Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hi Ken, Hoping my buy order goes through this time, fingers crossed.
I luv to plop a CFD on this one. may have to maintain it for a while though.. but would be a bumper payday
still watching mate....... not sure about buying back in just yet though! ATB
Any watchers on the board here!
Peel Holdings Estates Shale Landlords ( note, PEEL hold a significant stake in COALFIELD RESOURCES/ HARWORTH) PEEL Group is looking to benefit from a potential shale gas boom through agreements with exploration firm IGas on its land around the Manchester Ship Canal. The two companies have been working together since 2010 and Peel has leased five drilling sites to the energy company which is currently at the centre of protests by anti-fracking activists at an exploratory site in Barton Moss, Salford. Latest filed accounts for Peel Land and Property state, "an exploration drill has been completed at Ince Park and a second drill will be undertaken towards Irlam in October 2013" - referring to the activity at Barton which is currently underway. The report adds: "Peel Environmental continues to explore downstream opportunities arising from the development of this shale gas reserve." In the summer IGas revised up the potential for shale gas across its North West licence areas. It told investors that there may be 172.3 trillion cubic feet of gas, up from nine million, in an area which includes the Peel sites. The accounts for the year to March show revenues slipped 12.6% to £85.8m. Pre-tax profits jumped to £31.9m from a loss of £20.8m last time. The company's bottom line benefited from revenue of £36.7m from the sale of a number of subsidiaries as part of a restructure. During the year the business paid interest of £55.6m on debt worth £920m. Rents slipped 6% to £62.2m and vacant space increase by 10% to 985,000 sq ft. The group said occupancy rates declined by 1% due to tenants going into administration. During the year property sales raised £16.6m, up from £5.5m, as it continued to sell what it described as "non-core" assets.
Never tried the donkey Goats nice I concur, you can bet your bottom dollar, there's something brewing. Check out the debacle at DART energy and IGAS. One minute we're having a AIM London listing, next minute Igas have bought out!!
still holding stock here but not keeping up with any news as all seems neutral . boring really .. back from Hols again and now have internet again , love 3rd world counties , !! Morning to Ken no eggs for me thanks although I don't mind a bit of BBQ donkey .. keep up the good work .. post later when I have time
Never got my order filled, was a bit of a chance ;-)
Thats the way I would read it !! The fact that the 75% holdings of the Pension Fund is due to be transferred may give an opportunity for a move by Cres. With the company listed it would be an option to raise the necessary funds within the city , maybe Peel dont want to take the full 100% cost onboard but just keep a controlling interest ? Either way looks like we may have some interesting times before the year end imo !!
more plain english required.... as I am a bit numb sometimes! as far as I see it he Board undertook to continue to make available the listed company as one of a number of options for a future efficient financial structure of Harworth Estates, with liquidity and the ability to finance growth. It is expected to be clearer by the end of 2014 what role the listed company may play in an optimal capital structure for Harworth Estates does the above mean a RTO ( or whatever that means ) ie Cres take over HARWORTH?? PEEL may well just UNDERWRITE the lot as they did with the rights issue??
Hi Ken I had a quick read through it !! The main bit of interest to me was the clause regarding the joint shareholders CRES/Pension Fund and the selling of these holdings. If an offer comes in from a 3rd party then the current holders get first refusal to buy if they match the price, if they cant then they may have to also sell out... Sounds to me like a perfect opening for Peel to obtain the whole package ?? imo In the mean time lets hope they continue to sell lots of housing plots !!
Interesting Paragraph Board The Board of CfR consists of three non-executives, together with the Chairman and the Finance Director. In 2013 the Board undertook to continue to make available the listed company as one of a number of options for a future efficient financial structure of Harworth Estates, with liquidity and the ability to finance growth. It is expected to be clearer by the end of 2014 what role the listed company may play in an optimal capital structure for Harworth Estates. At the conclusion of those discussions, the Board will review its appropriate composition. The Chairman and the Finance Director devote most of their time to the Harworth Estates business.
hmmm Im sure this is in the last valuation.... as Harworth take back any former mines, they then take the land such as Harworth Colliery. Has anyone Read the Annual report yet? Some nuggets in there!
http://www.dailymail.co.uk/news/article-2077112/Housing-giant-bulldozes-24-brand-new-homes-building-land-planning-permission.html I read with interest how housing giant Taylor Wimpey were forced to demolish houses over a long standing planning issue. The most interesting fact being the disclosure of the cost of the land at £11.5 million and the number of proposed dwellings at 124 making the cost of a plot £92,700. This being the case with a conservative valuation of £45,0000 per plot this should add £382 million to the balance sheet of Harworth or 95 million to CRES or am I missing something ?
HI Bridgo couple of more notes in the annual report, that may show what's happening at CFR this year.... have you read it yet??
Harworth Insurance as this is 100% owned by COALFIELD RESOURCES & is up for sale Does any one know what we will get from the sale Says Asset value 5Million?? & to be sold to a MAJOR INSURANCE company..................
HARWORTH INSURANCE UP FOR SALE 2014 Harworth Insurance Company Limited (HICL) CfR retains a 100% shareholding in an insurance business, HICL, which is classified as held for resale as there is a put and call option over its shares. The assets held for sale are £21.7m (2012: £21.3m) and the liabilities held for sale are £17.1m (2012: 16.7m) and an amount in respect of deferred income in trade and other payables of £4.6m (2012: £4.6m). It is expected the sale of the insurance business will be completed in late 2014 to a major UK insurer.
Strategy Following the 2012 Restructuring, CfR is entirely focussed on increasing value in the Harworth Estates business for the Pension Funds and shareholders of CfR. The Board is acutely aware of the discount to NAV inherent in CfR's share price (34% discount as at 28 December 2013) and sees a material opportunity to grow value in the Harworth Estates business.
http://hsprod.investis.com/ir/ukc_new1/ir.jsp?page=news-item&item=1725715712049152 A Couple of interesting notes in there!
Coalfield Resouces plc, the former parent of UK Coal Operations posted pre tax profits of GBP 3.3 million for the year ending December 28th 2013 up from a loss of GBP 349,000 in 2012. The company also saw revenues jump to GBP 1.5 million from just GBP 8,000 the year previously. Coalfield Resources has effectively become a property company through its 24.9% shareholding in Harworth Estates Property Group Ltd, the property business it owns jointly with its former mining companies pension fund. Mr Jonson Cox chairman of Coalfield Resources plc said that “Over the first six months since our successful restructuring in December 2012, Coalfield Resources has worked on the forward looking strategy for the Harworth Estates property business, while also assisting our former colleagues in the mining business with the events that followed the fire at Daw Mill in February.” Mr Cox said that “As a result of the further restructuring of the mining business, we have relinquished our part in the governance of the mines. With the recently announced rights issue enabling us to repay debt, Coalfield Resources is in a position to move forward and concentrate on developing the value of its investment in the Harworth Estates Group .”http://coal.steelguru.com/other_region/15460/coalfield_resources_restructuring_pays_off_as_profits_jump_1_april_2014
Hi Strutt we got the AGM next week??
Order placed ;-)
the AGM in May or email them to ask questions for AGM ...
ps. Still we're here and still we stare at a blank screen of no movement on SP it beggars belief dont it. All things will pass and what goes up must go down ( or in reverse) so we watch and wait...... IMHO Shareholders value does not reflect the 25% holding of Harworth Estates at todays valuation, so where do we go from here??