership in Angola has sufficient expertise to bring the alluvial deposits into deposit if they prove to be viable. Work has been conducted on the alluvial deposits since April last year and the understanding of them is far more advanced than that of the kimberlites, where work started in April this year. There are a 70 tonnes per hour sampling plant and 20 tonnes per hour dense media separation plant on sight. There is also a small prospecting plant. Free news alerts: click here to subscribe"Those are processing alluvial gravels. It will take us about six months to evaluate those deposits and by the end of this year we should have a good idea of whether they are exciting. Indications so far are that we are in the right place," George said. Xceldiam will decide then whether traditional mining techniques are viable or perhaps alternative mining methods to extract gravels from thicker overburdens than shifting it through mechanical means alone, he said. Further alluvial deposits are being sought in the vicinity, he said. There are sufficient funds for the next year of planned exploration, he said. About half of the costs so far have gone towards putting in infrastructure like roads and bridges across one of the many rivers flowing through the concession. Diesel, food, spares and material is brought in by road in a five-day trip from Luanda, 700 km to the west. De Beers recently returned to Angola after pulling out in May 2001 after a dispute with the government. The presence of De Beers and BHP Billiton has increased confidence in smaller exploration companies operating there, George said. |
Posted at 09/2/2006 08:38 by din007 So same sentiment as the Zinc deal basically...Cornhill should really start a Message Board on their site for registered investors to share information. |
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