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You must be bricking it now with the takeover news coming out.
Delist at 25p LOL. What a load a c&ap.
Get out that short position now unless you can afford not too.
It all looked so promising for CGM. Such a shame that the Board's plans to invest in an African cement manufacturing business were never approved by the AIM. Good news is that our investment in CGM won't be wiped out, instead we're invited to trade shares off market. I reckon this is at least a hold for now and probably a speculative buy once we hear more on CGM's progress. Any views on this gemma4cash?
Joint venture with Calme group looks very positive. Looks like CGM board have been working hard to secure company's future. Cement is likely to be in high demand in African countries where large infrastructure and mining projects are planned.
Sorry for the late reply. I have now caught up with CGM's update. Good prospect of re-listing soon. Very interesting new direction for the company. Any other listed African based cement/aggregate businesses to compare with? I'm struggling to find one!
teamonster I have just looked at this companys web site & the news looks like they are staying on AIM but the shares will stay suspended until further notice while they further implement their investing policy to the London stock exchange satisfaction as required by the AIM rules.
Looking like this company is about to shut up shop on the AIM and list elsewhere. Anyone got information on likely outcome for CGM?
The Company is awaiting guidance from the London Stock Exchange as to whether the suspension in trading of the Company's ordinary shares will be lifted prior to 31 March 2011, failing which trading of CGM's ordinary shares on AIM will be cancelled.
Planned Construction of a Cement Plant in Mozambique 21 March 2011 - Consolidated General Minerals plc ("CGM" or the "Company") announces that since the appointment of new management it has made rapid progress towards implementing the investment strategy approved by shareholders at the AGM on 16 December 2010. CGM's first investment is planned to be the construction of a clinker grinding and cement packing plant in the port of Beira, Mozambique. The plant will have a design capacity of 110 tonnes of cement per hour and will be built for an estimated capital cost of US$24 million. It is anticipated that the plant will supply the growing local market and certain export markets in landlocked Zimbabwe, Zambia, Malawi and Katanga Province (DRC). CGM is in advanced discussions for the formation of a joint-venture with Calme SpA, a private Italian cement producer to build and operate the Beira plant. The joint-venture's intention is to develop and operate a number of similar cement facilities in other countries in sub-Saharan Africa. The Company has also initiated discussions for debt finance to support the project. CGM has purchased a 10 acre site for the construction of the cement plant in the immediate vicinity of the port of Beira with good access to road and rail infrastructure for a maximum consideration of US$880,000, subject to certain qualifying events . It is anticipated that the land will be owned by the joint-venture company. Engineering design is well advanced and preparatory work on the site, including an environmental impact study will be initiated in the coming weeks. CGM is confident of obtaining approval to commence construction of the plant from the Council of Ministers in Mozambique in the near future once the simplified environmental report and management plan have been approved. Once the necessary governmental approvals have been received the construction of the plant is expected to take 15 months. The Company is awaiting guidance from the London Stock Exchange as to whether the suspension in trading of the Company's ordinary shares will be lifted prior to 31 March 2011, failing which trading of CGM's ordinary shares on AIM will be cancelled. The Company believes that its venture in Mozambique represents sufficient progress aligned to its investing policy to create shareholder value by identifying and acquiring holdings in businesses and ventures active in natural resources with a particular focus on the minerals (including industrial minerals) and metals sectors. However if Company's admission to AIM is cancelled, the Company will seek admission of its shares within the next 12 months on a European or North American exchange either by applying for admission or through a corporate transaction.
http://www.investegate.co.uk/Article.aspx?id=201102170700113732B
anyone knows what is exactly happening with CGM?
Temp suspension http://www.investegate.co.uk/Article.aspx?id=201009300834205816T
what would that be to a new invester notice 9mil buys
Just over 4 weeks and if no decsion CBSF is correct it will be around 30p returned for each share. Can't believe there is not more chat about this??
