Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Yes I do have an account here. The RNS will give you average price per unit. When you are buying such big quantities off the market, it is unlikely you will get the same price for each unit bought. Worth checking the peaks and lows on the days he bought. Hence why I say he bought all the way up to 300p. But then this is all based on experience.
Couple of things to note Re KAZ's 26% holding in ENRC (all taken from the latest Kazakhmys annuan report - published last week) - 1) Kazakhmys holding was purchased at an average price of 575 pence per share. 2) Kazakhmys has in its annual report (issued last week) revised the carrying value of its ENRC holding to $2,027 million, or 375 pence per share.
Humnnnnn interesting. So I said - "IMO we will see 350 - 400p over the coming days on pure speculation" .... and you say I am anticipating a bid at about 400p ..... I don't understand how you reached that conclusion? This board can't get worse - can it? You should join politics mate .... Lol!
From ENRC website - 1 Kazakhmys Plc - 26.00% 2 Mr Alexander Machkevitch - 14.59% 3 Mr Alijan Ibragimov - 14.59% 4 Mr Patokh Chodiev - 14.59% 5 State Property & Privatisation Committee of Ministry of Finance of Kazakhstan - 11.65% 6 BlackRock - 1.87% 7 GIC Asset Management - 1.13% 8 SKAGEN Fondene - 1.13% 9 JPMorgan Asset Management - 1.03% 10 Majedie Asset Management - 0.79% If Kazak gov sponsors the bid, then Kazakhmys won't offer much resistance as they are a major player in that country and would not like to annoy the government. It may very well be that Kazakhmy may join the consortium. That leaves the remaining 18-19%. Of this almost 5% is held by big institutions, the remaining being freefloat. At 300p, the consortium (including Kazakhmy) can acquire the remaining 18-19% at a cost of GBP 730m. At 400p, it will cost close to a billion. So it may not be too big an amount for the consortium to raise (as against Glencore's $12bn rumoured bid a few years back). IMO we will see 350 - 400p over the coming days on pure speculation.
Miningman - As a starter read the official RNS rather than press / BB gossips. Mr Alexander Machkevitch took the trouble of issuing his own RNS - but guess you did not bother to read it? Also takeover rules apply .... http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ENRC&ArticleCode=j5egzpjc&ArticleHeadline=recent_press_speculation
Well about your opinion - other than "sell" - I don't know what it is as you haven't provided any strong technical arguments to support it - you have just quoted some pub fights, rumours in newspapers (without providing the links) etc. Surely these are just dirty tactics to influence people to go short? Also I did not buy 10k ENRC shares a few weeks back just because I thought I may get lucky. I spent more than half a day reading analyst reports and results webcasts on ENRC website. But I bought with a 12 - 24 months view ... but always good to see almost 40% return in a few weeks!
Just down £350 when the share is up 60p? So you basically have a tiny tiny tiny tiny short position! If you are so convinced about the stuff you keep bolloking about on this BB, why so scared to put more of your money rather than just giving advice?! It is like weekend beer money that you are putting at risk .... And as you said - you don't even work in the financial services industry ... so keep learning!
Well forget comments from some of the smart rse posters on these BBs, but do your own research. There were some reports about boardroom frictions Thu / Fri last week, impacting the share price on Friday. Am long from 213p .... will continue monitoring change in risk. So far am comfortable holding! Wish I was allowed to day trade with my own money - job restrictions!! Nice daily swings to make quick profit on FTSE100 miners these days!
Anyway, to help you understand the reasons behind the depressed share price, look at the following article. http://www.4-traders.com/EURASIAN-NATURAL-RESOURCE-9590232/news/Eurasian-Natural-Resources-Corporation-Miner-ENRC-replaces-legal-adviser-on-whistleblower-probes-16682631/
Roger that. Even during the worst of recent market conditions (2008 Lehman collapse), ERNC bottomed at 180p ish. Wonder why one would think it would reach 150p when market conditions (including ENRC's results), although depressed, is not anywhere close to the late 2008 and early 2009 days. So I am in at 213p. So far so good .... will keep a close eye, but I think we should see 300p levels before price stabilises .... unless of course another EU country goes bust!
"Among the small caps, Afferro Mining put on 2¾ to 84¼ as fresh bid speculation did the rounds. Traders claimed Jindal Steel and Power was rumoured to be close to making an offer at 130p a share while Sinosteel was said to be working on a counterbid." http://www.telegraph.co.uk/finance/markets/marketreport/9759431/JP-Morgan-gives-thumbs-up-to-Diageos-potential-10bn-bid-for-Beam.html
Yep - hopefully CEY will issue an RNS saying customs have let them through. Should be positive for CAPD. It will be good though if CAPD were to make sure there isn't too much concentration on a single customer - being reliant on 25-30% of revenue from a single customer in the same unstable country is not the safest thing to do.
We shall see, but ... hope it is true for the sake of CEY holders! http://www.egyptindependent.com/news/petroleum-minister-sukari-gold-mine-problem-resolved
thinksmart - agreed, it all depends how quickly management brings down costs & overhead in Eqypt whilst we remain idle there. Management has indicated staff cut - which is the right step. The Egyptian challenges will take some time to resolve. I wouldn't touch CEY for now.
Although CEY is "one of CAPD's lager clients" it is not very clear what percentage of total revenue does CEY contribute towards. The only information we have is Egypt & Tanzania makes 40% of total revenue. There are currently 23 rigs in Egypt and 19 in Tanzania out of the total 90 rigs. So as an approximation, I think Egypt contributes about 25% to 30% of total revenue. So today's fall of appx 40% is overdone. Some of the risks associated with the Eqyptian crisis was already reflected in the market cap prior to today's fall. IMO end of the year, CAPD will still be profitable, albeit about 25 to 30% lower than estimate. So I took the risk and bought a few!
http://online.wsj.com/article/SB10000872396390444083304578016513491331152.html