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i emailed ACU, I did think it might get deleted. A very odd thing to do from someone in authority. I wonder if we will get an RNS today or tomorrow? Lets see if the sp can kick on from here.
I presume it is for March, or they are going to have a bloody good April!! This info has come from the personal blog of David De'Ath acting Operations Manager. Not exactly official, but no reason to believe he would lie. An RNS would be nice. http://deathfamilynews.blogspot.co.uk/2012_04_01_archive.html
"African Copper Plc has a record in Copper Tonnage this month. 809 tonnes of Copper has been produced. This has succeeded the last record of 703 tonnes in August 2011" Not offical, though if true would put us at 10k tonnes p/a. Which considering a copper mine producing 1kk tonnes p/a recently sold for $267M for a mine producing, it should hopefully ensure we go for at least a similar sum. ACU is also expecting production to increase up to 30k tonnes p/a. Not including "three prospective world class mining assets"
Looking at the prices copper mines have been going for, I would be very disapointed with 5p, I would hope for nearer 10p. But in reality who knows, we should find out shortly, been over a month now.
Usually with the AIM, the sp rise comes before the official news. Not that it's crooked or anything. But it certainly can't be far off now
As long as they get a good price for ACU they can use carrier pidgeon as far as I am concerned. Any idea of timescale? I thought we may have heard something by now
"China's Zijin Mining Group Co Ltd plans to spend 5.5-billion yuan ($872.19-million) for acquisitions, the bulk of which will be overseas gold and copper assets, the company's chairman said on Thursday." Is there anyone not looking to buy up African mining assets?? Hopefully RMB's have been on the phone to all of these companies, and others besides.
MINMETALS Resources says it will use the assets recently acquired through its takeover of Anvil Mining as the starting point for a wave of acquisitions through southern Africa. The miner, based in Melbourne and listed in Hong Kong, recently completed its $C1.3 billion ($1.25bn) takeover of Anvil, in the process picking up the Kinsevere copper mine in the Democratic Republic of Congo. The company, majority owned by state-owned entity China Minmetals, plans to use acquisitions to help it achieve fourfold growth in coming years.
KGHM paid 2.2 billion euro, $2.9 billion) for a mikne that produces 60k tonnes p/a if my memory serves me correctly "Mitsui & Co., holding a record $17 billion in cash, wants to buy mining stakes and expand operations to triple copper output and more than double coal production, easing its reliance on iron ore sales" Your guess as a who a likely bidder will be is as good as mine. One thing I would say is ZCI have been a fantastic majority share holder so far, providing funding whenever it has been required. Lets hope they do us minority shareholders one last favour and demand a good price for ACU. Even a half decent price should do us very well
Your link wouldn't open. However, I wouldn't like to say, I am not sure as good as ACU is, whether it is big enough for Rio Tinto. Though "ACU is confident that the exploration programs currently being imple-mented will lead to the discovery of one or more major mineral deposits in the short term" who knows! One of the exciting things about our present sittuation is the unknown. Looking at the four companies who recently bid for Rosia Poieni Oz Minerals (Australia), Dutch Dundee Holdings (Canada) ,Ellatzite Med Ad (Bulgaria) and the Roman Copper Corp (Canada) all bid in the auction. KGHM (Poland) recently paid $2.9 billion for a mine. I have also read that the Indians and Japanese are interested in buying mining assets, thats even before we consider the Chinese, who I recently read have $1Trillion available to buy mining assets. I wouldn't completely rule out Rio or BHP, though I think Xstrata would be more likely. But in reality who knows, anyone of the above wouldn't surprise me. A bidding war would be nice. One thing is for sure, we will find out in the not too distant future.
