Member Info for Shurething

These are on the way up again. Why are 700 shares bought and sold so often though? Any ideas?

How can a company whose declared net assets on their last balance sheet were c. 200 million, and whose rock reserves amount to 300 Mt (60% consented) be worth 2 million quid? If this company is allowed to be liquidated then the latter will be largely discounted as an asset, just as it is on the balance sheet. Ennstone would be worth more if it used the holes were clay-lined and used for landfill, and sold its plant for scrap metal or crushed aggregate (now that would be corny). They must have several hundred acres of brownfield, so that's one or two hundred million quid, and quarries can be cozy for retirement or eco-homes. Or how about gas storage? Oh, I forgot, we wouldn't want to sterilise our mineral PP's! This is probably the most sickening travesty because aggregates ARE a key strategic resource, like the banks. Come on Gordon - you can Nationalise this one and do me a favour! Ten million would do it - a quid per taxpayer.

Big trades going through - at least in terms of share numbers. Is this desperation (in which case I can also contribute) or based on knowledge (in which case I can't)!

I accept your point, and that may be the reason they are maintaining their silence. However, without some degree of transparency a lot of damage can result, which seems to have happened. Ennstone is bound to carry on in one form or another, they strategically control so much of the UK's aggregate resources. There are no alternatives to some of the quarries they own, at least in the planning sense. That is why their lorries are continuing to trundle the roads. Yes, the downturn in the housing market will have affected them, but they are a massive contributor to the roadstone sector and current contracts are not being shelved, though they will probably be pegged back over the next few years.

I have a feeling these will be a bit higher today. Buy price registered early at 1.5p on some sites, which is a good sign. I think also that the management are long overdue providing a statement. The company keeping quiet for so long is one of the reasons why the price has dropped so much - allowing us, the shareholders, to be ripped off as the shares are written down to virtually nothing. Directors kindly take note: your duty is to your shareholders first and foremost, not to keeping your own jobs!

Ignoring recent abusive comment: ONGC has committed to make the payment in U.K. Pounds and therefore the offer price is fixed, and not influenced by currency fluctuations. Therefore the offer price remains as has been quoted.

Probably one or two more than pay notice to what you say! If you don't care what I think, then you should say nothing otherwise you are contradicting yourself. I work in the minerals sector, and am fully that everything carries risk - hence the qualifier/s. Thank you for your constructive comment, however. You sound really nice to know!!

Please read my message of 22 August. They were and are a guaranteed riser, based on the strengthened dollar, unless the bidder decides to lower its bid!

I first heard about Ennstone as a potential bid around 5 years ago from an expert in the industry. They have a solid reputation and, importantly, a sizeable landbank in terms of planning permissions and limestone resources. This is what the 'big boys' will be after! These fundamentals have not changed with the market dip. Their prospects are long-term and tangible. I would expect any 'serious bid' to be at least 50% above the current market price. Even a 70 to 80% premium on the current price is feasible.

I am intrigued to know whether the 1290 p has been quoted by Imperial, or is someone's fag packet translation of what $2.9 billion was when bid talk was initiated. Does anyone know? If the offer is in dollars, which is what you would normally expect with a hydrocarbons company, then because the dollar has strengthened 8%, it will be a lot more than 1290 per share. If they offer $3.5 billion, then look for a BIG markup on the present price !!!

The levels of PGE + Au in the Smokey Hills occurrence are excellent. The grades are several times higher than the (minimum) economic cutoff in S. Africa, and the orebody is predictable (geometrically). Grades too, in this type of orebody, tend to be very consistent along strike. Not surprising the shares have climbed, and are bouncing back.