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I think CAMEC have lost only their voting rights not their investment.
A Notice has been served on CAMEC stripping it of its 47% Holdings as it has not complied with its obligation to make an offer of at least £2/share under CRC Articles of Association and and City Rules and Regulations. Meteorix's holdings are now 94.9% as the shares bought by CAMEC from Meteorix pass to original vendor. CAMEC will receive no compensation and has no claim against CRC whatsoever.
I'm fed up with banks and wanted to have a punt at something completely different and high risk - I'm not going to go mad (maybe £1000 which I can afford to lose if it goes tits up) This one is my choice (simply cos the initials match my 3 kids names .....) - the co has an AGM coming up on 26/11/08 - I know copper prices have bombed this year, but the sp has dropped 95% since high in may 08. does anybody know anything about this company....good or bad ?? - have been trying to do some research but nothing seems to be telling me not to invest at the current sp - I know its a high risk one, but hey ho, I,ve lost more than £1k this week on RBS/BARC alone. many thanks
It is but so far those heavy hitting institutions have been stung here and any new potential stakebuilders/investors are staying away. We are more or less back to square 1 here from whence I started, but stopped out at £3.20, Analysts were recently talking of 70p/share being fair value. My instincts telling me to repeat the game plan as nothing really has fundamentally changed, but caught up in the wider market correction. This Co is still a possible takeover target. At 25p, this is very very tempting.
Gedw, even with the share buy back overhanging this stock and widden company losses surely at this price its worth a punt?
Wiped out here which proves the importance of setting stop loss when a share price is riding a trend. At around £3.80 stop loss set at a generous £3.20, easily breached. However there is still some unrest and unsettled share price as the price of copper along with other commodities comes under reducing prices as the world economies, particularly those former rising stars China India South Africa et al retract. There is no doubt that there will be a resurgence as those economies and the more developed ones rise from the downturn ashes, so for now this bombed out share looks fair value 70p/share looks to be a reasonable entry point as most of the institutions have no money to invest at the current levels. CRC was the perenial takeover target, but those interested are staying away for now.
Oh dear. Should have set stop loss. Stick to NNG if I was you...
Looking at the trading pattern recently, around the £2.50 mark appears to be a good entry point. A two way tug here, both of a possible fight for control of the Company or the mixed messages regarding commodity prices. As this stock is not far off its previous entry position, could be a good time to take a medium term position.
That was quite a scare today to see the share price fall to £2.68 but held faith and price recovered almost all of day's loss. Some volatility here in the next hour's trading and future sessions.
Sell off still continuing, buyers still waiting in the wings for this stock to bottom out. There was a half chance here but fizzled out. Profits locked in and waiting to re-invest. The near 30% fall since "lock in profits" footprint, which I believe to be a tad overdone, most of the selling off appears to be bread and butter, but will a relatively small number of available shares and sustained sell trading will impact adversely on the share price, looking for any signs of change in sentiment towards this stock.
Korea, Japan and now the Chinese are homing on on Copper producers. Although it is cheaper for those countries to prospect as the labour costs are less, there is significant economies of scale to mop up existing well advanced players. CRC already has major institutional players on its share register, but should and one of the developing countries make them an offer they cannot refuse then we have increased shareholder value. CRC is a sitting duck in the takeover stakes. I think the share price fall has achieved its objective so now I would suspect some recovery.
Cheers but prices falling so wise move to take profits earlier as suggested.
Thanks.
For Copper. Kazakhmys target price has been upped to beyond £27 in the Times today, due to a squeeze on Copper demand outstripping supply. Says it all realy for today..
Just over 10% is fine for today so perhaps lock in more profits and run remainder, a very exciting time is to be played out here. A two way tussle for control perhaps.
Hi sjp 1971. As you have taken the time and trouble to ask. Can I suggest you go and have a look at GedW's Hotties link GENERAL CHAT on http://www.lse.co.uk/general-chat.asp
Still a very good call though GedW :-)
My ignorant footprint 2nd August 2007 stated "CRC could be worth £1.80/share" but subsequent footprints upped this slightly. ROFLOL I always get it understated.
I cannot believe that 42 thousand options exercised, which will begin trading on 20th May, would have such an impact on the share price as it did. With only 86mns issued shares and a thundering great copper pile, the sp fall has been over done presenting a worthwhile entry point !!!!! by the way, there are a further 1.3Mns options still outstanding.
If after reading the pervasive thread here, the lucrative story has unfolded. I still stick my neck out and say there will be more upside, after perhaps a little softening in the share price. Two factors make this a sound investment. 1) a hardening of Copper prices, 2) Not many shares available, most of the equity is tightly held.
The current share price no where near presents a true value. Any would be stakebuilder would have to offer much more than current. Albeit selling some stock at current levels could be a shrewd move, churning funds and possibly coming back on weakness. Running remainder for more upside.
Then take profits if this is the case, and come back on any weakness. Got to say, a rather large share price rise on no particular heavy buying in trades. So CAMEC may be about to make its move. Hope this stock makes a genuine 900% rise since my first buy note.
Ukranien Assets, it does not have any that is RPT. Share buying continuing to push sp higher!!
Some very interesting rise within the last half hour and does not seem to be abating on the back of large buying and recent news regarding Ukranien Assets.
Having fallen from £2.64 to £2.56 a new entry point presented and buyers steamed in, this stock will be popular over the next few sessions, with most of the shares tightly held.