Also KGHM recently paid $2.9 billion for a mine that produces 60k tonnes p/a if my memory serves me correctly. ACU should produce at least 10k tonnes p/a in the next financial year, with a target og 30k p/a. Based on the information above regarding two recent sales of copper mines, if ACU gets sold for less than $300m someone will have some very serious questions to answer
From another board. ""The Romanian government said Canada's Roman Copper Corp successfully bid €200.8 million (US$267M) for SC Cuprumin SA Abrud’s Rosia Poieni porphyry copper-gold mine, winning an open outcry auction" "The mine produces around 11,000 tonnes of copper a year" So they paid $267m for a mine that prduces 11k tonnes a year!! ACU should produce 7k tonnes this year based on the last half year figures, though they and us are expecting these figures to increase substantially, with a target of 30k tonnes per year! Though it is difficult to do a direct comparision, it does give us an idea of the kind of figures these assets are going for. Plus they will also get thrown in ""MM is confident that the exploration programs currently being imple-mented will lead to the discovery of one or more major mineral deposits in the short term." Looking at all the information out it is very difficult to see ACU going for less than $200m, unless some very shady deals have gone on."
Blame Google Translate. Coud22; ZCI effectively own 90% of the comapny, have you checked to see if any directors have bought shares in ZCI? Not that it matters anyway, we will find out ACU's true value very shortly when it is sold!
"Deadline for 1st buyers Proposals: 15/3" Interesting if true
"ZCI is in advanced discussions with industrial partners and financial partner for the development of new licenses to Matsimata with very large reserves, even to give as existing operations Their signature will appear to light the true market value of ZCI / ACU, much higher than 2E" "8/Conclusion:The bet is being won to turn a start-up ACU which produced almost nothing beautiful in junior mining and profitable growth that will be sold soon"
•Matsitama Minerals has, over the past year, identified world-class mineral deposits and mineralizing systems in the MSB. •The company has succeeded in positively identifying, for the very first time, IOCG mineralization in the MSB together with syn-to late-deformation granite intrusives.Conclusions •The company is now in a position to rapidly move the exploration assets up the value curve. •MM is confident that the exploration programs currently being imple-mented will lead to the discovery of one or more major mineral deposits in the short term. Raken from http://www.africancopper.com/i/pdf/CorporatePresentation.pdf
--Matsitama Minerals (“MM”) is a 100% owned subsidiary of African Copper Plc (“ACU”) •ACU is an international mining and exploration company incorporated in England and Wales and listed on the AIM (London) and Botswana Stock Exchanges.-- ---•Exploration has proven very successful with at least three, potentially world-class mineral deposits/systems identified.
"ACA Howe, as independent geological and mining consultants, have put a fair market value for Dukwe and Matsitama in the range of $128 million to $142million, (approximately Pounds Sterling 70-78m @ $1.84/Pounds Sterling ), using a copper price of $1.00 per pound" Based on the current value of copper of $3.7 per lb, that would put "fairvalue" of $473m to $525m. I aint saying we will get that figure, but it will e very interesting to see what we do get
Taken form ADVFN 4p? 6p? 8p? 10p? 12p? Whatever the sale price will be, we are going to find out very soon. As long as it's not 2p I will be happy. If ACU goes for $200m, - $70m debt, that is still five times the current market cap. We need it to be over $90m, to cover current market cap and outstanding loans. Which when you consider it was valued at $150m using a $1 per lb price of copper, against a current price of £3.7 per lb should be more than achievable. Even if we get that $150m, -$70m loans that is still over three times current market cap This is an exciting time, it is not often you are waiting on news that will put a definate price on a company in the same way that we will find out here. The present market cap seems so ridiculously low like a lot of AIM comapnies at the moment, especially given the demand and price of copper at the moment. Yet we are about to find out exactly how much ACU is worth, or at least what ZCI can get for it. I'm not sure how long the process will take, but we are a month into it already, so the clock is ticking. We will either get an RNS saying the deal is done at a given price, or a deal is being done. The question we all want to know will be at what price?
This is utter drivel as far as I am concerned. A holdings updat?, the volumes traded while up are still relatively small. As is the amount of shares in free flow that any kind of accumulation would send the sp flying. This is noithing more than people buying prior to sale news, which could come at any moment and could be significantly higher than the current sp. There is no one more bullish over ACU but this article shows why brokers and their like are not worth listening to.