Bought in at lower levels to bring average down and finally it has paid off. Out at break even. GL all holders
China Goldmines cash worth 29p a share Mon, 25th Jan 2010 08:39 JHGold miner China Goldmines has received a further payment of $2.2m in respect of the disposal of Westralian Resources to Cosmos Castle Management. China Goldmines now has a cash position of about $23m, equivalent to around 29p a share, and is in the process of making a strategic assessment of how to invest it. The chairman of the company, Robert Adair, said the company is looking to acquire businesses or assets and that its targets are not restricted solely to the resources sector. ‘If we do not find anything suitable then we would look to return the funds to shareholders,’ Adair said. Above can be found @ : http://www.lse.co.uk/share-sharecast-news.asp?shareprice=CGM&ArticleCode=3241988&ArticleHeadline=China_Goldmines_cash_worth_29p_a_share
USD23M (APPROX) UNAUDITED CASH POSITION FOLLOWING RECEIPT OF FURTHER PAYMENT http://www.iii.co.uk/investment/detail?code=cotn:CGM.L&it=le
LONDON, Jan 25 (Reuters) - China Goldmines Plc: # FURTHER USD 2.2M PAYMENT RECEIVED FROM THE DISPOSAL OF WESTRALIAN RESOURCES # STRATEGIC REVIEW, MANAGED BY NEW CHAIRMAN, ROBERT ADAIR, IN PROCESS
for anybody who's lost money here, u may want to check out Titan Europe (TSW). it's still quite severely undervalued(check book value) and on closer inspection, u should see that TSW appears to be making all the right moves and on the road to recovery. not a daytraded share but just one that should slowburn to former glory unless some website like motley fool or investor chronicle takes note of it and decides to do an article on them. nothing like that yet so far so it's an opportunity to get in before they do. i've posted my research on the BB of that company. just thought i'd share that with you, perhaps you can recover what you lost here. upside, well done on CSH.
Anyone of the opinion that the Institutions are averging down and will attempt to force the Company to sell up completely rather than trust CGM to become an investment company at the forthcoming EGM The increase in volume and rise of the SP over the past two days of trading leads me to believe that information is being leaked. Another long shot and it really is exactly that, is that Leyshon Resources were suspended on Thursday pending the sale of their mine at Zheng Guang. Leyshon have stalled in their attempts to receive a mine permit over the past 6 months. My thoughts on Leyshon, which I also hold, is that they were being shafted by the Chinese Authorities in a similar way to China Goldfields and CGM. Is it possible that the Chinese Authorities have struck a deal with CGM where by the Chinese get a mine already in production and in return CGM take over Leyshons mine, with the guarantee of being issued the mining license. Just thinking out loud and its probably about a 1 percenter.
Well thats share trading sometimes you just get it wrong. Not to worry took the funds recovered from here and as I had already written them off decided to take a massive gamble on CSH at 0.55p and well so far so good. GLA.
sorry to hear about your loss. i remember back on 21st may, i posted about worrall's departure not being a good sign for CGM because he took the city code with him, and there was a danger with any money invested here. now it looks like the chinese have kicked CGM out of the 8 mines altogether. i do hope CGM recovers in whatever manner, for those still stuck here. if u are looking for a more stable gold company to invest(but more expensive), see AVM.
http://www.hemscott.com/news/static/rna/item.do?newsId=82806969871202 Institutions seem to have faith. There are less than 6 million shares available to PI's. I'm hanging on to see the outcome of the EGM. The more I think about it the more I believe CGM were shafted by the Authorities. With such a strong Institutional holding in the company and not many shares in issue, a rights issue to raise the capital to continue the funding of a mine already in production, would have in my opinion been well received. Lets face it we had a a decent resource, a rising gold price, and a lot of the infrastructure already in place.
Looks like the directors will continue to milk this company. No trading and they are not proposing any reduction on the director's overheads! Company will be consuming $800k+ per annum for zip.
The EGM is on 21/09/09 and I think this one is worth holding until we hear what they have to say, there are still some large buys coming through with lots of small sells dragging the SP down. If the sale is agreed they are worth 4 times their current market cap with just what they would have in the bank, of course all depends on the outcome of the EGM and what their future plans are. I have decided to ride it out until the EGM and hope its good news!