You can trade it on IG (spread betting) if you really want to.
As with all IPOs it is conditional trading until Monday and the float was only open to institutions to make for an easy IPO. You can buy on Monday but you'll be paying a premium to IPO price!
Very good emails below - have just sent my own asking them to confirm or deny rumours re talks with Rio Tinto funding Baitemir.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10967452 Erlan Sagadiev, CEO of Frontier Mining, commented: "We are pleased with the continued progress at Benkala. All equipment is now on site and we are confident that Frontier will be producing copper before the end of the year. Frontier is in a strong financial position and we fully anticipate moving the Company forward to the next stage in its development."
Erlan Sagadiev, CEO of Frontier Mining, commented: "The sale of Maminskoye represents a transformational transaction for Frontier shareholders. Following our consolidation with Coville, we have steered Frontier towards becoming a solid Kazakh focused copper producer with a substantial project pipeline. Our recent acquisition of the South Benkala deposit is consistent with this strategy. Although we have been excited about the potential at Maminskoye, its potential has not at all been reflected in Frontier's share price and the development of Maminskoye would have been an extended and expensive effort outside of our home region. Importantly, the sale provides Frontier with all the capital required to launch the Benkala SX-EW project. I believe that uncertainty about Frontier's capacity to complete Benkala has weighed on our share price and that this monetization of value will encourage investors to focus on the significant value that Frontier offers to investors."
New Edison Update - http://fmlinfo.co.uk/uploads/Frontier300611update.pdf
Good financial results out today - http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10902339 "Significant progress at Benkala continues on a monthly basis as we achieve key milestones towards our first copper production. The Company is confident that, with the upcoming release of the Company's Bankable Feasibility Study, the full funding required for Benkala to meet its stated 2011 production targets will be secured. "The management team is committed to being successful in these efforts, with the goal of solidly establishing Frontier as a premier mid-tier copper producer with a solid project pipeline offering an attractive platform for regional growth." "It is at Benkala where Frontier believes it will transform itself from a development into a production company. Significant progress continues on a monthly basis as we achieve key milestones towards our first copper production. Management and the Board continue to explore all funding options to ensure that the Company meets its stated production goal and are confident that, with the upcoming release of the Company's Bankable Feasibility Study, full funding will be secured to complete Benkala. Based on Frontier's continued efforts at Benkala the goals to advance the Company are clear: · Transition Frontier from a Development Company to an Operating Company · Improve market valuation with re-rating as an Operating Company · Generate cash flow to solidify financial position and fund development of the project pipeline · Evaluate South Benkala deposit and assess integration within Benkala SX-EW project · Continue Baitimir exploration and technical evaluation The management team is committed to being successful in these efforts, with the goal of solidly establishing Frontier as a premier mid-tier copper producer with a solid project pipeline offering an attractive platform for regional growth." "Maminskoye is located in a well established mining district, with significant regional infrastructure. The project is straightforward technically and economically attractive and offers a range of development options for Frontier: The Company could develop Maminskoye as a medium sized producer with significant potential for expansion, could work to expand the resource before committing to a development option, or could explore the possibility of a joint venture or sale to a third party. " Nice to see the first public comment on that (well done Psyclops). Would be pretty good to flog that for $100m or so to ramp up Benkala and get Baitemir into production too.
More than 15m shares in insurance software provider Innovation Group changed hands and the close was 0.50p dearer at 12.25p. Punters piled in amid gossip of an agreed 18p a share cash bid from EXL Service Holdings, the New York-based outsourcing firm, which had a 16p a share offer rejected last October. Months before that a private equity firm was unsuccessful with a 15p a share approach. Read more: http://www.thisismoney.co.uk/markets/article.html?in_article_id=516024&in_page_id=3&ct=5#ixzz11bg1AyFb
Broken out above the 200 day moving average now! Very strong buy IMO.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10664606 The Directors have all opted to have their outstanding Directors fees for the last year converted into shares at the volume weighted average price of the Company's shares over the last 12 months. The VWAP over the period of 12p represents a premium of 37% to the current share price and is a further testimony to the dedication of the Board and the belief it has in the Company. !!!
Nope! I just love this share!
Results for HALF YEAR: EBIDTA, profit of $1.8 million. Revenues increased by 74% to $8.6 million Net current assets at 30 June 2010 of $11.1 million Gross margin of 66% Tanzanite production of 1.0 million carats, 21% up on 1H2009 Market Cap less than £10 million !!
"The tsavorite drilling, sampling and data interpretation has been completed (after the reporting period) and bulk sampling commenced in mid-September 2010. The bulk sampling is scheduled to continue until the end of October 2010 and the final processing and data interpretation will be concluded in November 2010. The final independent JORC compliant report is expected in December 2010."
"The directors have not declared an interim dividend. The Board has a strong history of rewarding shareholders with dividends but feels it prudent to defer further dividends until market conditions strengthen and stabilise. " Looking likely for the future at least - possibly next year?
Now that is a strong headline!! http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10664335
FT Weekend "Financial services software maker The Innovation Group added 11.1 per cent to 11p amid talk that a stock overhang had been cleared. The shares were also helped by research from Edison naming it as a potential takeover target."
http://www.edisoninvestmentresearch.co.uk/researchreports/Innovation090910flash.pdf
http://investegate.co.uk/Article.aspx?id=201009090700083917S